
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.

Severe storms drove a sharp increase in large claims, but improved book profitability and underwriting discipline helped keep the margin above the target midpoint.

Currency movements, bond market distortions, reinsurance losses, and strategic investment spending combined to weigh on Sanlam’s reported results.

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