
Santam’s Lloyd’s bet faces R550m loss as revenue lags costs
Santam’s new Lloyd’s syndicate is expected to post a loss of up to R550m in 2026, even as group earnings and international premium growth remain strong.

Santam’s new Lloyd’s syndicate is expected to post a loss of up to R550m in 2026, even as group earnings and international premium growth remain strong.

iTOO is building an AI insurance book cautiously, using performance data, international experience, and reinsurance to price a risk that is still evolving.

The GIFT City operation, together with the Lloyd’s syndicate and Avatar acquisition, is part of the group’s move to broaden its risk base and underwriting capabilities.