South African riots: new loss estimate

The South African Special Risks Insurance Association (SASRIA) has revised upwards the cost of the damages caused by the riots of July 2021. The latter are believed to generate between 19 and 20 billion ZAR (1.28 and 1.35 billion USD) of insured losses.

In July 2021, SARSIA estimated the insured losses to range between 7 and 10 billion ZAR (474.37 and 677.67 million USD).

The state-owned insurer also predicts an increase in reinsurance costs.