SaXum to be wound up

The Johannesburg High Court this week granted an application by the Registrar of Short-term Insurance on October 12 to place SaXum Insurance under final liquidation.

The registrar was satisfied that it was in the interests of SaXum’s policyholders that the company be placed under liquidation due to its insolvent position.

The court has ordered that SaXum be placed under final winding-up under the Master of the High Court, Johannesburg. A liquidator will be appointed to manage the its affairs.

If you are a SaXum policyholder, any queries can be directed to Farzana Badat, the head of the Financial Services Board’s insurance compliance department, on 012 428 8121.