The KwaZulu-Natal floods were the most significant natural catastrophe in Santam’s history, says CEO Tavaziva Madzinga. Moneyweb insurance KZNfloods
Announcing its interim results for the six months to end June 2022, short term insurer Santam describes the period under review as one of the most challenging for insurance underwriting. This says a lot following on the previous difficult year or two. This time round, widespread floods in KwaZulu-Natal caused a multi-billion-rand spike in insurance claims.
” Read:Santam ‘making headway’ in settling business interruption claimsSantam fails to get Guardrisk’s Café Chameleon appeal postponed “Considering the claims payment experience, Santam reviewed its provisions for CBI claims at the end of June 2022, the level of claims aggregating for reinsurance recovery purposes, as well as expected recoveries from applicable reinsurance contracts.
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Santam weathers the stormsThe KwaZulu-Natal floods were the most significant natural catastrophe in Santam’s history, says CEO Tavaziva Madzinga. Moneyweb insurance KZNfloods
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