Heavy bill for South African insurers

The violent storms that hit the major cities of South Africa in early October 2017 are expected to generate insured losses between 1 and 1.5 billion ZAR (72.9 million and 109.3 million USD).

The non life insurer Santam has stated having received more than 5 000 compensation claims in the province of Gauteng alone. Old Mutual has also confirmed having received a large number of claims, without giving further details.

More news on

• Insurance industry in South Africa