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30-Aug-2018
(Official Notice)
30-Aug-2018
(C)
13-Aug-2018
(Official Notice)
Shareholders are advised that Santam expects its headline earnings per share (HEPS) for the six months ended 30 June 2018 to be between 1 000 cps and 1 040 cps (2017: 593 cps). This will be between 69% and 75% higher than that reported for the comparative period in 2017. Earnings per share (EPS) is also expected to be between 1 000 cps and 1 040 cps (2017: 683 cps) which is between 46% and 52% higher.



The increase in HEPS and EPS has been driven by significantly improved underwriting results compared to the six months ended June 2017. The net underwriting margin is expected to be slightly above the long-term target range of 4% to 8% of net earned premiums due to improved underwriting conditions during the reporting period.



Santam will release its reviewed results for the period ended 30 June 2018 on 30 August 2018.
01-Aug-2018
(Official Notice)
The board of directors of Santam ("the board") notified its shareholders that Mr PE Speckmann will serve as chairperson of the company?s Audit Committee from 1 August 2018. Mr Speckmann has been a member of the Audit Committee from March 2017 and also serves on the Risk Committee.



Mr MJ Reyneke, who served as chairperson of the Audit Committee from 1 June 2016 will continue to serve as a member of the Committee. Mr Reyneke will also continue to serve as chairperson of the Risk Committee.
29-Jun-2018
(Official Notice)
Shareholders are advised of the following changes to the board of directors (?Board?):

* Mr Grant Gelink will resign as Chairman and Non-Executive Director with effect from 30 June 2018.

* The board announced the appointment of Mr Vusumuzi (Vusi) Phillip Khanyile as its chairperson with effect from 1 July 2018.



Mr Khanyile will serve as a member of Company?s Nominations Committee and Human Resources and Remuneration Committee from 1 July 2018. Mr Junior Ngulube has been appointed to serve as a member of the company?s Social, Ethics and Sustainability Committee with effect from 1 July 2018.
31-May-2018
(Official Notice)
Santam shareholders are advised that at the annual general meeting of Santam held on 30 May 2018 all the ordinary and special resolutions were passed by the requisite majority of votes.



The company?s total number of shares in issue eligible to vote is 115 131 417 and the total number of shares represented in person or by proxy at the meeting was 97 450 262, representing 84.64% of the eligible shares.
30-May-2018
(Official Notice)
This serves as a general communication to Santam shareholders with regard to the business for the four- month period ended 30 April 2018.



Conventional insurance business

The Santam Group?s conventional insurance business segment achieved strong underwriting results with a net underwriting margin above the upper end of the target range of 4% to 8%. The investment return on insurance funds was marginally lower than the comparative period due to lower interest rates and lower levels of insurance funds.



The Santam Commercial and Personal intermediated business reported acceptable growth in the current challenging economic climate. Overall, claims benefited from an absence of significant catastrophe events and fewer large commercial claims.



The Santam Specialist business experienced strong growth in the corporate property business, with more subdued growth in the other specialist classes. A number of large property and liability claims were reported, negatively impacting underwriting results, while a low incidence of hail and drought claims benefited the agriculture business.



MiWay was also affected by the challenging environment and experienced slower growth compared to the corresponding period in 2017. Good underwriting results were, however, achieved, supported by a lower claims frequency.



Santam Re reported strong gross written premium growth from third party business outside South Africa whilst maintaining acceptable underwriting results.



Alternative risk transfer business (ART)

The ART business segment reported strong growth and operating results with good contributions from both Centriq and Santam Structured Insurance.



Sanlam Emerging Market (SEM) partner businesses

Saham Finances? growth and improved operating results were in line with expectations, with the Angola operations in particular holding up well in a difficult environment. Shriram General Insurance (SGI) recorded satisfactory growth and operating results.



Investment performance

The group?s investment performance was below expectations, in line with the market for the period. Headline earnings remain susceptible to the inherent volatility of underwriting and investment activities. The next set of results will be for the six months to 30 June 2018, to be released on SENS on 30 August 2018.
04-May-2018
(Official Notice)
Notice was given that the Company?s annual compliance report in terms of section 13G(2) of the Act has been published and is available on the Company?s website at www.santam.co.za/financial/sustainability/transformation-bbbee
26-Apr-2018
(Official Notice)
Shareholders are advised that the company`s annual integrated report and summary consolidated financial statements for the year ended 31 December 2017 were posted to shareholders on 26 April 2018 and contain no modifications to the audited results which were published on 1 March 2018. PricewaterhouseCoopers Inc audited the results and the annual financial statements of Santam and their reports are available for inspection at the registered offices of the company. The reports are also available on the company?s website.



