WATCH | Insurers warn of possible premium increase

JOHANNESBURG - South Africans could soon be paying more on their insurance premiums as insurers face growing risks both globally and locally.

Insurer Sanlam says the recent flooding and inflation will impact premiums going forward.

READ: Competition Commission raids insurance companies

The group released results showing Sanlam's headline earnings slipped by 8% in the six months to June.

Higher claims have also been fuelled by the rising level of crime in the country and load shedding.

South Africans could soon be paying more on their insurance premiums as insurers face growing risks both globally and locally. Insurer Sanlam says the recent flooding and inflation will impact on premiums going forward. #DStv403 #eNCA pic.twitter.com/8xVZCW5hSx

— eNCA (@eNCA) September 9, 2022