South Africa-based general insurer Santam Ltd. plans to expand in Asia to diversify its premiums and counter tepid growth at home. The insurer, a subsidiary of financial services group Sanlam Ltd., generates 82% of its premiums in South Africa. “We …
South Africa dispatched crews to contain an oil spill from a cargo vessel that ran aground earlier this month because of extreme weather conditions. Strong waves eroded the hull of the 125-meter (410-foot) MV Ultra Galaxy, which beached at Brand …
Storms that pounded South Africa’s Western Cape province have led to flood damage affecting more than 35,000 households in the city of Cape Town, Executive Mayor Geordin Hill-Lewis said. “We’ve got more than 35,000 families in the city who have …
South Africa’s President Cyril Ramaphosa signed into law on Wednesday a bill that aims to provide universal health coverage, hailing it as a major step in the journey towards a more just society although critics say they will challenge it …
South Africa’s President Cyril Ramaphosa said on Thursday that he planned to sign into law a National Health Insurance (NHI) bill that aims to provide universal health coverage to South Africans, although he did not give a time frame. The …
Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, a top official at its biggest insurer by assets said. After staying almost flat in the decade to 2020, …
South Africa Special Risk Insurance Association told clients it won’t pay claims for damage related to a collapse of the national electricity grid, Business Day reported, citing a circular from the company. The announcement by the state-owned insurer comes less …
Africa’s biggest health insurer said the number of heart-related deaths rose more than sixfold during the COVID-19 pandemic among the clients of one of its units. Discovery Employee Benefits, a unit of Johannesburg-based Discovery Ltd. that has more than half …
One of South Africa’s richest suburbs may be the target of a terrorist attack this weekend, according to an alert posted on the website of the US Embassy. “The US government has received information that terrorists may be planning to …
South Africans could soon be paying as much as 5% more on their premiums as insurers face growing risks both globally and locally. The country is now considered “very risky” due to mounting flood and fire dangers, as well as …
