Reinsurance News

Santam Reinsurance

Nico Conradie to lead Santam Re as CEO

25th February 2026

South African short-term insurer, Santam, has appointed Nico Conradie as the Chief Executive Officer (CEO) of Santam Re, the insurer’s independent non-life treaty reinsurer, effective March 1st, 2026. He takes over the role from Kush Padia, the Chief Finance Officer (CFO) of Santam Re, who had acted as interim CEO while ... Read the full article

Sory Diomande named new CEO Santam Re & International

11th July 2023

Sory Diomande has become the new Chief Executive Officer (CEO) Santam Re & International at Santam Insurance, the largest general insurer in South Africa. Santam Re was formed in 2010, it only transacts proportional and non-proportional TREATY reinsurance for both marine and non-marine classes. No facultative reinsurance capacity is offered. It offers ... Read the full article

Santam passes most of $257m flood loss to reinsurers

1st September 2022

South African insurer Santam has reported its results for the first six months of 2022, which include a gross exposure of R4.4 billion (USD 257 million) to flooding in the KwaZulu-Natal province. However, the company’s net impact from the floods was limited to R566 million (USD 33 million) thanks to its ... Read the full article

Santam accepts SCA decision on BI claims

12th October 2021

The Supreme Court of Appeal (SCA) has brought legal clarity on the interpretation and application of certain contingent business interruption (CBI) policies. In the case between Santam and Ma-Afrika Hotels and Stellenbosch Kitchen, the SCA ruled that the longer 18-month indemnity period referred to in the main business interruption section of ... Read the full article

Santam to assess rejected COVID-19 BI claims

4th January 2021

South African insurer Santam is set to commence the process for assessing claims for policies with contingent business interruption (CBI) extensions. The claims assessment process applies to policies impacted by the recent judgment in the Western Cape High Court in the case between Santam and hospitality firms Ma-Afrika Hotels and Stellenbosch Kitchen ... Read the full article

Santam ordered to pay out BI claims to two South African hospitality companies

23rd November 2020

According to a Bloomberg article, a Cape Town court has ordered Santam to pay out Business Interruption (BI) claims to two South African hospitality companies. This could bring the potential to other South African insurers to cover losses suffered because of the coronavirus pandemic. The court has approached the BI case just ... Read the full article

Steve Murphy appointed Head of Santam Reinsurance

20th March 2018

South African insurer Santam has announced the appointment of Steve Murphy to Head of Santam Reinsurance, with effect from 1st April 2018. Murphy joined Santam Re on 1st July 2011 as the firm's representative in South East Asia, he worked to establish and develop Santam Re’s activities and business in China, ... Read the full article