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. ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now