×

We've got news for you.

Register on Sunday Times at no cost to receive newsletters, read exclusive articles & more.
Register now

SA insurers build war chests to manage fifth Covid-19 wave

News

SA insurers build war chests to manage fifth Covid-19 wave

Covid-19 deaths contributed to excess claims of R4.2 billion for Sanlam in 2021

Adelaide Changole

South African life insurers are shoring up their capital reserves as they brace for a fifth wave of coronavirus infections. 

Africa’s biggest insurer, Sanlam, said on Thursday it will hold three times its typical discretionary capital, increasing reserves to R3bn, to give it headroom to grapple with uncertainties caused by the pandemic. 

“The group will hold a significantly higher level of discretionary capital until such time we are satisfied that there is no risk to group earnings and dividends from the pandemic,” said CEO Paul Hanratty. ..

This article is reserved for Sunday Times Daily subscribers.
A subscription gives you full digital access to all Sunday Times Daily content.

Sunday Times Daily

Already subscribed? Simply sign in below.

Questions or problems?
Email helpdesk@timeslive.co.za or call 0860 52 52 00.

Previous Article