Liberty braces for a second half weighed down by Covid claims
Insurance giant reports loss of R2.2bn at the halfway stage, with the ‘next six to nine weeks probably being critical’
Liberty Holdings, which on Wednesday reported an interim loss of R2.2bn, is bracing for pain from claims related to death in the second half as the economic fallout from the Covid-19 pandemic plays out.
“We see the next six to nine weeks probably being a critical period when we will sadly but inevitably see an escalation in claims related to Covid,” CEO David Munro told Business Day shortly after the company issued its earnings report for the six months to end-June. ..