South African riots weigh heavily on insurers

The South African Special Risks Insurance Association (SASRIA) estimates that the riots triggered since 11 July 2021 could generate insured losses ranging between 7 and 10 billion ZAR (481 and 683 million USD).

The claims mainly deal with the looting, vandalism and thefts sustained by companies after former president, Jacob Zuma has been arrested.

Founded in 1974, SASRIA is a state-owned insurer specialized in the coverage of strikes, riots, political movements and terrorism.