SaXum to be wound up

Weekend Argus (Saturday Edition) - - FRONT PAGE -

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.

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