Old Mutual’s gross written premiums up 19% in the first quarter
Life insurance sales down slightly as the group stops selling certain products in China.
gross written premiums
Santam pays record R29.8bn in claims in 2022
Another year of high pay-outs following Covid in 2020 and the unrest in 2021.
A state-owned company made the biggest contribution to the ST insurance industry’s profits in 2021
South Africa’s short-term insurance industry reported gross written premiums (GWP) of R131.6 billion last year, an increase of 7% from 2020, according to KPMG’s latest survey of the insurance sector. “This is a […]
KZN floods are the biggest natural catastrophe in Santam’s history
Santam’s current “best estimate” of its gross exposure to the KwaZulu-Natal floods in April is R3.2 billion. However, reinsurance cover will limit the net impact to about R500 million, it said in a […]
Only 19% of South Africans are insured when funeral cover is excluded
Some 60% of South Africans report having an insurance product, and insurance penetration, measured using premiums as a percentage of GDP, was 13.7% in 2020 – one of the highest in the world, […]
R3.2bn of Santam’s record R24.5bn claims pay-out went to BI policyholders
Santam paid out R24.5 billion (2020: R21bn) in claims last year, the highest gross claims pay-out in its 104-year history, the country’s biggest short-term insurer said in its financial results for the year […]
KPMG survey reveals impact of recession and pandemic on short-term insurance industry
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
