Lesetja Kganyago: African Insurance Exchange 2022
By Bank for International Settlements (BIS)
In this keynote address, Governor Lesetja Kganyago reflects on the "perfect storm" of risks that have tested the South African non-life insurance sector, including the COVID-19 pandemic, the July 2021 civil unrest, and the devastating KwaZulu-Natal floods. A central theme is the "Insurance Protection Gap"—the stark disparity between total economic losses and insured losses.
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