Santam's headline earnings per share rise 47% after 'relatively benign' 2018

A "relatively benign" claims environment in 2018 contributed to a 47% rise in Santam's headline earnings per share from R14.25 in 2017 to R20.99 in 2018, its Group CEO Lizé Lambrechts said on Thursday.

The insurance group published a summary of its audited consolidated financial statements for the year ended December 31, 2018.

The group's conventional insurance gross written premiums grew by 7% in 2018 over 2017, while gross written premiums were up 11%.

In a lunchtime phone interview with Fin24, Lambrechts described the results as "excellent".

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She said that while Santam took a hit from the Knysna fires and flooding damages in Johannesburg and KwaZulu-Natal in 2017, 2018 was relatively benign.

Santam announced a dividend R6.65 cents per share in 2018, compared to R6.16 cents per share in 2018.

Lambrechts said this was broadly in line with Santam's goal of increasing dividend payouts in line with its conventional insurance growth.