Document2 of 2 opportunities in this document openReport

Circular 521 Sasria SOC Ltd Reduction Of Outsource And Intermediary Fees

SOUTH AFRICAN SPECIAL RISKS INSURANCE ASSOCIATION (Sasria Soc Ltd)Ref: https://sasria.co.za/wp-content/uploads/2025/04/Circular-521-Sasria-SOC-Ltd-Reduction-of-Outsource-and-Intermediary-Fees.pdf

Official source

Source domain: sasria.co.za

Collected on 13 July 2026

Always confirm details on the official source before acting.

What this means

SASRIA SOC Ltd issues Circular 521 dated 29 December 2022 to all SASRIA agents and intermediaries. It announces that, effective 1 May 2023, intermediary and outsource fees will be reduced for both non-motor and motor classes of business, and that the change applies to all new business, renewals, and endorsements for relevant coupons. SASRIA states the fee reduction is intended to reduce costs due to underwriting and reinsurance pressures, and it commits to increase fees again once its financial position stabilises. The CEO, Mpumi Tyikwe, asks recipients to update their systems and distribute the communication to business partners.

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.

fee reduction for service providersOngoing

Reduction of Outsource Fees for Non-Motor Business

Effective 1 May 2023, the outsource fee for non-motor classes of business will be reduced from 12.5% to 10.5%. This applies to all new business, renewals, and endorsements for relevant coupons.

Who it is for: SASRIA agents and intermediaries handling non-motor business
How to act on it: No action required by recipients; the change is implemented automatically upon system updates. Recipients must ensure their systems reflect the new rates.

The document's recorded date is 29 December 2022. Confirm on the official source.

Show the line this came from

Facts

Reference

https://sasria.co.za/wp-content/uploads/2025/04/Circular-521-Sasria-SOC-Ltd-Reduction-of-Outsource-and-Intermediary-Fees.pdf

Key Takeaways

Document: Circular 521 (SASRIA SOC Ltd)
Date issued: 29 December 2022
Effective date: 1 May 2023
Outsource fee reduction: Non-Motor 12.5% -> 10.5%; Motor 12.5% -> 10.5%
Intermediary fee reduction: Non-Motor 15% -> 12%; Motor 12.5% -> 11.5%
Applies to: all new business, renewals, and endorsements for coupons effective 1 May 2023
Classes of business affected: Material damage, Business Interruption, Money, Goods in Transit, Contract Works, Marine, Motor
SASRIA expectation: absolute amounts payable to agent insurers and brokers still increase by 8% due to premium increases
Contact persons for queries: Muzi Dladla and Mpumi Tyikwe (CEO)
Sasria SOC Ltd
South African Government
Muzi Dladla
Mpumi Tyikwe

Dates

Closing Date

29 December 2022