Welcome to the South African Underwriting Managers Association - SAUMA
- Established in 1999
- Over 80 Members by 2009
- Representation at IISA, FSB
- Ongoing Communication with Ombudsman - both FAIS and Short Term
- SAUMA Board Members have recently attended Parlilament to state the case of the UMA
- Minimum criteria to become a member of SAUMA including :
* Professional Indemnity of R5m
* Fidelity Cover of R1m
- Underwriting Managers are experts in their niche fields
- SAUMA is fully supported by the FSB
- SAUMA is the only line of communication between FSB and Underwriting Managers
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Press - RSS feed from Insurance Gateway ®
By Ara C. Trembly
When the economy took a severe turn for the worse in the latter part of 2008, few could have imagined that we were in for a protracted period of economic decline that would last for at least another two years. ...
The August 2010 Pretium Services Compliance Update has been published in the Insurance Gateway Knowledge Base. With a compliance flavour, these newsletters provide a succinct overview of happenings within the FAIS environment and being distilled as they are, are a must read for busy FSP executives, who need to keep their finger on the compliance pulse. ...
Net underwriting result of R533 million up significantly from R88 million
80% increase in headline earnings, of R577 million, and headline earnings per share of 511 cents
Net insurance margin of 11%, up from 5%
Gross written premiums up 6%, net earned premium up 8%
Healthy solvency ratio of 44%
Interim dividend of 185 cps and special dividend of 500 cps
Santam has delivered significantly improved results for the six months to end of June, 2010. ...
By Joe Kotz
National Manager: Compliance
Financial Intermediaries Association of Southern Africa (FIA)
At time of writing this article the industry still awaits the publication of the cost of the regulatory exams it is literally in the hands of the Minister of Finance. ...
Harmony with other legislation essential
Julie Methven, CEO, Compliance Institute of South Africa
The Protection of Personal Information Act, expected later this year, has so far seen numerous draft versions and has been a matter of considerable debate over the last few years. ...
Resources - RSS feed from Insurance Gateway ®
Following Micro-insurance developments in South Africa....
Items on binder agreements....
Items on the FIAS Fit and Proper Requirements....
Industry Codes of Conduct....
General items on Treating Customers Fairly....
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