Kganyago Praises Insurance Companies Resilience During Covid
South African Reserve Bank SARB Governor Lesetja Kganyago has emphasised that the insurance industry must seek to strengthen societal resilience amid growing environmental and technological insurance related risks.
Delegates at the International Association of Insurance Supervisors IAIS Annual Conference in Cape Town heard that cyber security and climate change pose new risks for the insurance industry.
The IAISs annual conference was jointly hosted by the Financial Sector Conduct Authority and the Reserve Banks Prudential Authority.
Kganyago has commended the local insurance industry for its agility in meeting people needs during the COVID crisis.
He also praised the sector for ensuring that it had sufficient capital reserves to meet the unexpected challenge at the time.