Sasria

Sasria is the only insurer in South Africa that indemnifies property against damage from strikes, riots, civil commotion, public disorder and terrorism. Standard local insurers exclude these perils from fire and material damage contracts. Sasria's cover attaches as an endorsement and protects assets up to R1 billion per insured.

Sasria is a public enterprise listed under Schedule 3B of the Public Finance Management Act, with the National Treasury of South Africa as its sole shareholder. It does not impose levies or receive direct state funding — all claims capacity comes from premiums managed through licensed agent companies. The Finance Ministry exercises ownership oversight, but the board operates independently.

Sasria's Executive Manager for Claims, Nkateko Ndlovu, has led the department since July 2020. She is a chartered accountant who previously served as the firm's Chief Audit Executive. Claims are submitted through agent companies, and the team validates and adjusts each loss individually, with heart of office functions based at the Sandton head office.

Yes. Sasria offers a dedicated municipal rating category that covers material damage for metropolitan, district and local municipalities. The cover attaches to the city's underlying fire policy and can extend to the private homes of mayors and councillors during their term of office, subject to a maximum indemnity limit of R1.5 million per house.

Sasria is a member of the International Forum for Terrorism Risk (Re)Insurance Pools, but the firm's published disclosures do not itemise outward reinsurance contracts for its South African risk book. It accumulates all special-risk premiums domestically and structures its own capital backstop within its R18.6 billion equity base.