Riots in South Africa: the Public Treasury pays 260 million USD to SASRIA

South African Special Risks Insurance AssociationThe South African government has committed itself to South African Special Risks Insurance Association (SASRIA) to cover the damages linked to the riots that started in July 2021. To do so, the Treasury is paying 3.9 billion ZAR (260.38 million USD) to the State-owned insurer to help it fulfill its obligations until the end of the current financial year (March 31, 2022). An additional governmental support is also being considered.

According to SASRIA's estimates, the damages caused by the riots could amount to around 20 to 25 billion ZAR (1.3 to 1.6 billion USD).

It should be noted that the insurer has so far settled claims amounting to 5.8 billion ZAR (387.23 million USD).

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