A spike in the severity and number of claims due to protest action has hit the state-owned SA Special Risk Insurance Association’s (Sasria’s) bottom line, leaving it unable to pay dividends to the government for the first time since 2009, MD Cedric Masondo says.

The short-term insurance company — which provides special risk cover for public disorder, strikes, riots and terrorism — recorded its first pretax loss, of R73m, for the year to end-March, down from the previous year’s R1.3bn profit. ..

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