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Sanlam will not charge higher life insurance premiums for clients who are not vaccinated against Covid-19 because its analysis shows that age and the existence of comorbidities are the bigger risk factors.

The decision was revealed by Sanlam CEO Paul Hanratty on a Wednesday call after the market close, in which he also discussed the operational performance of Africa’s biggest insurance group for the 10 months to October 31. While Sanlam’s operational update showed headline earnings per share rose 8% in the first 10 months of 2021, the group also said it is repricing its life policies to offset the impact of excess mortality claims linked to Covid-19, a virus it said will become “endemic to the world”...

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