Sasria eyes R3Obn reserve target by 2029

South Africa’s state-owned special risk insurer Sasria strengthened its capital base to R18.6 billion in the financial year ended 31 March, as it continues rebuilding reserves following the devastating 2021 riots.

- Liesl Peyper

In the period under review, the insurer reported a 34% increase in profit to R4.5 billion, while total assets rose 27.1% to R20.9 billion. Reinsurance costs also declined significantly, the insurer said.

Sasria, which provides cover against losses arising from riots, strikes, terrorism and public disorder, said the performance keeps it on track to reach its long-term reserve target of R30 billion by 2029.

R20bn buffer