Johannesburg - Short-term insurer Santam [JSE:SNT] reported a 40% jump in full-year earnings on Monday, slightly lower than expected, after a turnaround in its crop insurance segment and an absence in hail-related catastrophes.
Santam said diluted headline earnings per share rose to 1 435 cents in the year to end-December from 1 023c a year ago. Analysts polled by Reuters had predicted a 42% increase in earnings to 1 450c per share.
The insurer majority-owned by Sanlam said its gross written premiums - or the amount customers paid up for their insurance policies during the period - rose 10% to R22.7bn.