We help make South Africa more resilient to natural catastrophes

In Africa, natural and man-made disasters claimed around 3000 lives and caused economic losses of more than USD 2.9 billion in 2017. Insured losses were USD 0.8 billion, mostly relating to claims from wildfires, storms and other severe weather events, but also to accidents at oil and gas facilities. From storms in Cape Town and Durban, the Knysna fires, and the ongoing drought, South Africa felt the full force of nature in a record breaking year globally. Insurers had to dig deep in 2017. For the Cape Town storms. Insurance covered ZAR 1.8 billion in damages – over half the total ZAR 3.5bn loss. In Durban, our industry covered ZAR 1 billion of the ZAR 2.7 billion lost in October's storms. While the Knysna fires created South Africa's largest ever wildfire loss – with insurers covering ZAR 2.2 billion of the ZAR 4.5 billion loss.

Africa is exposed to the same climate change factors will likely lead to more frequent warm winters and earlier springs. Crops will become more vulnerable, the proliferation of invasive species and diseases may increase, while weather events like drought, heavy rains and storms may become frequent and severe due to changing climate, further impacting farmers' livelihoods.  

Drought, cyclones, hail and floods – increasingly natural disasters are taking numerous lives worldwide and putting economies under severe stress. At Swiss Re, we apply our natural catastrophe expertise, together with the knowledge and insights of the Swiss Re Institute and its flagship sigma research, to ensure the best possible outcome for you and your clients. In today’s disruptive, data-driven environment, we can leverage our respective expertise and use tech-driven solutions to help you achieve success. And help make the world more resilient to natural catastrophes too. We’re smarter together.

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