Eighth Annual Report of the Registrar of Long-term Insurance 2005
ISBN 0-620-37139-0 0002 0012 0015 0020 0023 1 2 3 4 TABLE PAGE TABLE Transfers of business Transfers Name changes of long-term insurers Report by the Registrar of Long-term Insurance Report by the Registrar Policies for which long-term insurers were registered were for which long-term insurers Policies Names and addresses of registered long-term insurers of registered Names and addresses
Physical address Telefax Rigel Park 012 347 0221 446 Rigel Avenue South Erasmusrand E-mail Pretoria [email protected]
Postal address Internet P O Box 35655 www.fsb.co.za Menlo Park 0102
Telephone 012 428 8000 Eighth Annual Report of the Registrar of Long-term Insurance Toll-free numbers 0800 202 087 and 0800 110 443 2005
03208 FSB [Long-term Insurance] Re:design creative communications CONTENTS 0027 0028 0029 0030 0031 0032 0033 0034 0035 0036 0037 0038 5 6 7 8 9 10 11 12 13 14 15 16 Assets Summary of key ratios Summary of key figures Other insurance liabilities Other insurance Movement in shareholder funds Movement in shareholder Movement in policyholder funds Net benefits paid and provided for Net benefits paid and provided Liabilities under unmatured policies Liabilities under unmatured Individual ranking of long-term insurers Individual ranking Net premiums received and outstanding received Net premiums Individual market share of long-term insurers Individual market share Movement in the number of policies/schemes force REPORT BY THE REGISTRAR OF LONG-TERM INSURANCE TO THE MINISTER OF FINANCE 0002
I, the Registrar of Long-term Insurance, hereby submit • Minimum early termination benefits of policies the eighth annual report in terms of section 5 of the i.e. implementation of the Statement of Intent signed by the Long-term Insurance Act, 1998 (the Act). The text of Minister of Finance and the major players in the long-term the report, as well as the information contained in insurance industry tables 1 to 4, relate to the period 1 January 2005 to • Rebuilding public confidence 31 December 2005. Tables 5 to 16 contain figures for long- • Dealing with issues emanating from the determinations by term insurance companies with financial years ending the Pension Funds Adjudicator (PFA) during 20051. • Consumerism
1. INDUSTRY OVERVIEW The effective management of capital remains important to all insurers, this was evidenced from the number of applications for the issuing of subordinated debt instruments received from some of the major 1.1 GENERAL players in the long-term insurance industry. Net premium income for primary insurers increased by 8.2% during
2005 compared to a decrease of 7.0% during 2004. The increase in 1 The financial years of long-term insurers do not end on the same date and may cover premium income is attributable to the high levels of credit growth periods other than 12 months. in the household sector where credit life policies are taken out as protection against credit arrangements. Benefit payments decreased by 2.8% compared to a 5.6% increase for 2004. The excess of income over expenditure for primary insurers increased from R2.8 billion in 2004 to R26.3 billion in 2005. Assets showed an increase of 16.5%. The increase in the assets of primary insurers was mainly due to the strengthening of equity markets. The 2005-year reflected an increase in equity, debentures and loan stock investment by long-term insurers. The ratio of assets to liabilities for primary insurers remained at 1.10.
The following challenges continue to face the long-term insurance industry: • Compliance with regulatory requirements • Increased competition • Financial Sector Charter • International Financial Reporting Standards (IFRS) • Addressing the needs of the low income market for appropriate products • Technology Excess of income over expenditure over income of Excess Total expenditure Other Commission expenses Management Benefits Expenditure Total income Other income Investment premiums Net Income Reinsurers reinsurers: of business long-term the of Summary Liabilities Assets expenditure over income of Excess Total expenditure Other Commission expenses Management Benefits Expenditure Total income Other income Investment premiums Net Income insurers Primary insurers: primary of business long-term the of Summary SUMMARY FINANCIAL 1.2 Liabilities Assets
E C N A R U S N I M R E T - G N O L F O R A R T S I G E R 181 808 189 936 186 830 830 186 10.6 936 189 (6.7) 808 181 118 213 749 192 609 206 3 7 8003 6 6 1. 17.8 11.7 166 966 043 820 876 733 1 0 9857 5 3 1. 16.5 11.7 438 058 1 517 908 306 813 5 3 1522 6 3 56 (2.8) 5.6 8.2 532 160 232 165 (7.0) 436 156 751 163 401 151 807 162 481 1 2 8 (87 834.5 (88.7) 288 26 813 2 801 24 139 216 388 . 13.9 6.8 11.3 848 13 (2.8) 156 12 379 11 828 46 057 42 283 43 2003 2004 2005 % Change % Change % Change % 2005 2004 2003 %Change %Change 2005 2004 2003 1 915 2 386 2 529 24.6 24.6 529 2 386 2 24.7 915 1 366 3 213 3 576 2 8 619 1 1. 1.8 11.1 311 6 199 6 581 5 6 744 2 1. 5.0 10.3 824 7 454 7 760 6 7 87 3 (76 1.2 (87.6) 837 827 671 6 2 164 7 2. 18.0 26.2 0.9 975 1 42.6 674 1 717 2 326 1 693 2 889 1 (44.7) 24.5 (32.8) 11.1 532 2 918 9 581 4 967 7 820 6 173 7 R’m R’m R’m ’03 to ‘04 ‘04 to ‘05 to ‘04 ‘04 to ’03 R’m R’m R’m ‘05 to ‘04 ‘04 to ‘03 R’m R’m R’m 4 40 5 3. (45.7) (2.4) 31.8 31.7 13.6 250 162 9.4 460 166 114 608 349 126 (15) 535 198 489 458.1 (236.6) 539 2 (709) 519 6 4 (46 65.1 (24.6) 142 86 1 176 373.3 (107.6) 41 . (1.6) 4.5 6.0 4.8
0003 REGISTRAR OF LONG-TERM INSURANCE 0004
1.3 INVESTMENT SPREAD
The spread and categories of assets for primary insurers and reinsurers for the long-term insurance industry were as follows:
Kinds of assets 2003 2004 2005 R’m % R’m % R’m % In RSA: Cash and deposits 53 553 7 62 534 7 82 108 8 Fixed interest investments 122 250 15 141 812 15 114 468 11 Equities and collective investment schemes 344 239 42 421 198 46 542 614 51 Debentures and loan stock 53 121 6 54 835 6 100 762 9 Immovable properties 24 742 3 30 176 3 31 389 3 Fixed assets 1 148 0 1 176 0 3 102 0* Current assets 104 362 13 88 200 10 103 147 10 Foreign (covering domestic liabilities) 98 448 12 109 715 12 80 715 7 Foreign (covering foreign liabilities) 18 203 2 6 326 1 7 958 1 Total 820 066 100 915 972 100 1 066 263 100 * Result is less than 1% but not necessarily 0%.
1.4 FREE ASSETS TO CAPITAL ADEQUACY REQUIREMENT
The number of times the Capital Adequacy Requirement (CAR) is covered by free assets gives an indication of the financial strength of a long-term insurer. The median for long-term insurers with a 2005 financial year-end, for which data was available at the time of writing, was 2.93 (2004: 2.90). The minimum requirement is one. All insurers with a CAR cover below one have been investigated and corrective measures have been implemented.
