Life Insurers Pay Out Billions as South Africa Deaths Spike
- Country is battling lengthy third wave; fourth one expected
- Government has opened vaccination program to everyone over 18
Fresh burials in Westbury Park Cemetery in Johannesburg.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South African life insurers settled claims worth 47.6 billion rand ($3.3 billion) in the year through March after the deaths of more than one million policyholders.
The death toll represents an increase of 309,733 from the same period a year earlier, the Association for Savings and Investment South Africa said in a statement on Tuesday. The statistics reflect claims from various types of life cover and funeral policies.