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The Johannesburg High Court has placed Constantia Insurance Company into provisional curatorship after it failed to find an investor to inject it with much-needed capital.
Twenty new jobs in Derry are being created by pharmaceutical giant Almac. The group, which set up its facility in the Northland Road Business Park last summer s...
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 ...
Insure Group Managers CEO Charl Cilliers failed to disclose he was debarred from the financial industry when asked by accountancy body Saica to explain suspicious VBS Mutual Bank money flows. This omission itself may raise questions around issues of honesty and integrity.
Investigation blows open alleged 'premiums misappropriation' insurance scandal 13 May 2021 6:58 PM Share This: Investigative journo Pauli Van Wyk says four SA insurance giants have lost R944m in total by using Insure Group as intermediary. An alleged insurance scandal has led to huge losses for at least four South African insurance giants. A Daily Maverick investigation has found that Santam, Hollard, Old Mutual and Guardrisk lost R944-million between them due to the actions of intermediary Insure Group Managers. Insure Group collected insurance premiums from customers and invested cash it wa...