The following table gives a breakdown, based on available unaudited data, of the free assets to CAR for long-term insurers with financial periods ending during 2003, 2004 and 2005:
Number of insurers Free assets to CAR 2003 2004 2005 Covered 0 – 1 times 3 6 1 Covered 1 – 2 times 10 13 20 Covered 2 – 5 times 34 37 36 Covered 5 – 10 times 6 8 11 Covered 10 + times 14 3 3 Total 67 67 71 REGISTRAR OF LONG-TERM INSURANCE 0005
1.5 PRIMARY INSURANCE PREMIUMS
1.5.1 CLASSES OF POLICIES 1.5.2 TYPES OF BUSINESS IN THE RSA
This diagram shows the net premiums according to the classes of This diagram shows the net premiums according to the types of policies of primary insurers, in and outside the Republic of South business in the Republic of South Africa of primary insurers during Africa (RSA) during 2005: 2005:
TOTAL R163 751 million TOTAL R163 432 million
1.5% 1.0% 46.1% 20.1%
49.9% 43.5% 15.3%
12.7% 2.5% 1.6% 3.5% 2.3%
1.0% Health business 1.5% Disability business 2.3% With-profit annuity 3.5% Without-profit annuity 1.6% Assistance business 2.5% Sinking fund business 12.7% With-profit business 15.3% Other 43.5% Fund business 49.9% Life business 20.1% Market related 46.1% Linked 0006 nulsdpeim 2. 2. 2. 2. 25.6 11.9 25.0 15.3 27.0 14.7 23.1 19.7 24.8 24.9 premiums Annualised policies of Number business: new of percentage a as Surrenders policy. a of requirements contractual the meet to annually paid be must which premium of amount the to refers premiums * Annualised business: life group and fund pension years.exclude Thefigures five past the over business life for surrenders for premiums annualised the and policies of number the reflects below chart The SURRENDERS 1.6 E C N A R U S N I M R E T - G N O L F O R A R T S I G E R Thousand (Y1) 1 000 1 400 1 200 800 200 400 600 0 P olicies (Y1) 2001 1 684 1 221 2002 1 979 886 01 02 03 04 2005 2004 2003 2002 2001 % % % % % % % 2003 2 095 881 Annualised premiums(Y2) 2004 2 019 859 2005 2 154 884 * 0 500 1 000 1 500 2 000 2 500
R’million (Y2) nulsdpeim 2. 2. 2. 2. 26.6 22.7 26.6 26.6 23.8 27.4 21.8 30.6 22.3 29.3 premiums Annualised policies of Number business: new of percentage a as Lapses policy. a of requirements contractual the meet to annually paid be must which premium of amount the to refers premiums * Annualised figures exclude pension fund and group life business: life group and fund pension exclude The figures years. five past the over business life for lapses for premiums annualised the and policies of number the shows below chart The LAPSES 1.7 Thousand (Y1) 1 200 1 400 1 800 1 600 1 000 400 200 800 600 0 P olicies (Y1) 2001 1 514 1 433 2002 1 866 1 377 01 02 03 04 2005 2004 2003 2002 2001 % % % % % % % 2003 1 847 1 647 Annualised premiums(Y2) 2004 1 495 2 152 2005 2 238 1 688 * 0 500 1 000 1 500 2 000 2 500
R’million (Y2) Source: JSE Source: year. each December 31 at as 2004 December from then and 2004 June until year each June 30 at 1995, as June since JSE the on sectors 1998, insurance December short-term and long- in combined the of listing capitalisation market 1999.the its July shows in Thegraph billion of R45 was Mutual Old of time that and the at billion R19 was Sanlam of capitalisation market TheJSE. the of capitalisation market total the of 2005, 4.53% or December LIMITED 31 on billion R162.5 to JSE amounted (JSE) Limited JSE the on THE ON sector insurance long-term SECTOR the of The market capitalisation INSURANCE THE OF CAPITALISATION MARKET THE 2.2 Bank Reserve South Source: African 2005 exercises): to revision annual and 1994 benchmarking their in from Bank Reserve South the African by (GDP) adjusted sometimes are Product percentages years’ Domestic (previous Gross the to industries insurance short-term and long- the by contribution the shows graph This PRODUCT DOMESTIC GROSS TO CONTRIBUTION 2.1 INDUSTRY INSURANCE THE IN TRENDS ECONOMIC 2. 100 120 140 160 180 200 20 40 60 80 0 0 1 2 3 4 5 1995 1994 48.60 2.3 1996 1995 76.80 2.6 1997 1996 100.80 2.3 1998 1997 99.91 2.4 1999 1998 77.66 2.2 E C N A R U S N I M R E T - G N O L F O R A R T S I G E R P 2000 1999 136.06 ercentage ofGDP R’billion 2.6 2001 2000 148.60 2.4 2002 2001 127.99 2.3 2003 2002 105.37 2.1 Jun ‘04 2003 122.57 2.0 Dec 2004 164.50 2.3 ‘04 Dec 2005 190.20 2.2 ‘05
0007 0008 performed on an annual basis except in the case of the five five the of case the in except basis annual are an reviews on The management. performed insurers’ the of co-operation the with groups insurance on reviews perform to continues Office This SUPERVISION GROUP INSURANCE 3.4 business. assistance of regulation future the for plan a develop to and report this of proposals the consider to group working a up set Treasury National and Office Trust.This Finmark of behalf on Analytics Genesis by produced Africa South in This Office received the BUSINESS report on the regulation of (FUNERAL) assistance business ASSISTANCE 3.3 to refer please regard this below. 3.5.1 paragraph In addressed. be to need insurers of structures cost the that indicated clearly survey the of outcome The insurers. around the PFA and the fund issued retirement products by long-term developments recent the to contribute to meant not therefore was and insurers long-term to relating (PFA) Adjudicator Funds Pension by the made determination to first the prior started The investigation lapsed. or surrendered values are policies when policy determining when consider insurers that factors the on focuses 2005. report The October Treasuryduring National the to submitted was investigation or the of outcome the surrendered on report lapsed. A are policies when losses or profits record insurers long-term extent what to establish to was intention Act.The the of 52 section of terms insurer,in required long-term a as of rules the of This to an gain a Office undertook investigation understanding better SURRENDERS AND LAPSES 3.2 review. under period the during meeting one held committee industry.The insurance long-term the to relating matters on advise statutory and investigate to a Finance of Minister is the by appointed Insurance committee Long-term on Committee Advisory The COMMITTEE ADVISORY 3.1 DEVELOPMENTS POLICY AND REGULATORY 3. E C N A R U S N I M R E T - G N O L F O R A R T S I G E R
3.5 AMENDMENTS LEGISLATION TO AMENDMENTS 3.5 regard. this in researched and monitored closely are developments International supervision. group insurance to approach formal introduction a of the of investigation its with continuing is Office This a on performed also are reviews basis. quarterly case which in groups, larger sectors of the market. the of sectors specific on effect quick negative a have would no proposal new any had since fix, and complex was matter the that accepted FSB the and prepared by the National for consideration Treasury. The National Treasury and Office this group working the of findings the on report preliminary a payments, submitted commission on practices international in research and bodies industry with meetings of series regulation. commission a TreasuryAfter regarding a study to conduct A joint working group was by established this Office and the National National the of FSB. the of Division Insurance Treasurythe representatives and by discussed subsequently was which (LOA) dispensation, commission Africa new a South for proposals of its submitted Association Offices’ Life the 2005 June In other and products sector. insurance long-term the by offered annuity products savings retirement for considered be to had structure payment commission new a that clear became It practice. this for criticised heavily were intermediary. the Insurers pays insurer the commission the of consists reserve the against charged costs the including costs, of reserve. portion the against significant A charged are full commission, the when negative turns even or depleted, is value their date, maturity their before terminated are policies such When reserves. insurer’s the in value the of accumulation slow the in results premium recurring small relatively the upfront, paid been Particularly in premiums, the case of has recurring commission where intermediaries. to companies insurance by commission upfront of payment the on attention of deal great a focused 2005 DEVELOPMENTS A number of by determinations the PFA at the end of 2004 and during MARKET DEBATE SUBSEQUENT AND COMMISSION THE 3.5.1
