In April 2025, Milliman hosted its second annual South African Insurance Industry Update Breakfast—this time expanding to two events in Johannesburg and Cape Town. These meetings gathered a wide range of insurance professionals to discuss current challenges and priorities for the sector. This summary outlines the major themes from both events, highlighting common issues.

Key topics include:

• Emerging risks such as cyber threats, artificial intelligence, and geopolitical tensions
• Scenario development and the interconnectedness of risk
• The recent Supervisory Statement on foreseeable dividends issued by the European Insurance and Occupational Pensions Authority
• Capital management: treatment of foreseeable dividends and mass lapse reinsurance
• Top-10 insurance industry influences, including local economic pressures, deglobalisation, and global health funding shifts