Weathering the storm - The impact of catastrophe losses on the South African insurance landscape
Catastrophe events caused an estimated US$135bn in insured losses in 2017 as hurricanes, severe weather and wildfires destroyed property and possessions worldwide. South Africa was no exception as fires in the Western Cape, floods in Gauteng and KwaZulu-Natal, and a massive hailstorm in Gauteng tested local insurers to their limits. Local insurers lived up to their promise by paying out billions of rand to both individual and business policyholders to compensate them for the