. DIRECTIVES AND INFORMATION LETTERS ISSUED 4. report. this of 4 table in indicated are insurers of changes Name Absa Momentum. by Holdings the Sage of of acquisition the insurers and PLC in Bank Barclays by shares Group approved of Office acquisition this indirect that the were acquisitions major other addition, In Office this Court application. the supported High the to report its In shares. the used purchase were to funds shareholder Sanlam Court. High the of approval the with Limited Company Assurance Life of African shares ordinary issued the of majority the procured Limited Assurance Life Sanlam of 2 report. this table in indicated are insurers between business years’ of prior transfers All review. under period the during insurer long-term another to insurer long-term one from transferred was business No cancelled. was licence no and period review the during insurers long-term new to 3 in table of report. this are indicated Two granted were new licenses CHANGES NAME AND New insurers registered, run-offs of business and dormant companies INSURERS DORMANT TRANSFERS, REGISTRATIONS, 3.6 stakeholders. all with consultation further entail will forward going process The structures, disclosurestandardsandconsumereducation. includes a commitment to examine other issues including commission also agreement the contributions, of termination early of event the in benefits poor of issues addresses primarily statement this Though 2005. December during industry insurance long-term the in players major Financeand of Minister the between (SOI) Intent of Statement become outdated. New developments culminated in the signing of the had products savings providing in companies insurance by followed It became evident that several aspects of the traditional business model The Office issued no directives during the period under review. under period the during directives no issued TheOffice DIRECTIVES 4.1 E C N A R U S N I M R E T - G N O L F O R A R T S I G E R
5.1 STAFF COMPLEMENT OF THE INSURANCE DIVISION INSURANCE THE OF COMPLEMENT STAFF 5.1 INFORMATION GENERAL 5. under period the review. during letters information no issued Office The LETTERS INFORMATION 4.2 White Male Male White Male Black Female White Female Black staff: Administrative Specialists: Analysts: managers: and departments of Heads Officer Executive Deputy Insurance the of follows: as were (FSB) Board Services Financial complement the of Division staff BOARD SERVICES the FINANCIAL 2005 THE OF December 31 at As Vacant Policy and Registration Insurance Head: Deputy Executive Officer: Insurance Officer: Executive Deputy (Deputy Registrar of Long-term Insurance) Long-term of Registrar (Deputy (Registrar of Long-term Insurance) Long-term of (Registrar Executive Officer Executive Mashudu Munyai Mashudu Suzette Suzette Vogelsang Prudential Insurance Head: Rob Barrow Barrow Rob Number Number 15 15 5 5 8 6 Jacky Huma Jacky Compliance Insurance Head: 14 15 23 18 44 % 6 6 7 1
0009 0010 non-relevant complaints to the appropriate authorities/entities. authorities/entities. appropriate the to complaints non-relevant forwarding and complaints incoming screening Office this of centre significant The resolved. were contact the to due is received these complaints of number the in reduction of 91% and review under period the during 506) 2 (2004: complaints 286 received Office This COMPLAINTS CONSUMER 5.5 entities unregistered from Assistance business insurers are concerned about the competition • Credit Act National the of Impact • systems IT • companies, i.e. within key staff individuals on reliance Undue • products The complexity of product design, specifically in linked investment • arrangements Outsourcing • insurers small in especially governance corporate of Lack • on-site the during identified visits: concern of areas are following The procedures. management risk implement to properly of management ability the month.and insurers of areas risk various the on Thefocused visits per visits insurance four approximately at of frequency visits a at on-site companies conducting continued has Office The VISITS ON-SITE 5.4 of fine a imposed court entity. the on 000.00 R30 The business. insurance unregistered conducted had they that plea a in acknowledged entity The court. in appeared prosecution for referred were that entities the of One prosecutors. state the to handed been are by the South matters Policeor investigated have being African Services either The prosecution. for business insurance unregistered conducted have to found were that entities six referred Office This PROSECUTIONS 5.3 progress. in still are inspections These business. insurance unregistered conducting been have to ACT alleged THE were that entities eight inspected Office This OF CONTRAVENTIONS ALLEGED AND INSPECTIONS 5.2 E C N A R U S N I M R E T - G N O L F O R A R T S I G E R
Consumer complaints can be broadly categorised as follows: as categorised broadly be can complaints Consumer on 14 and 15 April 2005 and in Maseru, Lesotho, on 13 and 14 14 and 13 on Lesotho, 2005. Maseru, October in and 2005 April 15 and 14 on review, under year the During in Cape met CISNA Town, South Africa, region. SADC the in stability systemic and harmonisation market addressing development, market namely: as challenges principal summarised three the be can CISNA of objectives FSB. main the The at located is CISNA for secretariat The countries. (SADC) intermediary services from Southern African Development Community funds, retirement markets, capital schemes, investment collective and of companies providers insurance of authorities of regulatory consists It the 1998. June in established was (CISNA), Authorities Financial Non-banking and Securities Insurance, of Committee The COMMUNITY DEVELOPMENT DEVELOPMENTS AFRICAN SOUTHERN 5.6.1 INTERNATIONAL IN INVOLVEMENT 5.6 investment performance 32.5% Lowmaturity/ 15.4% Other/poorservice other premiumcomplaints 7.0% Premiumrefunds/ misselling 3.5% Misrepresentation/ 32.5% 22.0% Protection Rules contraventions 12.6% 22.0% Claimdisputes understood 7.0% P 7.0% Alleged olicy notreceived/ 7.0% 12.6% Act/P olicyholder 3.5% 15.4% potnte t priiae n h fruain f principles, provides of formulation associations the in international participate to these opportunities of Membership authorities, concern. mutual of issues of supervisory discussion insurance and continent African the on supervision of African standards of enhancing of developing and monitoring establishing, the in assisting information, of sharing and co-operation cross-border promote to is the AAISA of objectives The 2005. May in committee in held Accra,Ghana were the that of AAISA meetings executive and assembly general the attended FSB The of AAISA. treasurer and secretary-general as act also and respectively AAISA and IAIS of committees executive the on serve members staff FSB organisation. (insurance) industry an is this as AIO the of membership its review will FSB The (AAISA). Authorities Supervisory of Insurance the African Association of and (AIO) Organisation Insurance African the (IAIS), Supervisors Insurance of Association International the of member a is FSB The ASSOCIATIONS INTERNATIONAL OF MEMBERSHIP 5.6.3 website. FSB the on available is authorities supervisory these of list A supervisors. international with (MOU’s) The FSB is party to a number of bilateral Memoranda of Understanding UNDERSTANDING OF MEMORANDA 5.6.2 2005. October 12 on was held this supervision, risk-based on regulators SADC for seminar training a sponsored Initiative, FIRST organisation, international The objectives. its achieve to CISNA assist to is regulators.surveys these of The aim SADC for programme development and training a and regulatory of harmonisation the regimes, gaps governance, education, corporate regulatory consumer as such projects on conducted surveys their on update an gave members meeting, Lesotho the At on feedback gave projects. CISNA respective their with made being Members progress accepted. unanimously was which plan, strategic CISNA’srevised on focussed meeting Town Cape The E C N A R U S N I M R E T - G N O L F O R A R T S I G E R
