Liberty expects R1.2bn in death claims from third and fourth waves
Liberty is still grappling with the effect of the pandemic
Liberty Holdings, the insurer and asset manager that plans to delist and merge with its parent Standard Bank, is budgeting for at least R1.2bn in Covid-19-related life insurance claims over the next six to nine months.
SA is still grappling with a third wave of infections from Covid-19 that has so far claimed almost 73,000 lives and cost insurers billions of rand in mortality and business interruption claims. While Liberty is bracing for a fourth wave of infections, it expects the impact to be lower than the devastating third wave as SA’s vaccination programme continues to gain momentum...