Sasria pays out over R12 billion in claims following July unrest

In his Medium-Term Budget Policy Statement last Thursday, Finance Minister Enoch Godongwana announced the allocation of an additional R11 billion to Sasria.

Suspected looters carry goods from the Game Warehouse in Durban on 13 July 2021. Picture: AFP

JOHANNESBURG - The South African Special Risks Association (Sasria) has given an update on claims emanating from the July unrest that saw businesses in Kwazulu-Natal and Gauteng being looted and torched.

Sasria on Tuesday said it received 100% of the 14,051 claims.

Of those claims, R12.6 billion were paid out and the insurer hopes to settle 80% of the claims by March next year

Sasria's managing director Cedric Masondo said: "When we started, we thought it would be a fast billion. Then the following week, we thought it would be anywhere between R10 billion and R20 billion. And then months later when we received the claims, we realised this was big and it was in excess of R20 billion. So, we are now at R32 billion."

In his Medium-Term Budget Policy Statement last Thursday, Finance Minister Enoch Godongwana announced the allocation of an additional R11 billion to Sasria.