for African Insurance Supervisors. A training session was hosted hosted was session training A Supervisors. Insurance African for seminar training annual an of IAIS, hosting the the of work including ongoing the in involved continuously are members staff FSB’s The of in Africa. marketjurisdictions emerging other transfer to knowledge and sharing the to committed also is of FSB the membership IAIS, the its Through countries. market emerging of needs special the on attention focusing and standards of implementation 12 January 2007 January 12 INSURANCE LONG-TERM OF REGISTRAR BARROW G J R appreciated. National Treasurythe much is with the auditing and actuarial professions. of The close working relationship bodies representative as well as forums, consumer and and associations intermediary insurers, insurers from received Office this co-operation the for appreciation my record to Registrar, wish the I, CONCLUSION 6. the crime. in and fraud financial global of policing Interpol with liaises and abroad from queries numerous to supervisors, responds international with Thecontact is in regular FSB SUPERVISORS FOREIGN WITH LIAISON 5.6.4 subcommittee year. a the times three held are that meetings the attends of also IAIS, member the as of Committee capacity Executive his in Officer Executive during Deputy The Austria in place took Conference 2005. October Annual IAIS The seminar. training the attended countries African fourteen from delegates Thirty training. the funded IAIS the and programme the hosted FSB 2005. The November 24 to 21 from
0011 0012 30 Investec Employee Benefits Limited Limited Benefits Employee Investec 30 Limited Investec Assurance 29 Limited Life HTG 28 Limited Company Life Assurance Hollard Cape 2215 Town 27 Box O P 8000 Limited Company Life Assurance Harvest 26 Limited Life Guardrisk 25 Limited (Pty) Society Funeral Assurance Company and Goodall 24 Limited (Pty) Bourne and Assurance Goodall 23 Limited (Pty) Company Insurance Grobbelaar J E 22 Limited Life Discovery 21 Limited Insurance Life Corpcapital 20 Limited Company Life Assurance Coronation 19 Limited Company Health & Assurance Life Constantia 18 Limited Company Life Assurance Clientele 17 Limited Life Citadel 16 Limited Life Channel 15 Limited Life Capital Alliance 14 Limited Bonben Assurance 13 Limited Life BOE 12 Limited Insurance Barinor 11 Society AVBOBMutual Assurance 10 Life Assupol 9 Limited Life Dutch Anglo 8 Limited Life Channel Alternative 7 Limited Life Gray Allan 6 Limited Company Insurance Algoa 5 Limited ForbesLife Alexander 4 Limited South Life Africa AIG 3 Limited Company Life Assurance African 2 Limited Life Absa 1 INSURERS PRIMARY 2005 DECEMBER 31 ATAS ADDRESSES AND NAMES S R E R U S N I M R E T - G N O L D E R E T S I G E R – 1 E L B TA P O Box 785700 Sandton 2146 Sandton 785700 Box O P Cape 1826 TownBox O P 8000 7551 Durbanville 1781 Box O P 2041 Houghton 87428 Box O P 7735 Claremont 23855 Box O P 2146 Sandton 786015 Box O P Cape 2215 TownBox O P 8000 0001 Pretoria 4512 Box O P 2146 Sandton 786722 Box O P Parklands 2121 471917 Box O P Cape 993 TownBox O P 8000 2060 Cramerview 1436 Box O P 2128 Rivonia 1316 Box O P 7735 Claremont 23388 Box O P Parklands 2121 1273 Box O P 2000 Johannesburg 10499 Box O P 2125 Randburg 3315 Box O P 4018 End East 149175 Box O P 3556 Box 7536 O Tygervalley P 0001 Pretoria 1661 Box O P Park Menlo 0102 35900 Box O P X50280 8002 Bag Waterfront Private Parklands 2121 1273 Box O P 51318 Box V&A O P 8001 Waterfront 6002 Place Moffat 12270 Box O P 2146 Sandton 787240 Box O P 2017 Braamfontein 31983 Box O P 2041 Houghton 1941 Box O P 2000 Johannesburg 421 Box O P POSTAL ADDRESS ADDRESS POSTAL 60 RMB Structured Life Limited Limited Life Structured RMB 60 Limited Company Life RMA Assurance 59 Limited Assurance Rentmeester 58 Limited Company Life Assurance Relyant 57 Limited Company Life Assurance Regent 56 Limited People Company Real Assurance 55 Limited Company Insurance Prosperity 54 Limited Company Insurance Society Provident Professional 53 Limited Life Pinnafrica 52 Limited (South Africa) Company Life Assurance Mutual Old 51 Risk TransferMutual Limited Old Alternative 50 Partners Limited Life Nova 49 Limited Company Life NIB Assurance 48 Limited Company Insurance Life Era New 47 Limited Life Netcare 46 Limited Corporation Nestlife Assurance 45 Limited Company Life Assurance Nedgroup 44 Limited Company Life MS Assurance 43 Limited Group Momentum 42 Limited Momentum Ability 41 Limited Odyssey Metropolitan 40 Limited Life Metropolitan 39 Limited International Life Metropolitan 38 Limited Company Mclife Assurance 37 Limited Life Cubed M 36 Limited Company of Life Lion Assurance Africa 35 Limited Group Liberty 34 Limited Liberty Active 33 Beperk Lewens KGA 32 Limited Solutions Investment 31 INSURERS PRIMARY ABLE 1 – REGISTERED LONG-TERM INSURERS R E R U S N I M R E T - G N O L D E R E T S I G E R – 1 E L B TA P O Box 652659 Benmore 2010 Benmore 652659 Box O P 2107 Marshalltown 61413 Box O P 2000 Johannesburg 10499 Box O P 4000 Durban 3699 Box O P 1610 Edenvale 4155 Box O P 19610 Box TecomaO P 5214 1725 Roodepoort 86 Box O P 2041 Houghton 1089 Box O P Park 2052 Sloane 98758 Box O P Cape 66 TownBox O P 8000 Cape 455 TownBox O P 8000 2116 Northlands 55674 Box O P 4018 End East 149175 Box O P 2017 Braamfontein 31890 Box O P 2010 Benmore X34 Bag Private 2041 Houghton 2919 Box O P 4018 End East 149175 Box O P 2021 Bryanston 67335 Box O P 0046 Centurion 7400 Box O P 2146 Sandton 786600 Box O P 4045 Box O Tyger P Valley7536 7535 Bellville 2212 Box O P 7535 Bellville 2212 Box O P 4000 Durban 794 Box O P 2024 Craighall 41259 Box O P 7760 215 Box O Athlone P 2000 Johannesburg 10499 Box O P 2000 Johannesburg 3329 Box O P 7535 Bellville 884 Box O P 2146 Sandton 786055 Box O P POSTAL ADDRESS ADDRESS POSTAL NAMES AND ADDRESSES AS AT 31 DECEMBER 2005 DECEMBER 31 ATAS ADDRESSES AND NAMES
