Latest news with #Santam
The Citizen
31-07-2025
- Automotive
- The Citizen
Kyalami Festival of Motoring gearing up as highlight of August
Tickets for the annual automotive showpiece are now on-sale. South Africa's biggest automotive showpiece, the Kyalami Festival of Motoring, returns to form at the end of August, with ticket now being available. Taking place from 29 to 31 August, the eighth edition of the now annual event will have vehicles exhibited from amongst others Toyota, Volkswagen, Isuzu, Suzuki, Mahindra, Subaru, Chery, BYD, BAIC, GAC, LDV, GWM Haval and MG. For some, it will mark the official debut of the exhibited product on South African soil ahead of the start of sales either at the end of the year or early next year. As before, the ever popular hot lap track driving experience returns, as does the self-driving opportunity on the in-field handling track, the 4×4 experience at the top section of the circuit, plenty of activities ranging from simulators to go-karts, plus a drifting showcase. In addition, early bird ticket buyers, i.e. before 00h00 on 3 August, will stand a chance of winning prizes worth R16 000. First: 2x VIP hot laps; Second: 2x VIP Experiences (minus hot lops); Third: 2x double passes to the Santam 'chill' pod As usual, the three-day event will be split into four sections, green, blue, yellow and red, and provide more than enough on-site non-motoring entertainment, as well as food stalls. Now loaded into ticket prices, per person, amount to the following: General Access: R295; General Access [children under four]: Free; General Access [children 4-12]: R82; General Access [pensioner 65+]: R260 Weekend Pass [all three days]: R700; Weekend Pass [pensioner 65+]: R665 Hosted by Santam, VIP Hospitality prices are as follows: Premium Hospitality with one hot lap: R4 200; Premium Hospitality with no hot lap: R2 200; Chill pod for kids under 5: Free Chill pod for kids under 5-12: R350; Chill pod for kids 12+: R850 Limited parking will be stationed at designated areas around the track, or alternatively, via a Park and Ride service departing from the Mall of Africa. Closing and opening times across the weekend are from 08h30 to 18h00. More information is provided at
News24
28-07-2025
- Business
- News24
Why insurance is essential for young South Africans
Almost half of working South Africans don't have cash saved for unexpected loss of income. Early insurance like disability and income protection can cost less while you're still young. You need to build a profile to show a good track record of being insurable. _________________________________________________________________ If you think insurance is only something for your 40s and beyond, your future self might want a word. Life is full of surprises. When it comes to protecting your income, whether you become disabled or pass away, many young South African in their 20s and 30s think it's something to worry about later, after climbing the career ladder, buying a home or starting a family. But this mindset can cost you more than you think. Research shows that 48 percent of South Africans in the workforce don't have enough cash in their savings to cover at least three months of living expenses. No savings mean that many are unprepared for any unexpected loss of income. Leruo Malumo, the head of product at Santam, says, 'Young people need insurance because it provides a way to bounce back from the financial shock of losing a key asset. This could be a phone, laptop, handbag or if you're more fortunate, a car. 'The better your insurance track record, the stronger your case for a lower premium, so it's never too soon to begin your insurance journey.' The common mistake of present bias The younger you are, the more income you still have to earn, which is why protecting it makes good financial sense. But many young professionals fall into the trap of putting off getting cover like life insurance. Sean Hanlon, the executive director at financial institution Bright Rock, describes this as present bias. 'Present bias explains why it's easy to ignore long-term planning like life insurance or income protection when you're young and healthy. The idea of a life event that could stop your income, like a serious illness or even death, feels remote. Instead, we focus on what's right in front of us: student loans, social life, helping out at home or upgrading our tech,' Sean explains. Delaying insurance and life costs more than one might think. Sean gives the example of a 25-year-old non-smoker might pay a small monthly premium for a robust life insurance policy that protects their income. 'If you wait until 40 to get one, you could be less fit and healthy, and even have a pre-existing condition like high blood pressure or raised cholesterol, which could make it harder or more expensive to get the same protection,'he adds. What kind of insurance should be on your radar? Just like with a credit profile, you need to build an insurance profile to show a good track record of being insurable. Atang Matebesi, Santam's CEO of client solutions, explains that young people usually claim for car theft or damages and personal items like phones and laptops. 'When considering what to insure, it helps to think about the items that would be financially devastating if they were lost or stolen. 'For example, if you are renting and don't need home insurance, you may still want house contents insurance particularly for items like your TV, white appliances, etc. as they would be costly to replace.,' Atang advises. Start small and know what to compare Start small with a basic insurance policy and educate yourself through reputable services like Smart Money or by consulting a financial advisor. Sean says, 'You don't need to get everything sorted on day one! Even a basic life policy or income protection benefit gives you a foundation to build on. If you don't have financial dependents, start with disability cover and then add life cover later, when your death would impact people who rely on your income.' But don't just go for the first quote you receive. Atang explains that young people ' should compare the excess structures, types of cover provided, terms and conditions of the policy, value added services, claim overturn ratio and customer reviews. A reputable claim paying record is also very important since claim payouts are ultimately what clients want from their insurer'.
