South African insurer Santam Ltd.’s reinsurers absorbed 87% of the overall losses from the April floods, reducing the floods’ net impact on Santam to 566 million South African rand ($33 million), Reinsurance News reported. The floods caused heavy losses in KwaZulu-Natal province, resulting in a gross exposure of ZAR4.4 billion for Santam.
Texas Blues faces $900 million hospital demand in contract dispute
