#UnrestSA: Sasria banks on Treasury, reinsurance as riot claims surpass R10 billion

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
loading...
Loading, please wait...
0:00
play article
Subscribers can listen to this article
Treasury director-general Dondo Mogajane says National Treasury will inject R3.5 billion to assist Sasria with riot-related claims.
Treasury director-general Dondo Mogajane says National Treasury will inject R3.5 billion to assist Sasria with riot-related claims.
Gallo Images

The South African Special Risk Insurance Association (Sasria) will augment its funds with an injection from the National Treasury and a reinsurance claim, as riot-related claims surpass the R10 billion it has available in its coffers. 

The association has begun paying out claims related to the violent riots and looting that swept through KwaZulu-Natal and Gauteng in July, resulting in 337 deaths, destruction of businesses and infrastructure and disruption to national supply chains.

The exact impact of the unrest is still being calculated, but the current estimate is that it cost the economy R50 billion, with R15 billion of that coming from eThekwini alone. KwaZulu-Natal accounted for 70% of the losses and the balance of the losses came from Gauteng.

Read this for free
Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
16.23
-0.1%
Rand - Pound
19.80
+0.0%
Rand - Euro
16.74
-0.3%
Rand - Aus dollar
11.53
-0.5%
Rand - Yen
0.12
+0.0%
Gold
1,789.23
-0.2%
Silver
20.31
-1.4%
Palladium
2,293.00
+1.7%
Platinum
960.00
+1.4%
Brent Crude
97.40
+1.1%
Top 40
64,617
+2.3%
All Share
71,265
+2.2%
Resource 10
65,851
+2.1%
Industrial 25
87,063
+2.9%
Financial 15
15,964
+1.3%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders