South Africa’s largest short-term insurer, Santam has pledged up to R1 billion in relief to its business interruption clients within the small and medium-sized leisure, hospitality and nonessential retail businesses. This relief comes after a spate of legal battles with South African insurers pushing back on the payments of business interruption cover during the national lock-down. Ryan Woolley, CEO of Insurance Claims Africa joins CNBC Africa for more.
Santam earnings have been affected by a number of natural disasters including floods, drought and fires that has resulted in the company paying more than R800 million in Agri related catastrophes. The short-term insurer's headline earnings dropped by 1 per cent to 2069 cents. Santam Chief Financial Officer, Hennie Nel joins CNBC Africa for more.
Financial services group Santam, defined the major bumps in this period's performance as low-growth in South African and catastrophe events. Net insurance premium revenue increased by 6 per cent to R11.773 billion and headline earnings per share declined to 990 cents per share. Joining CNBC Africa for more is Hennie Nel, CFO, Santam.
Santam’s operating profit jumped 37 per cent to R3.5 billion for the year ended 31 December 2018. Santam Chief financial Officer, Hennie Nel joins CNBC Africa for more.
A2X has been making big strides since starting its stock exchange just 15 months ago. Most recently, Santam announced its secondary listing. A2X CEO, Kevin Brady spoke to CNBC Africa reporter Kopano Gumbi.
Sanlam concluded its biggest acquisition to date spurring its major growth drive on the continent. Together with Santam it has acquired the remaining 53 per cent of Morocco-based SAHAM Finances, it did not already own. Joining CNBC Africa for more on the transaction is Sanlam’s CEO, Ian Kirk.