PPS says Covid-19 sickness claims remain stubbornly high. Liberty says it’s starting to experience the “second-order effects” of the virus.
Covid-19 is still very much around, but in a different form, some life insurers’ latest claims statistics show.
PPS was the first insurer to publish its 2022 claims statistics when it released its financial results. Although its total gross claims paid declined by 18% to R5 billion, thanks to a drastic decline in Covid-19-related death claims, sickness claims rose.
The insurer paid R263 million in Covid-19-related claims, with R213 million going towards sickness claims and only R39 million for death claims.
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