
SASRIA grows profits and capital base as it targets R30bn reserves by 2029
The insurer says reinsurance protection has increased significantly, and it has secured full reinsurance for 2026/27 for the first time in three years.

The insurer says reinsurance protection has increased significantly, and it has secured full reinsurance for 2026/27 for the first time in three years.

Disciplined underwriting, improved claims experience, and robust investment income helped non-life insurers to navigate structural headwinds.

KPMG’s survey shows broad improvement across major life insurers, driven by moderate premium growth, stronger investment returns, and efficiency gains.

Non-life insurers bounced back from a loss of R16.7bn in 2022 to a profit of R13.7bn in 2023, while life insurers posted significant profit growth, says KPMG.