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Santam hit by way of list claims, however the insurer is ‘now not panicked’ whilst its margins shrink

Santam hit by way of list claims, however the insurer is ‘now not panicked’ whilst its margins shrink

Santam hit by way of list claims, however the insurer is ‘now not panicked’ whilst its margins shrink

Santam paid out R29.8 billion in gross claims in 2022. This surpassed the R24.5 billion it coughed up in 2021 when it needed to pay the majority of lockdown claims.

Santam, the rustic’s biggest momentary insurer, paid list gross claims of R29.8 billion in 2022, surpassing even the R24.5 billion the corporate paid in 2021 – when it needed to fund never-seen-before lockdown claims.

“The 2022 monetary yr was once probably the most difficult underwriting classes in Santam’s historical past,” mentioned CEO Tavaziva Madzinga.

Adversarial climate prerequisites within the first 3 months of the yr 2022, plus the devastating KwaZulu-Natal floods in April, had been vital members to the brand new claims list.

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Supply Via https://www.news24.com/fin24/firms/santam-hit-by-record-claims-but-the-insurer-is-not-panicked-even-as-its-margins-shrink-20230302