Latest news with #Myriad
The Citizen
23-06-2025
- Business
- The Citizen
Momentum Life pays out R6.6 billion in claims in 2024
The latest claims statistics from Momentum Life Insurance shows that an insured event can happen at any time in your life. Momentum Life Insurance paid out R6.6 billion in 2024, with suicides again being one of the main reasons for unnatural death. Since launching its Myriad product in 2002, Momentum Life Insurance has paid out R77.9 billion in claims. Joretha Bothma, head of product development, underwriting and claims at Momentum Life Insurance, says the 2024 claims report reveals a 99.8% payout rate on valid life cover claims. Death claims at Momentum Life Insurance were consistently driven by health trends, she says. Cancer and cardiovascular disease remained the leading causes of death claims in 2024, accounting for nearly 60% of all life cover payouts. 'These trends reflect broader health patterns in South Africa and reinforce the importance of maintaining comprehensive cover well into later life.' For critical illness claims, cancer was the leading cause of claims at 45%, with cardiovascular, nervous system and musculoskeletal conditions rounding out the top four claims' causes. Bothma says, interestingly, women tend to claim at younger ages than males. 'They tend to claim critical illness benefits during their prime working years, often when they are juggling significant family responsibilities and careers.' 'This highlights the importance of financial protection during this life stage, as a critical illness can have a substantial impact on family finances. The financial support from a critical illness payout can help alleviate some of the burden, allowing families to focus on recovery rather than worrying about financial stability.' ALSO READ: Sanlam pays out R6.62 billion in death and disease claims Youngest and oldest claimants at Momentum Life According to the claims statistics, the youngest claimant was just 18, a sobering reminder that serious illness can strike at any age. Many claims were also paid to older clients, reinforcing the value of keeping critical illness cover intact later in life. The death claim paid out to the oldest member was for a man who died at 92 from a stroke. 'The importance of early uptake and long-term retention of critical illness cover cannot be overstated, especially as conditions such as cancer and cardiovascular disease continue to dominate claim causes,' Bothma says. The top four causes for payouts between lump sum disability and income protection are consistent across benefit types, with musculoskeletal conditions topping the list, followed by nervous system, cancer and psychiatric or mental-related conditions. Nafeesa Gaida, head of claims at Momentum Life Insurance, says the youngest claimant for both lump sum disability and income protection was just 18, a survivor of a motor vehicle accident that left him paralysed. 'This case underscores how life-altering events can happen without warning, even at a young age, highlighting the importance of securing cover early.' The oldest claimant was an 84-year-old client who receives monthly payments for prostate-related disability on his income impairment benefit. Gaida says this again highlights the long-term nature of financial protection and the importance of sustaining it throughout life. ALSO READ: Why trust is so important when it comes to life insurance Claims for terminal illness and unnatural death The youngest person to receive a payout for terminal illness was a woman of 33 who suffered from squamous cell carcinoma, and the payment for the oldest claimant was for a man of 79 who had liver cancer. For child critical illness, 33% of the claims paid out were for endocrine or metabolic system illness, while 15% were for cancer and 13% for congenital conditions. 'Disability and income protection benefits extend far beyond essential monetary payouts. They provide a vital financial breathing space, allowing clients to focus entirely on their recovery.' Claims for unnatural death were topped by accidents (39%), suicide (28%), surgery (16%) and murder (15%). A total of 81% of the claims for unnatural death were for men and only 19% for women. The largest death claims since 2010 were for a man of 49 who died due to surgery in 2010 with a claim paid out for R101 million, a man of 36 who died in an accident in 2013 with a payout of R36 million and a man of 72 who died from a gunshot in 2023, with a payout of R117.2 million.
