Santam weather-related claims now twice as high
Weather-related catastrophe claims of R748m were reported in 2024
03 March 2025 - 08:24
UPDATED 03 March 2025 - 22:47
Santam has reported a two-fold jump in claims for natural catastrophes over the past two decades, underscoring the escalating effect of climate-change induced disasters such as floods on the insurance industry.
In its full-year earnings report for the year to end-December, SA’s largest short-term insurer showed that the average annual claims for natural disasters rose from less than R1bn in the 2005-15 period to about R2bn in the past 10 years. It highlights the heightened frequency and severity of extreme weather events...
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