0013 0014 80 Swiss Re Life and Health Africa Limited Limited Health and Africa Life Re Swiss 80 Limited Reinsurance Saxum 79 Limited South of Africa Company Reinsurance RGA 78 of Limited Company Africa Reinsurance Munich 77 Limited Africa Reassurance Life Hannover 76 Limited Africa Reinsurance General 75 Limited (SA) Corporation Reinsurance African 74 REINSURERS Limited Company Universal Assurance 73 Limited Ten-50-SixLife 72 Limited Superflex 71 Limited Multi-Manager Stanlib 70 Limited, Company The Insurance General Standard 69 Limited South of Africa Sentry Assurance 68 Limited Insurance Life Sanlam 67 Limited Insurance Customised Sanlam 66 Limited Company Life SAHL Assurance 65 Limited Life Sage 64 Limited Company Insurance Safrican 63 Limited Life Eagle SA 62 Limited Life Assurers Saambou 61 INSURERS PRIMARY 2005 DECEMBER 31 ATAS ADDRESSES AND NAMES S R E R U S N I M R E T - G N O L D E R E T S I G E R – 1 E L B TA P O Box 72209 Parkview 2122 72209 Box O P 2041 Houghton 1634 Box O P Cape TownNewlands Roads 7700 Main & Compground Cnr Main On Fedsure House Letterstedt Floor 8th 2000 Johannesburg 6636 Box O P 2000 Johannesburg 10842 Box O P Cape 444 TownBox O P 8000 2041 Houghton 3013 Box O P 2041 Houghton 1941 Box O P 7735 Claremont 23204 Box O P 2146 Sandton 786055 Box O P 2076 Melrose X1 Arch P/Bag 1685 House Halfway X170 P/Bag 2041 Houghton 1941 Box O P 7532 Sanlamhof 1 Box O P 7532 Sanlamhof 1 Box O P 4000 Durban 3918 Box O P 2000 Johannesburg 290 Box O P 2000 Johannesburg 616 Box O P 2107 Marshalltown 61489 Box O P 2000 Johannesburg 10499 Box O P POSTAL ADDRESS ADDRESS POSTAL ADDRESS POSTAL (under judicial management) judicial (under Limited Corporation Life Assurance Crusader Limited Life Metropolitan 29 Limited Company Insurance Crusader 28 Cook,David T 27 Limited SA of Company Life Union Assurance Commercial 26 Limited SA of Company Union Assurance Commercial 25 Limited Company Union Assurance Commercial 24 Society Life Assurance Mutual Colonial 23 Limited Company Capital Assurance 22 Limited Hope Good Assurance Of Cape 21 Brummer, (WH Seun, JPS & as) Brummer trading 20 Limited (Pty) Insurers Brothers Bourne 19 as) Seuns,Bolt, & trading (RH Bolt EE 18 Limited (Pty) Fund Funeral Bodley’s 17 Beperk (Edms) Begrafnisfonds Berrange 16 Limited Insurance Barinor 15 Limited Company Insurance Avon 14 Limited Company Insurance Protection Auto Limited (Pty) Society Burial Organisation Peoples’ African 13 as) Roberts, FC trading and (TWJ Limited (Pty) Society Burial APO 12 Limited Company Insurance Allied 11 Limited Life Allianz Homes Limited Trust Company Life Assurance 10 Limited Company Alliance Assurance Limited (Pty) Fund Funeral 9 Brothers Alexander and (WM 8 WFJ Brothers Alexander, as) Alexander trading Limited (Pty) 7 Furnishers Funeral African Limited Society 6 Life Eagle Assurance African Limited Company 5 Insurance Affiliated Limited (Pty) Society 4 Benefit Funeral Adlams 3 Limited Insurers ACA 2 Limited Life AA Assurance Association 1 TRANSFEROR ABLE 2 – TRANSFERS OF LONG-TERM BUSINESS S S E N I S U B M R E T - G N O L F O S R E F S N A R T – 2 E L B TA TRANSFEREE TRANSFEREE Hollard Life Assurance Company Limited Company Life Assurance Hollard Limited Corporation Life Assurance Security Home Limited Trust Company Life Assurance Limited SA of Company Life Union Assurance Commercial Limited SA of Company Union Assurance Commercial Society Life Assurance Mutual South African Society Life Assurance Mutual South African Limited (Pty) Company Insurance Rogers Limited (Pty) Company Insurance Funeral Brummers Limited (Pty) Company Insurance Rogers Beperk (Edms) Grobbelaar Versekeringsmaatskappy J E Limited Group Funeral Assurances Homes Limited Trust Company Life Assurance Limited Holdings Investment Bollard Society Life Assurance Mutual South African Homes Limited Trust Company Life Assurance Limited Life Absa Beperk Lewensversekeraars Momentum Limited Company Protea Assurance Homes Trust Company Life Assurance Homes Limited Trust Company Life Assurance Limited Company Life Assurance Guarantee Limited Company Insurance General Standard Homes Limited Trust Company Life Assurance Limited Life Capital Alliance Limited General Assurances Amalgamated CONFIRMED UP TO 31 DECEMBER 2005 DECEMBER 31 TOUP CONFIRMED DATE EFFECTIVE
0015 0016 57 Jones & Rice (Pty) Limited Limited (Pty) Rice & Jones Limited Group Funeral Assurances 57 Limited (Pty) Fund Funeral Jones 56 as) Jones,EAG and trading Miles (WF Fund, JG Funeral Jones Homes Limited TrustCompany Life Assurance 55 Beperk (Edms) Begrafnis Versekeringsmaatskappy Johannesburg 54 Company Insurance Funeral International Homes Limited TrustCompany Life Assurance 53 J. Limited, (Pty) Sons and Human A. 52 Limited Funeral Pitt & Human 51 Beperk (Edms) Begrafnismaatskappy Hottentots-Holland 50 J. Limited, Hoogendoorn S. 49 Homes Limited Trust Company Life Assurance 48 Limited Company Insurance National Guardian 47 Limited Company Life Assurance Guarantee 46 as) trading Mosaka, (PR Society Burial Goodwill 45 & Limited Goodall Williams 44 Limited Company Insurance Global 43 Limited (Pty) Fund Funeral 42 Limited Firstrand business) life credit (All 41 Limited Life Fedsure Assurance 40 Erasmus,N. J. 39 Limited Company Life Assurance Equity 38 Beperk (Edms) Grobbelaar Versekeringsmaatskappy J E 37 as) Horace, (NFH trading Society Burial District Eastern 36 Limited Company Insurance Star Eagle 35 Limited (Pty) Fund Funeral Dove’sSA 34 Dove,J. W. 33 business) (Funeral Limited Corporation Insurance Dove 32 Limited Corporation Insurance Dove management) judicial (under 31 Limited Corporation Life Assurance Crusader 30 TRANSFEROR 2005 DECEMBER 31 TOUP CONFIRMED S S E N I S U B M R E T - G N O L F O S R E F S N A R T – 2 E L B TA TRANSFEREE TRANSFEREE Homes Homes Limited Trust Company Life Assurance Limited Group Funeral Assurances Homes Limited Trust Company Life Assurance Limited Group Funeral Assurances Limited Group Funeral Assurances Limited Group Funeral Assurances Homes TrustLimited Metropolitan Life Limited Company Insurance Life Charter Limited Society Life Eagle Assurance African Homes Limited Trust Company Life Assurance Homes Limited Trust Company Life Assurance Limited Life Capital Alliance Homes Limited Trust Company Life Assurance Limited Insurance Firstrand Limited Company Life Assurance Hollard Homes Limited Trust Company Life Assurance Limited Company Insurance Ned-Equity Limited Assurance Rentmeester Homes Limited Trust Company Life Assurance Limited Society Life Eagle Assurance African Homes Limited Trust Company Life Assurance Homes Limited Trust Company Life Assurance Homes Limited Trust Company Life Assurance Homes TrustLimited Metropolitan Life Limited, Life TheAssociation Southern DATE EFFECTIVE 86 Pearl Assurance Company Limited Limited Pearl Company Assurance 86 Limited (Pty) Fund PaarlFuneral 85 Omega VersekeraarsBeperk 84 Society Insurance Life Union Norwich Limited SA of Company Union Assurance Commercial 83 Limited South Life Africa Norwich 82 Limited Company Northern Assurance 81 Limited Company Insurance Mercantile and British North 80 Limited (SA) Company Insurance Zealand New 79 Limited Company India New Assurance 78 Limited (Pty) Fund Funeral Neaser’s 77 Limited (1993) Company Insurance NBS 76 Limited (Pty) Life Union Assurance National 75 Limited of Life Australasia Association Mutual National Society Life Assurance Mutual South African 74 Limited (Pty) Funeral Assurance National 73 Limited Company Insurance Mutual Farmers Union National 72 Limited (Pty) Society Burial Natal 71 Limited Life Metropolitan Beperk Korporasie Momentum Assuransie 70 business) (Lesotho Limited Life Metropolitan 69 Namibia) in (Registered Limited Namibia Life Metropolitan 68 Limited Company Reinsurance General & Mercantile 67 Company Insurance Life Manufacturers’ 66 Limited Company and Accident Guarantee London 65 London Assurance 64 Limited Corporation Scottish Assurance and London 63 Limited Lifegro Assurance Limited SA of Company Insurance Netherlands 62 NV 1845 van Nederlanden de van Lewensversekeringsmaatskappy 61 Limited Society General & Assurance Legal 60 Limited Company Insurance Rock and Union Law 59 Limited (Pty) Insurers Funeral Rice & Jones 58 TRANSFEROR ABLE 2 – TRANSFERS OF LONG-TERM BUSINESS S S E N I S U B M R E T - G N O L F O S R E F S N A R T – 2 E L B TA TRANSFEREE TRANSFEREE Union National South British Insurance Company Limited Company Insurance British South National Union Limited Group Funeral Assurances Onderlinge Versekeringsgenootskap AVBOB Limited SA Life Norwich Limited Life Fedsure Assurance Limited SA of Company Union Assurance Commercial Limited Life AA Association Limited Company Universal Assurance Homes Limited Trust Company Life Assurance Limited Company Life NBS Assurance Homes Limited Trust Company Life Assurance Limited Life Sage Homes Limited Trust Company Life Assurance Homes Limited Trust Company Life Assurance Beperk Lewensversekeraars Momentum Limited Lesotho Metropolitan Limited SA of Company Reinsurance General & Mercantile of Limited Life Africa Association Liberty Limited Company SA of Assurance Phoenix Limited Company Protea Assurance Limited SA of Company Union Assurance Commercial Beperk Lewensversekeraars Momentum Limited SA of General & Assurance Legal Limited Company Insurance Royal Homes Limited Trust Company Life Assurance CONFIRMED UP TO 31 DECEMBER 2005 DECEMBER 31 TOUP CONFIRMED 01/01/2004 DATE EFFECTIVE
