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South Africa: Insurance industry update - February 2024

12 February 2024

In South Africa, the insurance industry as a whole is robust, solvent, and liquid. Fortunately last year, no new curatorships emerged, although some persist, mired in legal battles. In this market update, we take a look at the following topics as we move deeper into 2024: 

  • Product, performance, and embedded value under International Financial Reporting Standard 17 
  • Levelling the playing field: Increasing microinsurance waiting periods
  • Artificial intelligence applications and model failures
  • Understanding the consequences of regulatory violations under two key laws
  • Risk margin relief for EU and UK insurers
  • Prudential Authority update: Government bond curve review

About the Author(s)

Susan Melmed

Ishkar Singh

Gaël Neuhaus

Tebogo Khomo

Cameron Hollaway

Rithik Antony

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