Santam keeps underwriting on target despite R1.5bn claims
Severe storms drove a sharp increase in large claims, but improved book profitability and underwriting discipline helped keep the margin above the target midpoint.
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Flood and fire claims dent Santam’s underwriting performance
The insurer anticipates additional claims from the recent storms in the Western Cape, although the full impact is not yet clear.
Santam underwriting surge lifts profitability well above targets
Lower weather-related claims and disciplined pricing helped lift underwriting profitability in 2025, pushing margins above the insurer’s long-term target range.
Premium growth fuels 33.7% jump in OUTsurance’s profits
Youi delivered strong performance in Australia, but the rand’s appreciation trimmed rand-translated premiums.
Santam’s GWP up 10% as international business surges by 25%
For the six months to June, Santam reports net income growth of 19%, with a underwriting margin of 11.3% – well above its target range.
Survey highlights recovery in SA insurance industry
Non-life insurers bounced back from a loss of R16.7bn in 2022 to a profit of R13.7bn in 2023, while life insurers posted significant profit growth, says KPMG.
Santam reports 34% net income growth despite rising weather-related claims
The group attributed the turnaround in motor insurance to managing claims inflation and improving risk selection, resulting in a significant reduction in claims frequency.
