The Association for Savings and Investment says SA’ insurers have free capital of R373bn — twice the amount needed
SA's life insurance industry has more than double the legally required reserve buffers in place and is well positioned to deal with the Covid-19 fallout over the coming months, according to the Association for Savings and Investment SA .
Asisa life and risk board committee deputy chair Hennie de Villiers said SA life insurers had measures in place to ensure exposure to listed equities, and while those would have declined due to concerns regarding the coronavirus, liabilities would have declined as well. The ability of the life industry to pay claims and benefits will be of critical importance to the SA economy in months ahead as the Covid-19 pandemic reduces the income stream of citizens, he said.looking at ways to assist policyholders who may be struggling financially as a result of Covid-19 measures, but that it would be done on a case-by-case basis.
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