There are a whole lot of things going down in the short-term arena at the moment, that are bound to leave many players thinking... EISH!
Crime levels (although according to our government, the high crime rate is just a perception, not so?) and flood damage certainly won’t help claims ratios (i.e. premium : claims).
The possibility of a further interest rate hike this month will also exacerbate the knock-on effect the motor trade has felt with a slowdown due to the New Credit Act and registration system problems. (Speaking of which, do you know what e-Natis stands for? Eish Not Available Today Sorry!)
South African vehicle sales during July fell 6.4%, or 3 596 units, to 52 879 units compared with 56 475 new vehicles sold during same time last year, new sales data showed on Thursday. Sales statistics from the National Association of Automobile Manufacturers of South Africa (Naamsa) showed, however, that the decline was substantially less than that seen during the previous months. During June, sales fell a massive 12.1% to 50 056 units. Maybe early signs of a slight recovery?
And on a similar note:
South African short-term insurer Mutual & Federal posted an 11% decline in headline earnings per share to 187 cents in the six months to end-June as claims increased, the company said on Thursday. The company cited a substantial increase in the incidence and severity of large commercial fires, motor vehicle claims and extensive weather-related losses following storms in
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