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Sasria SOC Limited Circular 538 Sasria Rate Adjustment For Specific Classes Of BusinessFinal

SOUTH AFRICAN SPECIAL RISKS INSURANCE ASSOCIATION (Sasria Soc Ltd)Ref: https://sasria.co.za/wp-content/uploads/2026/02/Sasria-SOC-Limited-Circular-538-Sasria-Rate-Adjustment-for-Specific-Classes-of-BusinessFinal.pdf

Official source

Source domain: sasria.co.za

Collected on 13 July 2026

Always confirm details on the official source before acting.

Our copy (archived 21 July 2026)Official source

What this means

Sasria SOC Limited issued Circular 538 to its agents and intermediaries announcing a four-month notice of rate adjustments for selected classes of business. The new approved rates are effective from 1 October 2025, following actuarial analysis and stakeholder engagement, and are intended to address underwriting losses in risk-intensive classes (including Goods-in-Transit and Mobile Plant) and rising reinsurance/capital pressures. The circular states that all policies renewing with effect from 1 October 2025 will be subject to the new rates through the final renewal cycle ending 30 September 2026, while mid-term endorsements processed after 1 October 2025 but before the renewal date remain subject to prevailing rates until scheduled renewal. The full updated rate schedule is referenced as being applicable on 1 October 2025.

What this document offers

Read out of this document by Govermate's AI, in its own words. Each one quotes the line it came from — confirm on the official source before acting.

insurance rate schedule changeOpen

Rate adjustment opportunity for selected classes of business (new approved rates effective 1 October 2025)

Sasria SOC Limited notifies its agents and intermediaries that selected classes of business will have adjusted rates effective 1 October 2025, with the new approved rates applying to all policies renewing from that date through the final renewal cycle ending 30 September 2026. Mid-term endorsements after 1 October 2025 but before the renewal date remain on prevailing rates until scheduled renewal.

Who it is for: Sasria agents and intermediaries handling Sasria policies and renewals
How to act on it: Use the updated rates schedule applicable on 1 October 2025 for renewal transactions from 1 October 2025 through to the final renewal cycle ending 30 September 2026; for mid-term endorsements processed after 1 October 2025 but before the renewal date, keep them subject to prevailing rates until the policy’s scheduled renewal date.
Closes: 30 September 2026

Show the line this came from

All policies renewing with effect from 1 October 2025 will be subject to the new approved rates, irrespective of whether the premium payment frequency is monthly or annual. The new rates will therefore apply to all renewal transactions from 1 October 2025 through to the final renewal cycle ending 30 September 2026. In respect of endorsements effected on these policies, whether monthly or annually payable, any mid-term endorsements processed after 1 October 2025 but before the renewal date will remain subject to the prevailing rates and will not trigger the application of the new rates until th

Facts

Reference

https://sasria.co.za/wp-content/uploads/2026/02/Sasria-SOC-Limited-Circular-538-Sasria-Rate-Adjustment-for-Specific-Classes-of-BusinessFinal.pdf

Key Takeaways

Circular number: 538
Document date: 31 May 2025
Four-month notice period starts: 1 June 2025
Effective date of new rates: 1 October 2025
New rates apply to renewals through final renewal cycle ending: 30 September 2026
Applies to all renewal transactions regardless of payment frequency (monthly or annual)
Mid-term endorsements after 1 October 2025 but before renewal date use prevailing rates until scheduled renewal
Reason for increases: underwriting losses in Goods-in-Transit and Mobile Plant; reinsurance cost increases; capital adequacy pressures; need for stronger capital reserves
Staggered/moderated increases to minimise client disruption
Full updated rate schedule referenced as applicable on 1 October 2025
Sasria SOC Limited
Mpumi Tykwe (CEO)

Dates

Closing Date

1 October 2025