Government offers nearly $1.4 billion to Sasria to maintain solvency
South Africa’s government has allocated 22 billion South African rand ($1.4 billion) to state-owned insurer South African Special Risk Insurance Association SOC Ltd. to help the insurer maintain its solvency following huge losses from the July 2021 riots in the country, Middle East Insurance Review reported citing SANews. Sasria, which covers political and terrorism risks, will also revise premiums, explore opportunities to grow its customer base, and evaluate reinsurance agreements to better tackle risks.
