The 2023 financial results of reinsurers participating in this year’s survey reflect a welcome reprieve from the challenges faced over the last few years. From COVID-19 in 2020, the Kwa-Zulu Natal riots in 2021, the Kwa-Zulu Natal floods in 2022 and the ongoing local infrastructural challenges experienced, to name but a few. These were some of the toughest years seen by the South African insurance industry, which tested the resilience and core purpose of the industry beyond limits thought imaginable.
