Santam says KZN floods dented net underwriting margins
Fires, hail damage, and storm and flood damage caused the margin to be ‘slightly below the bottom end” of the target range of 4% to 8%’
29 May 2019 - 14:27
Insurer Santam says it missed a target for net underwriting margins in the first four months of 2019 because of several major catastrophes in SA.
These included fires in the Betty’s Bay area in January; hail damage in Newcastle in March; and storm and flood damage in KwaZulu-Natal in April, Santam said...
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