In South Africa, the insurance industry as a whole is robust, solvent, and liquid. Fortunately last year, no new curatorships emerged, although some persist, mired in legal battles. In this market update, we take a look at the following topics as we move deeper into 2024:
- Product, performance, and embedded value under International Financial Reporting Standard 17
- Levelling the playing field: Increasing microinsurance waiting periods
- Artificial intelligence applications and model failures
- Understanding the consequences of regulatory violations under two key laws
- Risk margin relief for EU and UK insurers
- Prudential Authority update: Government bond curve review