SASRIA in talks with treasury to plug financial hole caused by unrest claims

The original article can be found here.

Article highlights:

  • Board chairperson Moss Ngoasheng said Sasria had a balance sheet of R9 billion but was facing claims of between R20 billion and R25 billion;
  • Parliament was told that Sasria’s liabilities exceeded its assets, making it insolvent;
  • Treasury has already agreed to a cash injection of R3.9 billion, the insurer’s board chairperson Moss Ngoasheng said this was “completely inadequate”.