Covid-19 is a numbers game

Covid-19 is a numbers game

Covid-19 is a numbers game

Only a strategic response can alter the numbers of the Covid-19 outbreak, a leading South African risk manager has warned. Walter Ehrlich, Institute of Risk Management South Africa risk intelligence committee member, said: “If your only focus regarding Covid-19 is to look at operational crisis management, you need to rethink your approach. The war against Covid-19 must be fought by…

South African risk managers advised on coronavirus defence plan

South African risk managers advised on coronavirus defence plan

South African risk managers advised on coronavirus defence plan

South African risk managers have been given some key advice on how to manage the coronavirus risk in the coming days. Renisha Rajpaul, executive head of business risk at Vodacom Group, said: “China is currently the world’s second-largest economy and central to a diverse range of global supply chains. In an effort to contain the spread of the virus, the…

IRMSA warns risk managers to prepare for coronavirus outbreak

IRMSA warns risk managers to prepare for coronavirus outbreak

IRMSA warns risk managers to prepare for coronavirus outbreak

Risk managers in South Africa should be prepared for the possibility of the coronavirus (Covid-19) reaching Africa. The Institute of Risk Management South Africa (IRMSA) has stressed that risk managers must “recognise and state the risk as it could materialise in your organisation”. It explained that since the World Health Organization declared the coronavirus outbreak a Public Health Emergency of…

Five-year view sees risks materialise for South African companies

Five-year view sees risks materialise for South African companies

Five-year view sees risks materialise for South African companies

The Institute of Risk Management South Africa (IRMSA) has warned that looking back over the past five years, many risks have materialised. IRMSA is about to launch its South Africa Risk Report 2020 – the sixth edition – but said it was disappointing because first, South African and industry risk profiles have remained largely the same; and second, most of…

South African directors to face increased legal scrutiny in 2020

South African directors to face increased legal scrutiny in 2020

South African directors to face increased legal scrutiny in 2020

South African directors are set to face new pressures and legal challenges in 2020, according to legal experts. Lee Astfalck, of Clyde & Co in Johannesburg, warned: “Following months of parliamentary enquiries, investigations and commissions, 2020 will see a significant shift towards active steps being taken by companies, regulators and state authorities in bringing directors to task for alleged misconduct.”…

WTW to buy South African management consultancy

WTW to buy South African management consultancy

WTW to buy South African management consultancy

Willis Towers Watson (WTW) has agreed to buy South Africa-based management consultancy PE Corporate Services (PECS) for an undisclosed sum. WTW said the acquisition “strengthens the human capital and benefits capabilities of WTW South Africa and complements its global services in talent and reward solutions”. PECS and WTW South Africa have been strategic partners since 2014. PECS, which has employees…

Is it conflict of interest or relationships?

Is it conflict of interest or relationships?

Is it conflict of interest or relationships?

Conflict of interest has been topical in recent history, with the debacle of ‘state capture’ and scandals such as Steinhoff raising questions about the effectiveness of the governance structures existing within the corporate and public sectors in South Africa. Lindiwe Magobholi, Institute of Risk Management South Africa (IRMSA) risk intelligence committee member, asks: “Are governance structures even there? Do they…

Seelan Naidoo leaves Allianz for Swiss Re

Seelan Naidoo leaves Allianz for Swiss Re

Seelan Naidoo leaves Allianz for Swiss Re

Swiss Re Corporate Solutions has appointed Seelan Naidoo as head of property and specialty lines, South Africa, effective 1 February 2020. Mr Naidoo will be responsible for underwriting strategy and the development of the property and specialty portfolios in South Africa and Sub-Saharan Africa. Based in Johannesburg, he will oversee the general property, mining and energy, and engineering and construction…

Justice Ron McLaren to head South Africa’s ombudsman service

Justice Ron McLaren to head South Africa’s ombudsman service

Justice Ron McLaren to head South Africa’s ombudsman service

The South African authorities are merging the insurance industry’s ombudsman service by appointing retired Judge, Justice Ron McLaren, to head both the non-life and life services from 1 January 2020. From the start of next year, the short-term (non-life) and long-term (life) insurance industries will have a single ombudsman when Justice McLaren, current Ombudsman for long-term insurance, also takes over…

South Africa dealt another ratings blow

South Africa dealt another ratings blow

South Africa dealt another ratings blow

S&P has revised its outlook on South Africa to negative but stopped short of lowering its rating – just two weeks after Moody’s also lowered its ratings outlook to negative. Moody’s Investors Service changed the outlook on its rating to negative two weeks ago, after finance minister Tito Mboweni described a rapidly deteriorating fiscal outlook due to billions of dollars…

1 2 3 36