Liberty hard hit by Covid claims payouts
The value of Covid-related claims totalled R3.47bn, though not all of this was due to deaths
Insurer Liberty Holdings says the total value of its claims payouts in 2021 rose almost 60% as the Covid-19 pandemic forced it to dish out roughly R46m every working day to clients, driven largely by mortality claims stemming from the virus.
Standard Bank-owned Liberty says the value of its claims in 2021 reached R10.12bn, up from R6.34bn in 2020, thanks largely to the cumulative effect of the two most damaging waves of Covid-19 infections: the Beta wave that started in late 2020 and the Delta wave that took hold in mid-2021. Covid-19 related claims totalled R3.47bn, though not all of this was linked to deaths...
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