As more life insurers report their 2020 financial results, it is becoming clear that 2020 was a humbling year for the sector. Photo: Getty Images The Insure Group, which collected premiums on behalf of insurers and brokers, was placed into curatorship in 2018. Insurers are yet to recover the R1.7 billion they lost after the group invested the premiums it was collecting into risky assets. SA's market conduct regulator for financial institutions, the FSCA, is waiting for a curator's report and an appeal hearing to decide how to move forward with the case. The Financial Sector Conduct Authority (FSCA) is not ruling out the criminal prosecution of the directors of the defunct Insure Group, as its liquidator is still trying to recover some of the R1.7 billion lost when the insurer went into curatorship.