‘Big squeeze’: Hollard frets over falling life cover
Analyst says rising cost of living is the chief culprit
04 October 2022 - 19:14
Hollard, SA’s biggest privately owned insurance group, is fretting over the falling number of consumers who have life insurance.
According to the Financial Sector Conduct Authority’s (FSCA) 2022 Financial Sector Outlook Study, only 10% of SA consumers have life insurance now, down from about 12% in 2019. Mark Berrington, head of strategy and insights at Hollard, says while this is likely due to a combination of factors, he believes the rising cost of living is the chief culprit, which is causing consumers to ditch their life insurance in an attempt to bolster their disposable income...
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