JOHANNESBURG - State insurance company Sasria provides cover against riots and provided much relief to those impacted by the 2021 riots.
It watches developments closely and was able to build reserves to meet those needs.
But, it told Parliament this year it's worried about an impending grid collapse grid and riots that would follow.
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It is asking government for more money to be able to meet its mandate.
The impact of the violence in 2021 was dire for the communities and companies in KwaZulu-Natal and Gauteng.
It also had an impact on the broader economy where R50-billion was lost.
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Sasria paid R24-billion in claims and subsequently made a loss of over R20-billion.
The insurer told Parliament it won't manage grid collapse without government intervention.
It initially told clients it would not cover claims related to it.
It has since retracted that but warns a number of risks remain.