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Insurers are in for more storms, way beyond Covid-19

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"As an industry we are in for a tough time," straight-shooting Momentum Metropolitan CEO Hillie Meyer said recently when Fin24 asked for his assessment on how long it will take for the insurance industry to recover from the Covid-19 bruises.

His peers, who lead other big insurers, have also tapered the market's expectations, with Old Mutual's Iain William warning investors to not use the second half of 2019 as a benchmark for how insurers might perform for the rest of the year, even if lockdown restrictions are lifted.

Although South Africa only went on lockdown towards the end of March, the first half of 2020 was brutal for most insurers. 

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