South Africa declared a national disaster after floods and storms caused widespread damage in the country, allowing the government to free up funds for relief and reconstruction. Disruptive rains, floods, strong winds and hail from Oct. 22 to Oct. 29 …
South Africa’s National Treasury is exploring regulations to encourage the use of financial instruments to tackle climate change, including catastrophe bonds and parametric insurance. “We are looking at how best we can get investors into the room, how do we …
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 …
