South Africa:Non-life insurance market plunges into red ink in 2022

By MEIR team | 16 Oct 2023

South Africa Nat CAT Property & Casualty Financial Performance

The loss after tax of the non-life insurance sector in South Africa stood at ZAR16.4bn ($863m) in 2022, a complete upset of the applecart when compared to the profit after tax (PAT) of ZAR13.1bn recorded in 2021, says the global professional services company KPMG.

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