Sanlam paid out R10.7 billion in total in total insurance claims in 2023. (Supplied/Sanlam)
Sanlam, Africa’s largest non-bank financial services group, said on Monday it paid out R10.7 billion in total in total insurance claims in 2023, when death claims again eased.
The Bellville-headquartered insurance giant said on Monday that the figure comprised R6.06 billion in payouts made through its Sanlam Risk and Savings. This is down from R6.38 billion in claims in 2022, itself down 23% from 2021’s R8.3 billion as the effects of the Covid-19 pandemic receded.
In 2023, the remaining R4.6 billion in payouts stemmed from Sanlam Group Risk, insurance cover designed to enable employers to help employees protect their families in the event of death or long-term illness during the course of fulfilling their duties.
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