Johannesburg - Insurer Santam expects its annual underwriting margin to come in below its target range of 5% to 7%, its chief executive said on Wednesday.
"I suspect we will still be below our target range because we've had such a poor start, but yes we'll certainly have a better second half," Ian Kirk told Reuters.
The company majority owned by insurer Sanlam posted a 1.3% underwriting margin for the first half after being hit by weather-related claims.
"I suspect we will still be below our target range because we've had such a poor start, but yes we'll certainly have a better second half," Ian Kirk told Reuters.
The company majority owned by insurer Sanlam posted a 1.3% underwriting margin for the first half after being hit by weather-related claims.