VAT pressure could hurt insurers
Old Mutual sees potential in East Africa, where there are prospects to grow market share after putting in three years of work to fix the business
20 April 2025 - 09:09
Insurance provider Old Mutual fears its clients could find it harder to afford their monthly premiums and meet other financial obligations if the VAT increase goes ahead on May 1.
“Premiums are not VAT-able fortunately, but [the VAT increase] puts more pressure on consumers in terms of monthly budgets and affordability, it is more concerning from the perspective of people's ability to pay their premiums than anything else,” CEO Iain Williamson said...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.