0017 0018 111 South African Trade Union Assurance Society Limited, The Amalgamated General Assurances Limited General Assurances Amalgamated Life Association, Southern The 113 Limited Company Cross Assurance Southern 112 South Limited, African Trade Society TheUnion Assurance 111 FriendlySociety Harbours and Railways South African Limited Company 110 Limited Society Life Eagle Assurance African Insurance General Fire and Mutual South African 109 Limited Company FireInsurance and South African Accident 108 Limited Company Insurance Eagle South African 107 Beperk Senator Versekeringsmaatskappy business) service investment (Linked 106 Limited Insurance Life Sanlam 105 business) (Namibian Limited Insurance Life Sanlam 104 Limited Company Insurance Royal 103 Exchange Assurance Royal 102 Sons, & as) Rogers, HH Rogers trading and (PJ WH 101 GH Rogers 100 H Geo Limited, (Pty) Fund Funeral Rogers 99 Fund Funeral Rogers 98 as) trading Robertson, FC and (JJ Brothers Robert 97 Limited Company Life Rand Assurance 96 Limited (Pty) Company Funeral Prudential 95 Limited SA of Company Prudential Assurance 94 Limited Company Prudential Assurance 93 Limited Company Protea Assurance 92 Limited Company Insurance Prosperity 91 Pretorium TrustBeperk (Koöperatief) 90 L Limited, (Pty) Pitt 89 Limited Society Burial District and Pietermaritzburg Minnaar, GW and as) trading Robertson (P 88 Company & PeterRobertson 87 TRANSFEROR 2005 DECEMBER 31 TOUP CONFIRMED S S E N I S U B M R E T - G N O L F O S R E F S N A R T – 2 E L B TA TRANSFEREE TRANSFEREE Anglo American Life Assurance Company Limited Limited Company Life Anglo Assurance American Limited Company Life Assurance Metropolitan South African Limited (Pty) Company Insurance Rogers Society Life Assurance Mutual South African Limited Society Life Eagle Assurance African VersekeraarsRentmeester Beperk Limited (Pty) Portfolios Personal Sanlam Limited Namibia Sanlam Society Life Assurance Mutual South African of Limited Life Africa Association Liberty Limited (Pty) Company Insurance Rogers Limited Group Funeral Assurances Limited Group Funeral Assurances Limited (Pty) Company Insurance Rogers Limited (Pty) Society Burial Organization Peoples’ African Beperk Lewensversekeraars Momentum Homes Limited Trust Company Life Assurance of Limited Life Africa Assurance Liberty Limited SA of Company Prudential Assurance Limited Company Life Protea Limited Company Insurance Life Era New VersekeraarsRentmeester Beperk Limited Group Funeral Assurances Homes Limited Trust Company Life Assurance Homes Limited Trust Company Life Assurance DATE EFFECTIVE 137 Yorkshire Insurance Company Limited Limited Company YorkshireInsurance 137 Limited Company Life Yorkshire-General Assurance 136 Limited (Pty) Davey Wilson 135 Limited Western Assurances as) Coetzee, (DJ trading 134 Begrafnisgenootskap Waterberg Limited Group Funeral Assurances 133 Limited Society and Fund Assurance Funeral Hardick & Wasserfall 132 Limited Company Insurance Universal 131 Limited (Pty) Company Burial Universal Limited South of Africa 130 and Assurance Association Provident United 129 Limited Company Uni-Protection 128 Limited Company Insurance and Guarantee Union 127 Unie VersekeraarsBeperk 126 Limited Company Insurance UBS 125 business) (Long-term Limited Southern Africa Re Swiss business) (Short-term 124 Limited Southern Africa Health and Life Re Swiss 123 John Limited, Swift 122 John Limited, (Pty) Society Funeral Assurance Swift 121 Suid-Afrika van Landboubank en Land- Limited Superflex 120 Canada of Company Life Sun Assurance 119 Beperk Verbandversekeringsmaatskappy Suid-Afrikaanse Beperk Begrafnisversekeringsverenigings 118 van Federasie Suid-Afrikaanse 117 Limited Company Insurance STBS 116 Company Life Assurance Standard 115 Limited, TheInsurance General Standard 114 TRANSFEROR ABLE 2 – TRANSFERS OF LONG-TERM BUSINESS S S E N I S U B M R E T - G N O L F O S R E F S N A R T – 2 E L B TA TRANSFEREE TRANSFEREE Yorkshire-General Life Assurance Company Limited Company Life Yorkshire-General Assurance Beperk Lewensversekeraars Momentum Homes Limited Trust Company Life Assurance Onderlinge Versekeringsgenootskap AVBOB Beperk Begrafnisversekeringsverenigings van Federasie Suid-Afrikaanse Limited Company Capital Assurance Limited Company Life Permanent Assurance (Mr Gunn) AH TheLiquidator of Limited, Africa Corporation Provident Assurance Limited Company Life Permanent Assurance Limited Company Life Assurance Metropolitan South African Onderlinge Versekeringsgenootskap AVBOB Limited Life Absa Limited Southern Africa Health and Life Re Swiss Limited Southern Africa Re Swiss Homes Limited Trust Company Life Assurance Homes Limited Trust Company Life Assurance Limited Solutions Investment of Limited Life Africa Association Liberty Homes TrustLimited Metropolitan Life Limited Company Insurance UBS Lewensassuransiemaatskappy Nasionale Suid-Afrikaanse Limited Life Capital Alliance CONFIRMED UP TO 31 DECEMBER 2005 DECEMBER 31 TOUP CONFIRMED DATE EFFECTIVE
0019 0020 2 GoaladCmayFnrlAsrneScey(t)Lmtd 500 Limited Benefits Employee Investec 30 Limited Investec Assurance 29 Limited Life HTG 28 Limited Company Life Assurance Hollard 27 000 5 Limited Company Life Assurance Harvest 26 000 2 Limited Life Guardrisk X 25 Limited (Pty) Society Funeral Assurance Company and Goodall X *24 Limited (Pty) Bourne and Assurance Goodall X 23 000 1 Beperk (Edms) Grobbelaar Versekeringsmaatskappy J E *22 Limited Life Discovery X 21 Limited Insurance Life Corpcapital *20 Limited Company Life Assurance Coronation 19 Limited Company Health & Assurance Life Constantia 18 Limited Company Life Assurance Clientele 17 Limited Life Citadel 16 Limited Life Channel 15 Limited Life Capital Alliance 14 Limited Bonben Assurance 13 Limited Life BOE 12 Limited Insurance Barinor *11 Society AVBOBMutual Assurance 10 Life Assupol 9 Limited Life Dutch Anglo Limited Life *8 Channel Alternative 7 Limited Life Gray Allan Limited 6 Company Insurance Algoa 5 Limited ForbesLife Alexander 4 Limited South Life Africa AIG Limited 3 Company Life Assurance African 2 Limited Life Absa 1 INSURERS PRIMARY 2005 DECEMBER 31 ATAS S R E R U S N I M R E T - G N O L H C I H W D R E O R F E T S S E I I G C E I R L O E P R E – W 3 E L B TA X ****
ASSISTANCE 1 0 X X X X X X X X X X X X X X X X 000 10 X X X X X 000 10 X 000 10 X X X X 000 10 X X X 000 10 X X X X X X X X X X X X 000 10 X X X X X X 000 10 X X 000 10 X 000 10 X X X X X X X 000 10 X X X X X X X X X X X 000 10 X X X 000 10 X X X 000 10 X X 000 10 X 000 10 X X
10 000 X X X X X X X X X X 000 10
AMOUNT
ASSISTANCE X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X
**** DISABILITY
X FUND
