Liberty's 2022 Statistics reveal the re- emergence of cancer and lifestyle related conditions as the leading causes of c

Loading player...
GUEST – Tom Crotty, Lead Specialist, Technical Marketing: Risk Proposition Management, Liberty

As the world recedes to normalcy post the Covid- 19 pandemic, cancer has re-emerged as the leading cause for claims, according to insurer, Liberty's 2022 claim statistics. Last year Liberty paid out R6.98 billion in claims, primarily from its flagship Lifestyle Protector cover as well as other retail life insurance policies. These claim pay-outs were made to some 31,808 individuals and their beneficiaries. This represents a 31% decrease from 2021 when the insurer paid out R10.12 billion in claims. The reason for the decrease can be attributed to the reduction in claims arising from the COVID-19 pandemic. Claims related to the death of a client decreased by R3.14 billion, highlighting the severity of the pandemic during 2021. More specifically, there were only 191 COVID-19 related claims identified in 2022, compared to 1058 in 2021.
15 May 2023 5PM English South Africa Business News · Investing

Other recent episodes

AGOA Extended: Certainty or Illusion?

The US has extended the African Growth and Opportunity Act (AGOA) to 2028, stabilising duty‑free access for African exporters. But is this really a win, or just temporary certainty? Oxford Economic’s Jervin Naidoo explains what the extension means for South Africa’s auto industry, Kenya’s textiles, and Africa’s trade outlook in…
24 Sep 1PM 19 min

Your Retirement, Your Rules: ETFSA’s Starter Pack Explained

Retirement planning doesn’t need to be intimidating. Suzan Ramotshabi breaks down the biggest barriers stopping South Africans from investing, including Black Tax and fear of making mistakes. She explains how the Starter Pack works, additional ETFSA solutions, and the one step listeners can take today to begin their retirement journey…
23 Sep 1PM 22 min

SARB Tightens: What the 25bps Hike Means for You

The SARB surprised markets with a unanimous vote to hike rates by 25bps, landing against rising inflation expectations and global volatility. Johann Els unpacks the policy mood shift, the 4.4% inflation print, rand vulnerability, and how this decision affects credit conditions, household budgets, and South Africa’s growth outlook heading into…
23 Sep 12PM 14 min

The State of SA Insurance: Climate, Claims & Consumer Strain

South Africa’s insurers are navigating a perfect storm: higher catastrophe losses, rising claims inflation, affordability strain, and a shifting risk landscape shaped by climate volatility and crime. Santam’s Partner Solutions CEO, Gugu Mtetwa, unpacks the sector’s resilience, the worsening underinsurance problem, consumer behaviour shifts, and how insurers are adapting to…
22 Sep 1PM 24 min

Measured Momentum in SA Banking: Earnings Up, Risks Rising

South Africa’s major banks delivered headline earnings growth of 9.3% to R82.3 billion, stronger ROE at 20.5%, and improved cost‑to‑income ratios — but beneath the numbers lies a fragile domestic recovery and renewed inflation pressure. PwC’s Rivaan Roopnarain breaks down the competitive dynamics across retail, business, corporate and payments ecosystems,…
22 Sep 1PM 14 min