Sasria hikes premiums 25% to build reserves
This would obviate the need for a recapitalisation by the state, CEO Mpumelelo Tyikwe tells MPs
18 June 2025 - 19:03
The SA Special Risks Insurance Association (Sasria), the state-owned special risks insurer, plans to build its reserves wiped out by the 2021 riots to R30bn by 2029 and has given notice to its clients of a 25% weighted average increase in its premiums.
Sasria insures against acts of terrorism, labour and civil unrest and riots, events that private sector insurers are unwilling to cover. High levels of poverty and unemployment contribute to the risks it has to deal with. ..
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