Yahoo
26-07-2025
- Business
- Yahoo
Santam gets in principle nod for Lloyd's syndicate
South African general insurer Santam has secured in principle approval from Lloyd's to set up a syndicate in London. The planned syndicate, which will carry the name Santam Syndicate 1918, signifies the year the insurer was established. The business operations are due to begin from 1 January 2026. Santam expects its gross written premium in the London market to be between £300m ($403.94m) and £400m for 2026. The initiative is pending final approval and "permission to underwrite" in the fourth quarter of 2025, while awaiting regulatory clearances in South Africa. Santam Group CEO Tavaziva Madzinga said: 'The establishment of our own London market insurance operation gives our business a solid foundation for continued international growth and diversification. It becomes an important lever in achieving our 2030 FutureFit strategic ambition. 'This is a transformational step for Santam in our 107-year history. We are very excited about our partnership with Lloyd's and the expansion opportunities into new territories and classes that the new syndicate will offer.' Santam's portfolio encompasses products including agricultural, car, engineering, guest house, liability, property, reinsurance and tourism. Lloyd's chief commercial officer and Americas CEO Dawn Miller stated: 'The African continent is undergoing significant development and represents a huge opportunity for our industry to facilitate economic progress, impact and resilience. 'We look forward to welcoming Santam as the leading property and casualty insurer in Africa as they utilise Lloyd's as a platform for international expansion by unlocking its global licences and excellent financial strength.' Lloyd's, a global insurance and reinsurance market, allows members to operate syndicates that underwrite insurance risks. Recently, credit insurer Atradius also secured in principle authorisation from Lloyd's to set up a new syndicate from 1 January 2026. "Santam gets in principle nod for Lloyd's syndicate " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time Out
21-07-2025
- Business
- Time Out
Decorex Joburg 2025 takes over Sandton with 5 floors of design inspiration
Calling all design lovers! Decorex Joburg is back from 24 to 27 July 2025, and this year, it's taking over five levels of the Sandton Convention Centre with the best in interiors, architecture, lifestyle, kitchens, bathrooms, furniture and everything in between. Whether you're planning a home renovation, searching for standout decor, or just here for the inspo, this future-focused showcase is where style and creativity collide. After a buzzing run in Cape Town, the Joburg edition is upping the game with exclusive new features, big-name speakers and interactive displays presented by headline partners Samsung, Lexus and Santam. Among the highlights? A rare appearance by Decorex Joburg's Designer of the Year 2025, Charles O Job, the Zurich-based architect known for his sculptural seating and innovative design thinking. You can also roll up your sleeves in the Create Café ceramics studio, or watch daily cooking demos in the @home Cooking Studio, complete with Samsung kitchen tech and fresh ingredients delivered by Mr D. New for Joburg: The Bedroom Project, where local designers reimagine dreamy hotel-style bedrooms, and the Eiger Experience, a kitchen-lover's dream created with Denic Cabinets. The show's popular Future Talks series returns, featuring trailblazers like Stephen Klein and Sinegugu Ngxongo, offering insight into the future of design in Africa. Talks are included in your day ticket and held on the 100% Design Africa floor. From handmade African finds at the Capitec handmadeAFRICA Design MRKT to the luxe Lexus Design Pod, there's something to see, shop and do on every level.
News24
14-07-2025
- Automotive
- News24
4 insurance tips to protect your vehicle from hijacking and car theft
Road safety is of an utmost concern for South Africans, especially with the high rates of vehicle theft and carjackings. While recent SAPS reports show carjackings have decreased by 15 percent, that's still a whopping 4 533 incidents reported just between January and March 2025, making it about 50 cars hijacked a day. Everyday South Africans are placing crime like burglary, mugging and hijacking as one of their top risks, as seen in surveys like Santam's 2025 Insurance Barometer. 'It's encouraging to see the numbers trending down, but hijacking and theft are still far too common,' says Atang Matebesi, CEO of Santam Client Solutions. 'What's important is that we're now seeing what works, particularly when it comes to proactive interventions like enhanced tracking systems in high-risk vehicles.' Here are a few key takeaways Atang believes every vehicle owner should keep in mind: 1. Hijackings are replacing traditional theft According to Tracker, criminals are increasingly choosing hijackings over theft because modern vehicles are harder to steal when parked. Atang highlights that hijacking gives criminals immediate access to the vehicle and its contents without having to bypass sophisticated ignition and security systems. This shift means that owners need to be more vigilant when entering or exiting vehicles, especially in driveways, traffic queues and poorly lit areas. 2. Comprehensive insurance and affordable alternatives With hijackings and vehicle theft still an everyday reality, comprehensive vehicle insurance has become more critical than ever. 'It's not just about replacing the car,' Atang explains. 'It's about protecting yourself financially against the ripple effects of a loss. It all adds up, from car hire costs and excess payments to potential debt obligations if the vehicle is financed,' he says. 3. Install more than one tracking device can lower insurance premiums Insurance claims data show a noticeable decrease in hijacking and theft claims for vehicles fitted with two tracking systems. With two devices, the chance of vehicle recovery by tracking companies' increases, if one device is tempered with by hijackers the second device may still be functioning. 'These underwriting interventions are making a measurable difference,' Atang shares. 'Fitting a dual tracking system doesn't guarantee your vehicle won't be targeted, but it significantly increases the chances of recovery. A win for everyone.' 4. Extra layers of protection go a long way Insurers and security providers are constantly evolving their offerings to stay ahead of criminals. AI-powered dashcams, cargo door sensors and panic buttons are great ideas for business vehicles. For personal cars – along with installing multiple tracking devices – Atang says it's worth investing in early warning alerts and air-tags and parking in well-lit, secure locations (especially overnight) are good first steps to take. 'Insurance is just one part of the equation, prevention and recovery should be a joint effort between the vehicle owner, the insurer and security providers. With smart technology and better awareness, we can keep closing the gap between risk and safety,' says Atang.
