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 …
This edition of International People Moves details appointments at QBE Re in the U.S., specialist broker MNK Re Group and MGA CFC Underwriting. A summary of these new hires follows here. QBE Re Names Barber Head of U.S. Treaty, Succeeding …
South Africa declared floods that killed more than 300 people in the eastern KwaZulu-Natal province a disaster, enabling the government to free up funds to assist with reconstruction in the area. The heaviest rainfall in at least six decades last …
JOHANNESBURG – African insurer Sanlam Ltd. said on Wednesday it was exploring “strategic alternatives” with Germany’s Allianz SE for their respective African businesses, excluding Sanlam’s home market of South Africa. Sanlam, South Africa’s No. 1 insurer, did not elaborate on …
Reinsurance broker Guy Carpenter and insurance broker Marsh, both businesses of Marsh McLennan, said they are combining their South Africa facultative reinsurance operations into a single business, effective Jan. 1, 2022. The new unit will operate under the Guy Carpenter …
South Africa’s energy regulator and energy minister have been sued by environmental activists over national plans to allow the construction of new coal-fired power plants. Plans for the construction of 1,500 megawatts of coal-fired generation capacity are included in the …
JOHANNESBURG – South Africa’s Supreme Court of Appeal has ruled Santam is liable to cover the impact of COVID-19 restrictions on hotel group Ma-Afrika for 18 months, rejecting the insurer’s request for a shorter time frame on the claim, Santam …
JOHANNESBURG – South Africa’s only insurer covering political violence will increase its premiums to cover a rise in reinsurance costs following some of the worst unrest in decades, the head of the state-owned company told Reuters. More than 300 people …
Naspers Ltd. is backing online insurance company Naked as part of a commitment to invest almost $100 million in tech startups in its home market of South Africa. The 120 million-rand ($8.4 million) stake makes Naspers the largest investor in …
