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South Africa s Riots Insurer in Spotlight After Days of Carnage

Roxanne Henderson and Khuleko Siwele, Bloomberg News Debris inside a supermarket following rioting in the Soweto district of Johannesburg, South Africa, on July 15. , Bloomberg (Bloomberg) As calm begins to return to South Africa following days of violent riots that caused billions of rand in damage, questions are being asked about who will foot the bill. While some claims will be assessed by heavyweight insurers such as Old Mutual Group Ltd. and Santam Ltd., the bulk of the burden will fall to one company little known outside the country: Sasria Insurance Ltd. Sasria, a state-owned firm with 8.5 billion rand ($591 million) in assets under management, was founded shortly after the Soweto uprising of 1976, when at least 176 people died in demonstrations led by school children against the apartheid government. The frequency and scale of political protests that followed prompted private insurers to stop offering cover to vulner

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Pandemic Isn t Half Over for S Africa Insurer Seeing

Word Count: 441 “We are basically planning for two-and-a-half more waves,” Sanlam Ltd. Chief Executive Officer Paul Hanratty said by phone. The insurer is also “very realistic” that South Africa’s vaccine program “is not going to impact the current year very significantly,” he said. Africa’s most-industrialized nation has been the hardest hit by the pandemic on the continent, with an official death toll of over 51,000 and more than 1.5 million infections. It started inoculating health workers in February, but the government’s program may only reach the two-thirds of the population necessary to achieve herd immunity in 12 to 18 months. With the widest reach across Africa of any insurer, Sanlam is preparing for a doubling in excess claims from surges in Covid-19 infections and the longer-term health effects of the pandemic in coming months.

South africaRoxanne hendersonPaul hanrattyDiscovery ltdCapitec bank ltdSanlam ltdSantam ltdChief executive officer paul hanrattyCapitec bankAfrican rainbow lifeரோக்ஷ்ண்னே ஹென்டர்சன்பால் ஹன்ரட்டிகண்டுபிடிப்பு லிமிடெட்சாந்தம் லிமிடெட்தலைமை நிர்வாகி அதிகாரி பால் ஹன்ரட்டி

Insurers planning for two and a half more Covid-19 waves in South Africa

Insurers planning for ‘two and a half more Covid-19 waves’ in South Africa Bloomberg11 March 2021 Subscribe South Africa may still be short of the halfway mark of the Covid-19 pandemic, even after two distinct waves of the coronavirus swept through the country over the past year. “We are basically planning for two-and-a-half more waves,” Sanlam chief executive officer Paul Hanratty said by phone. The insurer is also ‘very realistic’ that South Africa’s vaccine program is not going to impact the current year very significantly, he said. Africa’s most-industrialized nation has been the hardest hit by the pandemic on the continent, with an official death toll of over 51,000 and more than 1.5 million infections

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South Africa coronavirus Archives - Insurance Journal

South Africa coronavirus Archives - Insurance Journal
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Insurer Sanlam Braces for More Virus Waves in South Africa

South Africa may still be short of the halfway mark of the pandemic even after two distinct waves of the coronavirus swept through the country over the

South africaPaul hanrattyDiscovery ltdCapitec bank ltdSanlam ltdSantam ltdChief executive officer paul hanrattyCapitec bankAfrican rainbow lifeபால் ஹன்ரட்டிகண்டுபிடிப்பு லிமிடெட்சாந்தம் லிமிடெட்தலைமை நிர்வாகி அதிகாரி பால் ஹன்ரட்டி