FILE. AFP/Oscar Rosario
JOHANNESBURG - South Africa’s largest insurance group, Sanlam paid out R22 billion in death claims to clients in 2021.
That is up 76 percent year-on-year.
The increase in claims indicates the devastating effect of the pandemic on the insurer.
READ: Sanlam says no higher premiums for unvaccinated people
In another blow for the company, the group paid R3.2 billion in business interruption claims to businesses affected by the pandemic.
However, it has not been all doom and gloom for Sanlam, as its operations have rebound to pre-pandemic levels.
This thanks to higher investment income and new business volumes.
Source
eNCA
