Covid-19 death claims nearly tripled, says Momentum Metropolitan
The insurer will again review its provisions in June, which would take into account the emerging signs of a third wave of infections
24 May 2021 - 16:04
UPDATED 24 May 2021 - 18:53
Life insurer Momentum Metropolitan paid out R3.9bn in death claims in the first quarter, nearly three times higher than it had initially expected, highlighting the severity of the second wave of Covid-19 infections.
Releasing its operational update on Monday, Momentum said its SA life insurance businesses were mostly affected by the spike in claims, though the recovery in global markets more than offset the fallout of Covid-19 at the group level...
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