Geopolitical conflict | South African insurers urged to reassess exposure
An interconnected conflict environment is driving risks, with local insurers advised to review policy wording, reinsurance arrangements, and portfolio concentrations.
reinsurance
Why Sanlam’s headline earnings fell despite strong business growth
Currency movements, bond market distortions, reinsurance losses, and strategic investment spending combined to weigh on Sanlam’s reported results.
Santam authorised to establish IFSC reinsurance office in India
The licence allows the insurer to operate as an International Insurance Office within India’s financial hub.
Life insurance sector consolidates its recovery in 2024
KPMG’s survey shows broad improvement across major life insurers, driven by moderate premium growth, stronger investment returns, and efficiency gains.
Rising risks and rewards: the shift to asset-intensive reinsurance in the insurance sector
As insurers increasingly turn to alternative assets and cross-border reinsurance, industry experts highlight the growing complexities and risks.
Survey highlights recovery in SA insurance industry
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.
Sasria aims to reintroduce R1bn cover amid rising reinsurance costs
Sasria’s five-year strategic plan includes the reintroduction of R1bn excess of loss cover and expanding its coverage for events such as natural disasters.
CrowdStrike sensor glitch: implications for cybersecurity and insurance
The CrowdStrike Falcon sensor update-induced global system crash could be the most significant cyber accumulation loss event since NotPetya in 2017.
Loadshedding: ‘It is going to be a tight winter’
Old Mutual Insure unpacks the impact of loadshedding on the insurance industry and the outlook for a stable electricity supply.
Weather-related catastrophes ‘signal a looming crisis’ for insurance market
Price increases will be necessary to fund the level of coverage policyholders have previously enjoyed, says Old Mutual Insure.
What SA’s prolonged hard insurance market means for insurers, brokers, and clients
Advisers can offer clients invaluable insights and the tools they need to thrive, even in times of turbulence.
Sasria wants an explicit guarantee that the state will be its reinsurer of last resort
The reinsurance market will remain hard for the foreseeable future, and most reinsurers believe another July 2021 is just around the corner, says chief executive.
Sasria’s chief executive addresses grid-collapse exclusion
It will decide by the end of the month whether to reintroduce the exclusion.
What insurers’ grid failure exclusions mean for clients
Advice from a qualified intermediary on how to interpret an insurer’s policy wording is essential.
Why insurance premium increases are unavoidable
Santam’s executive head of commercial and personal intermediated business, Andrew Coutts, has issued a communication to intermediaries setting out the factors that have made premium increases unavoidable. Coutts said households and businesses have […]
Treasury, Sasria working on reintroducing R1bn in additional cover
National Treasury and the South African Special Risk Insurance Association (Sasria) are working on ways for the state-owned insurer to reintroduce the R1 billion in additional cover for large corporates, Finance Minister Enoch […]
Santam repricing its book to take account of inflation and other cost pressures
A “concerted set of underwriting actions” were under way to reprice Santam’s book, to take account of the inflationary and other pressures that were pushing up the cost of claims, Sanlam’s chief executive, […]
