In 2022, Momentum Retail Life Insurance paid out R6.18 billion in claims, experiencing a 31% decrease in Covid-19-related death claims compared to the previous year. Cardiovascular events were the leading cause of overall death claims at 31%, followed by cancer at 23%, and Covid-19 at 12%. Unnatural deaths accounted for 11% of total death claims, an increase of 11% from the previous year. Notably, motor vehicle accident-related deaths rose by 17%, murder by 72% and surgery-related deaths by 63%, while suicides decreased by 7%. Momentum Retail Life Insurance displayed a strong claim payment record, with 92.98% of claims for all life-insurance benefits paid out in 2022. Mortality benefits had a payout rate exceeding 99%.
