A long time coming – the Insurance Capital Standard

Following the 2008 global financial crisis, the International Association of Insurance Supervisors (IAIS) received a mandate from the Financial Stability Board and G20 leaders to develop a Common Framework for the supervision of Internationally Active Insurance Groups (IAIGs). IAIGs are designated by their group-wide supervisors based on size and level of activity; they are essentially large international insurance groups. Currently, 57 IAIGs have been publicly disclosed by their group-wide supervisors.

An important deep read. Find out where the Insurance Capital Standard fits into the Common Framework, its key features, similarities with Solvency II and how countries may adopt or adjust it to cover their needs. 10min read

Past sins come back to haunt microlenders, with Capitec on the front line

A movement to claim potentially hundreds of millions of rands from the microlending industry may soon reach an inflection point as Capitec Bank defends a restitution claim from the victim of an allegedly fraudulent garnishee order.

This is a long read but it also illustrates the enormity and complexity of the problem of garnishee orders and the more recent “debt rehabilitation” trend. 10min read

Guardrisk hunts for deals as Momentum rejigs strategy
Financial services group Momentum has indicated that work is under way to beef up Guardrisk with acquisitions and possible international expansion as part of the group’s new strategy that aims to push up its earnings to R7bn by 2027 from R4.8bn now.

A Business Day article which needs to be accessed via your institution’s library membership if you do not have a subscription.

Scientists slam Stats SA’s 2022 census as ‘work of fiction’

Scientists have torn into the government’s latest census, saying it is so flawed it cannot be relied on for allocating budgets and resources or monitoring the impact of key programmes such as childhood immunisation.

A very important 2.5min read.