Associated Broker/ Complete Insurance Solutions / DBN /JHB /CT

15/10/2026

05/10/2026

Medical aid increases are coming — but the headline percentage is only part of the story.

For 2027, the weighted average increases announced by the major open schemes are roughly:

• Bestmed: 7.35%
• Medihelp: 7.5%
• Momentum: 7.9%
• Discovery: 8.2%
• Bonitas: 8.7%

But here is the important part:

Do not change medical schemes simply because one increase looks higher than another.

A cheaper contribution can become very expensive if you lose access to your preferred hospital, specialist, chronic medicine, pharmacy network or important day-to-day benefits.

This year, advisers should be looking beyond premiums and asking:

Is my hospital still in the network?
Are my chronic medicines still covered on the formulary?
What are the co-payments?
What specialist tariff is covered?
How much of the “benefit” is actually my own medical savings?
What happens if I need surgery, oncology treatment, an MRI or specialist care?

Bonitas is a good example. Its average increase is 8.7%, but some plans are increasing by around 7.3%, while others are above 10%.

That means the answer is not:

“Move everyone.”

The answer is:

Review everyone properly.

Our approach for 2027 is simple:

Quote three. Compare properly. Recommend one. Document why.

The best medical aid is not necessarily the cheapest scheme.

It is the plan that gives you the right combination of affordability, hospital access, chronic cover, day-to-day benefits and protection when you actually need healthcare.

2027 should be the year of the proper medical aid review — not the quick switch.

04/10/2026

THE PIC’S R301 BILLION MARCH DROP: A TRANSPARENCY QUESTION

The PIC reportedly went from around R3.958 trillion in assets under management in February 2026 to R3.657 trillion by the end of March.

That is a decline of roughly R301 billion in one month.

The explanation has largely centred on the Middle East crisis and the resulting sell-off in equity and bond markets.

That explanation is plausible.

But given the scale of the movement, it is reasonable to ask for more detail.

The GEPF remains heavily exposed to South Africa, with more than 80% of its assets invested domestically, including significant exposure to government and SOE debt.

So when South African markets fall sharply, the PIC is naturally affected.

But assets under management can also change because of:

• Client withdrawals
• Currency movements
• Realised investment losses
• Property revaluations
• Unlisted investment revaluations
• Impairments

The PIC has also faced previous scrutiny over governance, investment processes and some unlisted investments.

The Mpati Commission identified weaknesses in historic investment processes and oversight, while the Auditor-General has raised concerns around compliance with certain investment policies.

More recently, the FSCA opened an investigation following whistleblower allegations relating to governance and transparency. Those allegations remain subject to investigation and should not be treated as established fact.

None of this means the PIC used the Middle East crisis to conceal losses.

But it does strengthen the case for fuller disclosure.

The simplest way to provide clarity would be to publish a detailed February-to-March reconciliation of the R301 billion movement.

How much resulted from equities?

How much from bonds?

How much from withdrawals?

How much from currency movements?

How much from realised losses?

And how much, if any, came from impairments or revaluations of unlisted investments?

If the movement was overwhelmingly driven by market repricing and normal portfolio flows, a detailed reconciliation would help demonstrate that clearly.

When an institution manages more than R3 trillion in retirement assets, transparency is not about creating suspicion.

It is about removing it.

Show the numbers. Let the numbers answer the questions.

03/10/2026

LOOKING BACK: THE 21ST CENTURY AGENT — ALMOST 30 YEARS LATER

Every now and then you come across a book that makes more sense years after you first read it.

For me, one of those books is Dan Sullivan’s The 21st Century Agent.

Published in 1998, it arrived as the insurance industry was beginning to change. I remember reading it while working in a world still centred around insurers, products, agents, paperwork and traditional distribution.

Sullivan’s message was bigger than predicting technology. He was describing the evolution of the insurance agent.

Looking back over almost three decades, that evolution has been remarkable.

We moved from paper files, fax machines and manual quotations to email, digital applications, CRM systems, online underwriting, automation, cloud platforms, video meetings, digital signatures and data analytics.

The products changed.
The insurers changed.
The regulation changed.
The technology changed.

But perhaps the biggest change was the role of the adviser.

The traditional agent was largely a distributor of a company’s products. The modern adviser became an entrepreneur — building a business around the client rather than around a product provider.

