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This year’s survey reflects the financial results of 39 non-life insurers, 19 life insurers, and 4 reinsurers in the context of the ongoing impacts that the COVID-19 pandemic had on (re)insurers, as well as the impacts of the Kwa-Zulu Natal riots and natural catastrophe events. The July 2021 civil unrest highlighted an emerging risk in the manner in which the public responds and reacts to political or social tensions.
As the uncertainty over climate-related risks escalates we can expect more intense scrutiny by regulators. The ability of the insurance industry to provide unwavering support when it matters most is commendable, ensuring a better outcome for the greater good.