Yahoo
09-06-2025
- Yahoo
Demolition of old Myriad Convention Center underway Monday
OKLAHOMA CITY (KFOR) – Demolition for the north wall of the old Myriad Convention Center and Pedestrian Skybridge begins Monday, June 9. After more than five decades of being a centerpiece for events in Oklahoma City, the time for the old Cox Convention Center is up. LOCAL NEWS: Snake season: What to do if a venomous snake bites you? 'It's meant a lot, but it's lived its life,' Maps Program Manager for the city of Oklahoma City David Todd said. 'And it's in a prime spot where we're going to put a new arena.' Demolition for the 145-foot long pedestrian skybridge and the buildings north wall started Monday and will last through the week. The total project is expected to be finished by September. 'People forget there's a garage under there,' Todd said. 'There's going to be a 14 foot hole right there in that area that'll have to eventually be filled. So, the demolition is complicated in some aspects.' Street closures and disruptions to the OKC Street Car will last through the end of the week. Sheridan Avenue from Robinson Avenue to the Century Center Parking Garage will be down to one westbound lane. Meanwhile, Sheridan Avenue will be completely closed east of the garage all the way to E.K. Gaylord Boulevard. 'There's access that will be provided to Mahogany and some of the other businesses in the garage there. You just have to follow the signs,' Todd said. To make way for progress, the OKC Streetcar will have to be shut down temporarily. Until it's back up and running, shuttle buses will help people get around downtown. Per the City of Oklahoma City, 'EMBARK will operate a dedicated bus shuttle to shuttle riders along a modified Downtown Loop from 6 a.m. – midnight. Buses will run every 25 minutes. Streetcar fare is required via ticket vending machines or the Token Transit mobile app. Riders can board the shuttle at any streetcar platform along the route, with the exception of the Century Center stop on Sheridan. Bus head signs will read 'OKC Streetcar Service Downtown Loop.' Real-time tracking will not be available, so please allow extra travel time. If you need assistance navigating the streetcar shuttle, you can call EMBARK Customer Service at 405-235-RIDE (7433). The call center is open Monday-Friday from 7:30 a.m. – 6:30 p.m.' LOCAL NEWS: PHOTOS: Community showing support for Oklahoma City Thunder Plenty to keep in mind as crews work for the foreseeable future and mark the end of an era in Oklahoma City. The demolition is considered 'mechanical', meaning no explosives are going to be used. The wrecking company over the project told the city that they plan to recycle all steel and concrete from the demolition site. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
09-06-2025
- Business
- Yahoo
First day of Cox Convention Center demolition marks major change to downtown OKC
Downtown dwellers and visitors will have to sharpen their navigation skills as the building formerly known as the Myriad and the Cox Convention Center goes through major demolition this week. The north wall and the pedestrian skybridge are currently scheduled for removal during the week of June 9-13, leading to lane closures on Sheridan Avenue. The demolition process is expected to last through the rest of the year. There haven't been any delays because the work has been all interior so far, said Kristen Torkelson, arena communications liaison. The work is being done as the city prepares to present renderings for the new NBA arena that will be built in the footprint of the old convention center. The renderings are expected to be shown during Mayor David Holt's State of the City address on June 16, Torkelson said. More: Exclusive: OKCThunder Films pays homage to OKC icon in new film premiering at deadCenter Sheridan Avenue, from Robinson Avenue to E.K. Gaylord Boulevard, is closed. The Century Center parking garage can be accessed by the southbound lane on N. Broadway Avenue, and one westbound lane on Sheridan Avenue is open. People staying at the Wyndham Grand Hotel can access it by making a U-turn at the end of N. Broadway Avenue. The OKC Streetcar is temporarily shut down, but Embark will operate a dedicated shuttle bus along a modified downtown loop. Riders should allow for extra travel time as real-time tracking won't be available. The city said in a news release most of the sidewalk around the center remains open, with some portions closed, but accessible ramps are open at all four corners. More: Cox Convention Center demolition to start by April; memories to be preserved As the process keeps going, Midwest Wrecking, the demolition company contracted by the city, is working to remove debris from inside the building and tearing down steel from the walls to recycle it, Torkelson said. After the north wall and the sky bridge is down, work will start on dismantling the east and west walls and then work toward the center of the building. This article originally appeared on Oklahoman: OKC Cox Convention Center demolition begins with sky bridge
GMA Network
04-06-2025
- Entertainment
- GMA Network
Alden Richards makes directorial debut in 'Out of Order'
Alden Richards is set to make his directorial debut in the upcoming film "Out of Order." Aside from being the director, Alden also stars in the film alongside Nonie Buencamino and Heaven Peralejo. The film, a collaboration between Viva Films and Alden's company Myriad, will premiere in the competition section of the third Da Nang Asian Film Festival in Vietnam from June 29 to July 5. In May, Alden flew to South Korea and met Tom Cruise during the "Mission Impossible: The Final Reckoning premiere." Alden is set to host the upcoming Kapuso dance competition "Stars on the Floor," which will premiere on GMA Network in June. After starring in the Kapuso series "Pulang Araw" and the blockbuster movie "Hello, Love, Again" last year, Alden returned to "All-Out Sundays" in February. —Hermes Joy Tunac/MGP, GMA Integrated News
The Australian
30-05-2025
- Business
- The Australian
Long Shortz: Aroa Biosurgery
Tylah Tully chats with Aroa Biosurgery (ASX:ARX) founder and CEO Brian Ward on the company's FY25 results, posting its first profit since listing on the ASX in 2020. The company had a strong year, reporting total revenue of NZ$84.7 million, 23% growth on FY24. In particular, Myriad™ notched just over NZ$32 million in product revenue, 38% growth on the previous financial year. Watch the video to hear Ward's insights. This video was developed in collaboration with Aroa Biosurgery, a Stockhead client at the time of publishing. The interviews and discussions in this video are opinions only and not financial or investment advice. Viewers should obtain independent advice based on their own circumstances before making any financial decisions.
