Survey highlights recovery in SA insurance industry
Non-life insurers bounced back from a loss of R16.7bn in 2022 to a profit of R13.7bn in 2023, while life insurers posted significant profit growth, says KPMG.
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Santam reports 34% net income growth despite rising weather-related claims
The group attributed the turnaround in motor insurance to managing claims inflation and improving risk selection, resulting in a significant reduction in claims frequency.
