South African Insurance Industry Survey 2021
The knock-on effect and the interconnectedness of risks emanating from COVID-19 were astonishing. We would expect much introspection and re-evaluation by insurers of their risk appetites and capacity. The next few months hold challenging moral decisions for insurers as they debate employee vaccine mandates, vaccine premium adjustments for policyholders and other repricing policies. The contribution of the insurance industry to the stability and financial soundness of the South African economy demonstrates the capital strength, resilience and ability of the industry to adapt, innovate and show up when it matters.
This year’s survey reflects the financial results of 40 non-life insurers, 21 life insurers and seven reinsurers. We will share our thoughts on how the industry continues to apply innovative and best of class practices to adapt to continuously evolving local and global forces, as well as to meet customer, investor and regulatory needs. You can look forward to reading what our industry experts have to say on topics like IFRS 17, ESG, technology, ethics and tax; and we have industry insights from some of our insurance practices in the rest of Africa.