JAMIE CARR: Claims tsunami on the horizon for Sasria
Sasria, a state-owned enterprise in excellent shape, has an enormous bill coming its way
Of all the jaws that dropped as rioting and pillaging swept the nation, none will have hit the floor harder than those belonging to the good people of Sasria. The state-owned entity was set up in the aftermath of the 1976 Soweto uprising with a mandate to provide cover for specific risks such as politically motivated malicious acts, riots, strikes, terrorism and public disorder. It has announced that it is standing squarely behind its obligations to those who have suffered damages in the period of anarchy.
It will take a while to assess the exact size of the bill that is coming Sasria’s way, but estimates flying around of R20bn or more suggest that Sasria’s assets under management of R8.5bn are likely to be swamped...