**** **** HEALTH X X X X X
**** LIFE
SINKING FUND SINKING
RECLASSIFIED ***
4(7) SECTION 1 l uulLf suac opn SuhArc)Lmtd 1 0 X X X X X Limited Life Structured RMB X 60 Limited Company Life RMA Assurance 59 X Limited Assurance Rentmeester 58 Limited Company Life Assurance Relyant X 57 Limited Company Life Assurance Regent 56 X Limited Company PeopleInsurance Real **55 Limited Company Insurance Prosperity 000 10 54 Limited Company Insurance Society Provident Professional X 53 Limited Life Pinnafrica 52 Limited (South Africa) Company Life Assurance Mutual Old 51 Risk TransferMutual Limited Old Alternative 50 Partners Limited Life Nova 49 Limited Company Life NIB Assurance 48 Limited Company Insurance Life Era New 47 Limited Life Netcare 46 Limited Corporation Nestlife Assurance 45 Limited Company Life Assurance Nedgroup 44 Limited Company Life MS Assurance 43 Limited Group Momentum 42 Limited Momentum Ability 41 Limited Odyssey Metropolitan 40 Limited Life Metropolitan 39 Limited International Life Metropolitan 38 Limited Company Mclife Assurance 37 Limited Life Cubed M 36 Limited Company of Life Lion Assurance Africa 35 Limited Group Liberty 34 Limited Liberty Active 33 Beperk Lewens KGA 32 Limited Solutions Investment 31 INSURERS PRIMARY ABLE 3 – POLICIES FOR WHICH LONG-TERM INSURERS S R E R U S N I M R E T - G N O L H C I H W R O F S E I C I L O P – 3 E L B TA
ASSISTANCE 1 0 X X X X X X X X X X X X X X X X X X X X 000 10 X 000 10 X X X X X 000 10 X X X X X 000 10 X X X X 000 10 X X X 000 10 X X X X 000 10 X X X X X X 000 10 X X X X X X X X X 000 10 X X X 000 10 X X X X X X X X X 000 10 X X X X X X 000 10 X X X X X X X X 000 10 X 000 10 X X X X 000 10 X X X X 000 10 X X X X 000 10 X X X 000 10 X X 000 10 000 10 X X
AMOUNT
ASSISTANCE X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X
**** DISABILITY X
**** FUND D E R E T S I G E R E R E W X
AS AT 31 DECEMBER 2005 DECEMBER 31 ATAS HEALTH
**** LIFE X
**** SINKING FUND SINKING
RECLASSIFIED ***
4(7) SECTION
0021 0022 **** New policies included in the registration of insurers during the period under review. under period the during insurers of registration the in included policies New **** product. life a to ancillary an as benefits retrenchment underwrite to authorised is Insurer *** review. under period the during registered insurers New review. under period the during companies dormant as well ** as business of Run-offs * TOTAL Limited Health and Africa Life Re Swiss 80 Limited Reinsurance Saxum *79 Limited South of Africa Company Reinsurance RGA 78 of Limited Company Africa Reinsurance Munich 77 Limited Africa Reassurance Life Hannover 76 Limited Africa Reinsurance General 75 Limited (SA) Corporation Reinsurance African 74 REINSURERS Limited Company Universal Assurance *73 Limited Ten-50-SixLife 72 Limited Superflex 71 Limited Multi-Manager Stanlib 70 Limited, Company The Insurance General Standard 69 Limited South of Africa Sentry Assurance *68 Limited Insurance Life Sanlam 67 Limited Insurance Customised Sanlam 66 Limited Company Life SAHL Assurance **65 Limited Life Sage 64 Limited Company Insurance Safrican 63 Limited Life Eagle SA 62 Limited Life Assurers Saambou 61 INSURERS PRIMARY 2005 DECEMBER 31 ATAS S R E R U S N I M R E T - G N O L H C I H W D R E O R F E T S S E I I G C E I R L O E P R E – W 3 E L B TA 54 54
X 10 000 X X X X X X X X X X X X X X X X X X X X X X X X X X X X X 000 10 X X X 000 10 X X X 000 10 X X X 000 10 X X X 000 10 X X 000 10 X 000 10 X X X X X X X X X X X 000 10 X X 000 1 X X X X X X X 000 10 X X X X X 000 10 X X 000 10 X X 000 10 X 000 10 X X ASSISTANCE
AMOUNT
ASSISTANCE
7 3 7 4 7 28 47 74 37 53 57 X X X X X X X X X X X X X X X
DISABILITY
FUND
HEALTH
LIFE
SINKING FUND SINKING
RECLASSIFIED ***
**** 4(7) SECTION 30 Falken Funeral Fund (Pty) Limited Limited (Pty) FalkenFund Funeral 30 Limited SA of Company Insurance Dominion 29 Limited Health Discovery Limited International Metropolitan 28 Limited Corporation Life Assurance Crusader 27 Limited Life Union Commercial 26 Limited SA of Company Life Union Assurance Commercial 25 Limited, SA of The Company Reinsurance Cologne 24 Limited Company Insurance Life Charter 23 Limited Risk Capital Assurers Alliance 22 Limited Funeral Assurance Hope Good of Cape 21 Limited Funeral Assurance Hope Good of Cape Cape of Good Hope Funeral Assurance and Undertakers (Pty) Limited 20 Limited (Pty) Company Insurance Funeral Brummers 19 Limited (Pty) Insurers Funeral Brothers Bourne 18 Limited Holdings Investment Bollard ACA VersekeraarsBeperk 17 Limited Company Life BOE Assurance 16 Limited SA of Company Assurance Continental and Atlantic 15 Limited Company Life Anglo Assurance American 14 Limited Company Life Assurance Anchor 13 and M of Limited T Company Life Assurance Anchor Beperk Lewensversekeraars Momentum 12 Limited General Assurances Amalgamated Limited Company of Life Lion Assurance Africa 11 Beperk Lewensversekeringsgenootskap Afrikaanse Verbond Beperk 10 Begrafnisonderneming Verbond Afrikaanse Limited (Pty) Society Burial 9 Organization Peoples’ African Limited 8 Society Life Assurance African 7 Limited Company Homes Trust African Insurance and Limited Company Indemnity and 6 Guarantee African Limited Company 5 Life Assurance Eagle African 4 Limited Insurers ACA 3 Limited Life Assurance Mutual Association AA 2 Limited Life AA Association 1 NAME PREVIOUS ABLE 4 – NAME CHANGES OF LONG-TERM INSURERS R E R U S N I M R E T - G N O L F O S E G N A H C E M A N – 4 E L B TA CHANGED NAME NAME CHANGED Bourne Brothers Funeral Insurance (Pty) Limited (Pty) Insurance Funeral Brothers Bourne Limited Life Assurance Mutual Association AA Limited Life Discovery Limited Company Life Assurance Clientele Limited Company Life Protea Re Limited, Cologne Africa & The General Limited Liberty Active 01/02/2000 Limited, Company The Insurance General Standard Limited Hope Good Assurance of Cape Limited Company Health & Assurance Life Constantia Limited (Pty) Insurers Brothers Bourne Limited Insurance Barinor Limited Company NedLife Assurance Limited Life TheAssociation Southern Limited PSG Life Anchor Limited Company Life Assurance Anchor Limited Life Capital Alliance Onderlinge Versekeringsgenootskap AVBOB Limited Society Life Eagle Assurance African Homes Limited Trust Company Life Assurance Limited Company Life Assurance Guarantee Limited Company Life Anglo Assurance American Limited Risk Capital Assurers Alliance Limited Life AA Assurance Association Limited Life BOE UP TO 31 DECEMBER 2005 DECEMBER 31 TOUP DATE EFFECTIVE 04/12/2000 24/02/1999 09/09/2003 01/06/1999 03/12/2004 01/02/2001 22/10/2004 07/07/1999
0023 0024 60 Life and Pensions Assurance Corporation Limited Limited Corporation Pensions and Life Assurance 60 of Limited Life Africa Association Liberty 59 Limited Corporation Life Nest Assurance Les’ 58 General & Limited Volkskas Legal Assurance 57 Limited SA of General & Assurance Legal 56 Limited Society Burial International 55 Limited Life Incentive 54 Limited Company Life IGI Assurance Limited Africa Reassurance Life Hannover 53 Limited SA of Company Reassurance Life Hollandia 52 Limited Company Reassurance Life Hollandia 51 Limited Company Reassurance Health and Life Hollandia 50 Limited Company Life Haven Assurance 49 Limited Company Life Assurance Harvest 48 Limited Company Life Assurance Guarantee 47 J E Beperk, (Edms) Begrafnisfonds Grobbelaar 46 Limited SA of Company Reinsurance Global Gerling 45 Company Life Assurance General 44 Re Limited Africa GeneralCologne 43 Re Limited, Cologne Africa & The General 42 Limited Group Funeral Assurances 41 Limited ForbesLife 40 Limited Insurance Firstrand 39 Limited Life Fedsure Assurance 38 Limited Health Fedsure Assurance 37 Fedlife Limited