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.
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.
The auditing firm says, according to its records, no bursars have been left out of pocket.
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Life insurance companies have defied the odds, bouncing back with impressive results in 2022, KPMG’s South African Insurance Industry Survey 2023 finds.
South Africa’s short-term insurance industry reported gross written premiums (GWP) of R131.6 billion last year, an increase of 7% from 2020, according to KPMG’s latest survey of the insurance sector. “This is a […]
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]