
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.

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.

Santam’s Thabiso Rulashe on how insurers are adapting to stay resilient – and profitable – in an era of rising risks.

From early-warning systems in liability cover to behaviour-based motor premiums, local insurers are adapting AI tools to South Africa’s unique risks.

Only a fraction of South African consumers and businesses have cyber cover, leaving a significant gap between awareness and protection.

The anticipated gross written premium for 2026 is between R6.9bn and R9.2bn.

Santam says clients are opting for core covers only, part-insuring assets, increasing excesses, and taking risk-mitigation measures to reduce premiums.

Theft under property covers remains the leading driver of crime-related claims, even as overall crime claims dipped in 2024, Santam reports.

Two-thirds of brokers say they want plain-language breakdowns of extensions and exclusions, according to the 2025 Santam Insurance Barometer.

Santam will rebrand five of its specialist insurance units under a single identity, streamlining operations and strengthening its presence across Africa and emerging markets.

The group is keeping its discretionary capital well above target amid concerns over potential tariff-driven inflation, supply-chain shocks, and credit defaults.

PSG Financial Services posted a strong overall performance for the year, with a 24.7% increase in recurring headline earnings per share, driven by growth in PSG Insure, PSG Wealth, and PSG Asset Management.

The group recorded double-digit earnings, robust new business volumes, and an increased dividend, all underpinned by its tri-regional focus.

Nearly all business units report strong growth in new business volumes.

After months of speculation, Sanlam has officially partnered with Fedhealth as its exclusive open medical scheme provider.

Cyber insurance and practical measures can shield a business from devastating data breaches and ransomware attacks.

The financial sector stands out with leading companies like RMB, Sanlam, Momentum, and Santam earning Top Employer status for 2025.

Santam will pay Sanlam Life R925 million to buy 60% of the A1 ordinary shares in NMS Insurance Services.