Assurance 36 Limited Fedhealth Assurance 35 Limited Company Life Federated Assurance 34 Limited Company Insurance Federated 33 Limited Company Insurance Employers’ Federated Limited Company Insurance Employers’ Federated 32 Limited Company Insurance General Fire and Employers’ Federated 31 NAME PREVIOUS 2005 DECEMBER 31 TOUP S R E R U S N I M R E T - G N O L F O S E G N A H C E M A N – 4 E L B TA CHANGED NAME NAME CHANGED e’Ns ieAsrneCroainLmtd 04/08/1999 Limited Corporation Life Nest Assurance Les’ Limited Group Liberty Limited Corporation Nestlife Assurance Limited Lifegro Assurance General Volskas Limited and Legal Assurance Limited Company Insurance Funeral International Limited Life Dutch Anglo Limited General Assurances Amalgamated Limited Company Reassurance Life Hollandia Hollandia Life and 01/07/1999 Health Reassurance Company Limited 23/05/2000 Limited Company Life Assurance Hollard Limited Company Life Assurance Coronation Limited Company Life Assurance African Beperk (Edms) Grobbelaar Versekeringsmaatskappy J E Limited Reinsurance Saxum Company Life Yorkshire-General Assurance Limited Africa Reinsurance General Re Limited Africa GeneralCologne Limited Western Assurances Limited Solutions Investment Limited Group Momentum Limited Benefits Employee Investec Normkow Limited Assurance Limited Life Fedsure Assurance Limited Health Fedsure Assurance Fedlife Limited Assurance Limited Company Life Federated Assurance Limited Company Insurance Federated DATE EFFECTIVE 23/05/2000 01/08/2003 21/05/2003 27/03/2000 08/12/2003 11/06/2004 29/09/1999 24/07/2000 04/12/2001 90 Saflife Funeral Association Limited Limited Funeral Association Saflife 90 Beperk Rondalia SA van Versekeringskorporasie 89 Limited (Pty) Company Insurance Rogers 88 Limited Life PSG 87 Limited Life Escher PSG 86 Limited PSG Life Anchor 85 Limited Company Life Protea 84 Limited Company Preflife Assurance 83 Limited Company Life Permanent Assurance 82 Limited Life Nova 81 Normkow Limited Assurance 80 Limited SA of Company Insurance Netherlands 79 Limited Company Insurance Ned-Equity 78 Limited Company Nedlife Assurance *77 Limited Company Life Limited Assurance National Company Magnum Life NBS Assurance 76 Limited Company Insurance NBS 75 Limited SA of Company Life Assurance Employers’ National 74 Limited SA of Company Reinsurance Munich 73 Beperk Lewensversekeraars Momentum 72 Limited Health Momentum 71 Limited International Metropolitan Limited SA Health and Life Re Swiss 70 Homes TrustLimited Metropolitan Life 69 Limited SA of Company Reinsurance General and Mercantile 68 Limited Company Life Assurance Medscheme 67 Limited Company Life Assurance National Magnum 66 Limited Life Investment Cubed M *65 Limited Life Capital Cubed M 64 Limited Capital Cubed M 63 Lombard Waarborg Beperk VersekeringMaatskappy 62 Limited Investments Lodestone 61 NAME PREVIOUS ABLE 4 – NAME CHANGES OF LONG-TERM INSURERS R E R U S N I M R E T - G N O L F O S E G N A H C E M A N – 4 E L B TA CHANGED NAME NAME CHANGED Safrican Insurance Company Limited Company Insurance Safrican Beperk Senator Versekeringsmaatskappy Limited (Pty) Bourne and Assurance Goodall Limited Life Escher PSG Limited Life Investment Cubed M Limited Life Channel Limited Odyssey Metropolitan Limited Company Life Assurance Relyant Limited SA of Sentry Assurance Partners Limited Life Nova Limited Life Netcare 01/07/2005 Limited Company Insurance Ned-Equity Limited Life Sage Limited Company Life Assurance Nedgroup Limited Company Life BOE Assurance Limited (1993) Company Insurance NBS of Limited Company Africa Reinsurance Munich Limited Firstrand Limited Health Discovery Limited International Life Metropolitan Limited Life Metropolitan Limited Company Life MS Assurance Limited Health Momentum Limited Life Channel Alternative Limited Life Cubed M Limited Life Capital Cubed M Beperk Lombard VersekeringMaatskappy Limited Multi-Manager Stanlib UP TO 31 DECEMBER 2005 DECEMBER 31 TOUP DATE EFFECTIVE 19/09/2000 01/10/2002 04/06/2001 29/07/1999 28/01/1999 28/11/2000 11/05/2000 30/09/2003 06/09/2004 08/09/2005 15/03/2000 01/10/2002 25/04/2003
0025 0026 * Name changes during the period under review. under period the during changes Name * Company Life Yorkshire-General Assurance 119 Woltemade VersekeraarsBeperk 118 Beperk Voorsorg Limited 117 Company Insurance National Guardian Beperk VolksLewensassuransiemaatskappy 116 Limited Corporation Vista Assurance 115 Limited Company Insurance British South National Union Limited Company Insurance British South National Union 114 Limited SA of Company General Assurance National and Union 113 Limited Insurance TimeLife 112 Limited Company Reinsurance South African Swiss 111 Limited Insurance Life Sanlam Limited Southern Africa Health and Life Re Lewensassuransiemaatskappy Swiss Nasionale Suid-Afrikaanse 110 Beperk Lewensassuransiemaatskappy Nasionale Suid-Afrikaanse 109 Lewensassuransiemaatskappy Nasionale Suid-Afrikaanse 108 Limited, Company The Insurance General Standard 107 Life Association, Southern The 106 of Life Africa Association Southern 105 Limited Investec Assurance Limited, Life TheAssociation Southern 104 Limited (Pty) South African Workmen’sInsurance 103 South Limited, African Trade Society TheUnion Assurance 102 Police Fund South African Assurance 101 Homes TrustLimited Society Metropolitan Life Life Assurance Mutual South African 100 Beperk Rondalia SA van Versekeringskorporasie South African MiningandGeneral Assurance Company(Pty)Limited 99 Limited Company Life Assurance Metropolitan South African 98 Limited (Pty) Company Insurance Liberal South African 97 Limited Shilling Assurance 96 Limited Insurance Life Shield 95 Limited Corporation Life Assurance Security 94 Limited Safrican Association 93 and Limited Burial Aid for Safrican Association 92 Limited and (Pty) Burial Aid for Safrican Association 91 NAME PREVIOUS 2005 DECEMBER 31 TOUP S R E R U S N I M R E T - G N O L F O S E G N A H C E M A N – 4 E L B TA CHANGED NAME NAME CHANGED Yorkshire-General Life Assurance Company Limited Company Life Yorkshire-General Assurance Beperk Lewensversekeraars Saambou Omega VersekeraarsBeperk Limited Company Life Assurance Equity Limited Company Life Rand Assurance Limited Capital Cubed M Limited Southern Africa Re Swiss Limited Health and Africa Life Re Swiss Limited Life Nova Westerford Assurance Association Life Association Southern Limited Insurance Firstrand Limited (Pty) Company Insurance Rogers 17/05/1999 Life Assupol Limited (SA) Company Life Assurance Mutual Old Limited Company Insurance General Fire and Mutual South African Limited Company Life Permanent Assurance Limited Life Allianz Limited Corporation Life Assurance Crusader Limited Funeral Association Saflife Limited Safrican Association and Limited Burial Aid for Safrican Association DATE EFFECTIVE 01/08/2003 01/02/2000 14/12/1999 0039 0040 0002 0012 0015 0020 0023 1 2 3 4 TABLE PAGE TABLE Transfers of business Transfers Name changes of long-term insurers Report by the Registrar of Long-term Insurance Report by the Registrar Policies for which long-term insurers were registered were for which long-term insurers Policies Names and addresses of registered long-term insurers of registered Names and addresses
Physical address Telefax Rigel Park 012 347 0221 446 Rigel Avenue South Erasmusrand E-mail Pretoria [email protected]
Postal address Internet P O Box 35655 www.fsb.co.za Menlo Park 0102
Telephone 012 428 8000 Eighth Annual Report of the Registrar of Long-term Insurance Toll-free numbers 0800 202 087 and 0800 110 443 2005
03208 FSB [Long-term Insurance] Re:design creative communications Eighth Annual Report of the Registrar of Long-term Insurance 2005
ISBN 0-620-37139-0