Today the relationship can extend across short-term insurance, life cover, investments, retirement planning, medical schemes, gap cover, wills, estate planning, employee benefits and business protection.

In many ways, that is what I believe Sullivan saw coming: advisers who could adapt, build relationships, create teams, use technology, develop systems and increase the value they delivered.

And now another layer has arrived: AI.

But AI is not the story. It is simply the latest tool in a journey that has been underway for decades.

Just as email replaced the fax, digital systems replaced paperwork and smartphones changed communication, AI will become another part of the adviser’s toolkit.

Technology should increase the adviser’s capability — not replace the relationship.

Looking back from 2026, what strikes me is how these developments have converged into one profession.

We are no longer simply insurance agents.

We are advisers, business owners, relationship managers, problem-solvers, risk managers, team leaders and users of increasingly sophisticated technology.

Yet one thing remains constant:

People still do business with people they trust.

Technology can make us faster and systems more efficient, but experience, judgement, accountability and relationships remain difficult to replace.

Perhaps that is the real legacy of Dan Sullivan’s vision.

The 21st Century Agent was never going to be defined by one technology. It would be defined by the ability to adapt while keeping the client at the centre of the business.

Nearly 30 years later, we are still becoming that agent.

01/10/2026

https://www.facebook.com/share/p/1Daii2Mr6z/

At Safire, we pride ourselves on being different. Our commitment to building meaningful relationships with brokers, clients, suppliers and staff is what sets us apart. We believe that true success lies in fostering long-term partnerships founded on trust, integrity and exceptional service. To keep ourselves accountable and ensure we consistently deliver on this commitment, we have embedded five promises into everything we do:

We promise to be FAIR AND FAST.
We promise to keep it personal - NO CALL CENTRES.
We promise that you’ll always have ACCESS TO DECISION MAKERS.
We promise to maintain our PROVEN TRACK RECORD.
We promise to always offer EXPERT ADVICE.

By keeping our word, we build trust with those we work with, strengthen relationships and create partnerships that stand the test of time.

24/09/2026

01/09/2026

15/08/2026

https://www.safireinsurance.com/

At Safire, we pride ourselves on being different. Our differences set us apart, and our focus on our relationships with our clients, suppliers and staff are embodied in the brightly coloured “five fingers” logo that symbolises a warm handshake, the global expression of trust. Each “finger” s...

07/03/2026

When Retirement Fund Delays Cost Clients Real Money

A recent ruling by the Office of the Pension Funds Adjudicator has once again highlighted an important principle in our industry:

Retirement fund administrators have a duty to process benefits within a reasonable time.

In the case involving Alexander Forbes, a member requested a withdrawal from his preserved provident fund while preparing for the birth of his twins.

Administrative delays resulted in the payment only being processed more than two months later.

Because of this delay the member had to:

• Finance a vehicle instead of paying cash
• Use credit facilities for pregnancy medical expenses
• Incur significant interest costs

The adjudicator ruled that the fund's conduct was administratively negligent, and ordered compensation for part of the financial prejudice suffered by the member

Why This Matters for Clients

Many clients assume retirement fund withdrawals are simple transactions.

In reality they involve:

• Tax directives from SARS
• Fund administrator processing
• Compliance checks
• Payment authorisation cycles

When these processes fail or stall, clients can suffer real financial harm.

The Adviser’s Role

As financial advisers operating under the principles of the Financial Advisory and Intermediary Services Act, we have a duty to act with due skill, care and diligence.

This means we should not simply submit paperwork and step away.

Good advisory practice includes:

✔ Monitoring withdrawal or transfer claims
✔ Escalating delays with administrators
✔ Keeping clients informed of realistic timelines
✔ Maintaining proper records of communication

This is also aligned with Treating Customers Fairly, particularly the principle that clients should not face unreasonable barriers when claiming benefits.

A Broader Industry Lesson

The retirement system relies heavily on administrative efficiency and trust.

When administration fails:

• Clients lose confidence
• Financial hardship can occur
• Regulatory intervention becomes necessary

Cases like this serve as an important reminder that operational governance is just as important as investment performance.

Final Thought

For advisers and administrators alike, the lesson is simple:

> A retirement benefit is not truly a benefit until it reaches the client when it is needed.

Timely administration is not just operational efficiency — it is part of treating customers fairly.