CLAIMS RISING
Natural disasters becoming a thorn in insurer Santam’s side
30 August 2019 - 05:10
SA’s largest short-term insurer Santam says claims arising from natural disasters and climate change have become hard to predict, making its profits more volatile.
Santam said weather-related claims had pushed its payouts up 8%, squeezing its underwriting margin just as it had started to recover from large payouts related to the 2017 Knysna fires and other natural disasters...
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