• Inside Labour

    Away with empty rhetoric and slogans - labour needs to focus on real issues, says Terry Bell.

  • Wrap-up: Davos insights

    Alec Hogg speaks about the top three issues at this year's World Economic Forum.

  • Netflix and SA video

    Much of Netflix's potential impact on SA has already been made, says Arthur Goldstuck.

Loading...
See More

Santam posts 'pleasing' results

Mar 03 2010 15:25

Company Data

Santam Limited [JSE:SNT]

Last traded 0
Change -4,15
% Change 0
Cumulative volume 5745
Market cap 27.25bn

Last Updated: 30-01-2015 at 04:40. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Santam poised for upswing

Santam: short-term favourite

Climate change to hit insurers

Santam/Super Group deal approved

Santam earnings up to 60% higher

Sanlam, Santam 'too pricey'

 

Johannesburg - The country's biggest short-term insurer, Santam [JSE:SNT] on Wednesday reported that diluted headline earnings per share for the year ended December had increased from 582c to 889c.

Diluted headline earnings from continuing operations increased from 618c to 889c.

Santam said that after a challenging first half, it had experienced a significantly better second half. This resulted in a pleasing overall performance for 2009 against the backdrop of the difficult economic climate and underwriting conditions.

In line with the industry as a whole, underwriting margins came under considerable pressure, particularly in the first six months. Investment returns improved on firmer equity markets, especially when viewed against the poor performance in 2008.

The group delivered significantly improved earnings, with headline earnings of R1.022bn - up 55% on 2008. This equated to headline earnings per share of 906c compared to 586c in the prior year.

"Growth of 6% in gross written premiums was a credible achievement in the economic climate, comparing favourably with the industry. While positive growth was achieved across most classes of business, achieving an appropriate rate for the risk insured remained a challenge," the group stated.

- I-Net Bridge

NEXT ON FIN24X

 

Latest Articles

Fun and inexpensive things to do with the kids Read More...
8 simple ways to earn extra money Read More...
6 motivational tips to help you save this year Read More...
Invest for Income Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...