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Santam expects lower earnings

Feb 14 2012 16:59 I-Net Bridge

Company Data

Santam Ltd [JSE : SNT]

Last traded R168.00
Change R-0.05
% Change -0.03%
Cumulative volume 33,113
Market cap R20.05bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - The country's biggest short-term insurer, Santam [JSE:SNT], on Tuesday advised that its headline earnings per share (Heps) for the year ended December 31 2011 are expected to be between 5% and 15 % below the number for the corresponding period, while earnings per share are expected to be 15% to 25% lower than for 2010.

The decrease in Heps was due to the lower levels of investment return, Santam said.

The group's solvency margin as at December 31 2011 is expected to be higher than the targeted 35% to 45% band.

It said performance of the investment portfolio was broadly in line with the equity market movements, resulting in significantly lower returns from the portfolio compared to 2010.

Santam will release its annual audited results for the year ended December 31 2011 on February 28.

 
 
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