The CEO of one of the country’s largest insurance investment holding companies, which has stakes in household names Discovery and Outsurance, says mortality claims relating to the pandemic are still trending below actuarial projections but the economic fallout associated with lockdowns are being keenly felt.

The pandemic has had a mixed effect on insurance companies with higher life insurance and retrenchment claims negatively affecting profitability while lower motor vehicle usage and overall medical claims has relieved balance sheets. ..

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