Media Centre

Media Centre

Investor News

02 March 2017

Santam remains steady amid tough economic climate and high claims

Insurer pays out more than R500 million in claims for catastrophic events, R16.1 billion in claims overall

Corporate News

22 March 2017

Santam enhances structured solutions offering with RMB-SI acquisition

Santam announced in August 2016 that it had acquired 100% of RMB-SI Investments, the deal received regulatory approval in February and became unconditional last week.

Personal Lines

21 October 2016

Counting the real costs of hail: denting not just your car but the economy too

A big hail storm has wreaked havoc in parts of Bloemfontein recently with claims for damage to homes and vehicles streaming in at South Africa’s largest general insurer, Santam today. In a short period of time a hailstorm on the M1 North of the William Nicol highway in Johannesburg can cause extensive damage to a vehicle. For the insurance industry, a hailstorm lasting 20 minutes in two to three Pretoria suburbs could cost up to R100 million in claims for damage to vehicles and homes.

Commercial Lines

20 January 2017

Insuring the wine industry

The recent spate of fires in the winelands of the Western Cape has again brought the issue of the wine producer’s risk to the fore, with a number of wine farms being adversely affected. Shehnaz Somers, head of commercial underwriting at Santam said the company is still assessing the damage and loss as a result of fires spreading to well-known vineyards and guest farms in the winelands and surrounding areas over the past month.

Agriculture

20 October 2016

Climate and weather update

Forecasts for neutral to La Niña conditions still remain valid with borderline La Niña conditions currently present. The expected rainfall in the first part of October over the eastern summer crop production areas did not occur but conditions are still favourable for rain in the second part of October. Cumulative rainfall forecasts until the end of December 2016 from the accuweather.com website indicate that between 300-400mm of rain is possible over the eastern areas.

Specialist Business

22 March 2017

Liability insurance: who pays when an event is cancelled?

Costs for cycle tour cancellation can cause more than a spoke in the wheel

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