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The insurer said diluted
headline earnings per share totalled 171.4 cents in the six months to end-June,
from 120.1c a year earlier.
The company, which has personal finance and insurance businesses across Africa, Europe, India, Australia and the United States, had flagged headline earnings would exceed the previous year's by as much as 45%.
"The South African business has done remarkably well and then we've had maiden contributions from Malaysian and Indian businesses," CEO Johan van Zyl told Reuters.
New business volumes rose 37% to R83bn after an acquisition run last year netted it a stake in Malaysia's Pacific & Orient Insurance and increased its shareholding in India's Shriram Capital.
Sanlam said it still held R3.2bn in surplus capital at the end of June which was earmarked for expansion.
It is looking to acquire a life insurer in either Malaysia or Indonesia, Van Zyl said, and has also set aside R800m to raise its stake in Indian businesses should it gain regulatory approval.
Last month, Sanlam raised R1.16bn through a 10-year subordinated bond. Van Zyl said the debt was rolled over after the maturing of another bond to keep 15% of the company's capital in debt.
Short-term insurer Santam, in which Sanlam holds a controlling stake, has already reported a 13% drop in earnings after it was hit by weather-related claims in the first half.
Sanlam shares are up more than 4% this year, lagging behind an 8% increase by Johannesburg's All-share index.
