- Global property insurers are facing market reassessment due to increasing extreme weather losses, leading to premium hikes and withdrawals driven by climate risk.
- Catastrophe losses are rising sharply and pricing is softening, leading to a market decline in the business insurance sector.
Insurance companies like Sanlam and Santam are facing elevated catastrophe losses due to regional events including floods in Morocco, wildfires in the Western Cape, and a cyclone in Madagascar.
1 report, 1 independent
Updated Sep 10
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What happened
Insurance companies like Sanlam and Santam are facing elevated catastrophe losses due to regional events including floods in Morocco, wildfires in the Western Cape, and a cyclone in Madagascar.
Who's involved
What this event is mainly aboutKeep exploring
The entities involved
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Morocco
sovereign state in North Africa
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Western Cape
province of South Africa
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Madagascar
island sovereign state off the coast of Southeast Africa, in the Indian Ocean
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Africa
continent