JOHANNESBURG, Nov 18 (Reuters) - Shares in South Africa’s Santam fell over 4% on Wednesday, a day after a court ruled it was liable to pay a hotel group’s coronavirus-related claim that it had previously rejected.
Like its peers around the world, Santam, South Africa’s largest non-life insurer, has been fighting with some clients after it resisted paying claims related to the impact of coronavirus lockdowns on their businesses.
Santam has yet to comment on the court decision. The insurer has argued that lockdowns were not covered under its business interruption policies. (Reporting by Emma Rumney; editing by Mfuneko Toyana)