Notice is hereby given that the annual general meeting of the company will be held at 11h00 on Wednesday 30 May 2018, at Santam Head Office, 1 Sportica Crescent, Tygervalley, Bellville, Cape Town, to transact business as stated in the notice of the annual general meeting.



23-Apr-2018
(Official Notice)
Mr Vusumuzi (Vusi) Phillip Khanyile has been appointed to the Board as an Independent Non- Executive Director with effect from 23 April 2018.



Mr Junior John Ngulube has been appointed to the Board as a Non-Executive Director with effect from 23 April 2018.



These abovementioned directors will be up for re-election at the Annual General Meeting scheduled for 30 May 2018 in terms of Santam?s Memorandum of Incorporation.



Change to the function of a director

Ms NV Mtetwa has been appointed to serve on the Company?s Investment Committee.
08-Mar-2018
(Official Notice)
01-Mar-2018
(C)
21-Feb-2018
(Official Notice)
Shareholders are advised that Santam expects its headline earnings per share (HEPS) for the year ended 31 December 2017 to be between 1 401 cps and 1 455 cps (2016: 1 086). This will be between 29% and 34% higher than that reported for the comparative period in 2016. Earnings per share (EPS) is expected to be between 1 485 cps and 1 540 cps (2016: 1 100 cps) which is between 35% and 40% higher.



The increase in HEPS and EPS has been driven mainly by improved investment results compared to 2016. EPS was furthermore positively impacted by the release of foreign currency gains on the winding up of Santam International.



The underwriting results held up well, following two significant catastrophe events, as well as an increase in large property claims during the first half of 2017. The net underwriting margin is expected to be close to the midpoint of the long-term target range of 4% to 8% of net earned premiums.



The financial information on which this trading statement is based has not been reviewed or reported on by Santam?s external auditors. Santam will release its audited results for the year ended 31 December 2017 on 1 March 2018.

05-Jan-2018
(Official Notice)
The board of directors of Santam Ltd. ("the board") hereby notifies its shareholders that Ms Yaganthrie (Yegs) Ramiah has resigned from the board with effect from 5 January 2018. Ramiah has served as a director since 13 December 2011.
29-Nov-2017
(Official Notice)
31-Aug-2017
(C)
01-Jun-2017
(Official Notice)
Santam shareholders are advised that at the annual general meeting of Santam held on 31 May 2017 all the ordinary and special resolutions were passed by the requisite majority of votes.



The company?s total number of shares in issue eligible to vote is 110 711 229 and the total number of shares represented in person or by proxy at the meeting was 99 676 790, representing 90.03% of the eligible shares.

31-May-2017
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the business environment for the four month period ended 30 April 2017.



The Group achieved acceptable underwriting results in a tough economic climate and a deteriorating claims environment. Growth in gross written premium was satisfactory given the impact of competitive market conditions and low economic growth. The Group achieved a net underwriting margin within the target range of 4% to 8%, but below the midpoint.



The Santam Commercial and Personal intermediated business reported strong growth; however the underwriting results were under pressure following significant fire related losses in the Western Cape during January 2017 and an increase in the frequency of claims. The Santam Specialist business experienced very competitive trading conditions and the underwriting results were negatively impacted by a number of large corporate property claims. The other specialist insurance classes achieved solid results, with the Crop business in particular benefiting from benign weather conditions and much better rainfall in summer rainfall regions of South Africa. MiWay reported excellent underwriting results whilst maintaining a good growth momentum. Santam Re contributed acceptable underwriting results.



The investment results were positively impacted by the good performance of both the listed equity and active income portfolios. Foreign currency exchange differences had a minimal impact during the period. The return on insurance funds was in line with the returns achieved during 2016. The strategic investment in Saham Finances, the major new acquisition concluded during 2016, made a satisfactory contribution to equity accounted earnings. The operational performance of Saham Finances remained in line with the business plan.



The transaction to acquire 100% of RMB-SI Investments, a structured insurance business previously owned by Rand Merchant Investment Holdings, announced in August 2016, became effective in March 2017.



The interim results for the six month period ending 30 June 2017 will be published on SENS on or about 31 August 2017.
11-May-2017
(Official Notice)
Shareholders are referred to the joint announcement released by Sanlam and Santam on the Stock Exchange News Service of the JSE on 14 December 2016, regarding the acquisition of a further 16.6% interest in SAHAM Finances via a subscription for new shares by Sanlam Emerging Markets Ireland Ltd., the wholly- owned subsidiary of SAN JV (RF) (Pty) Ltd., a special purpose vehicle held jointly by Sanlam?s wholly-owned subsidiary, Sanlam Emerging Markets (Pty) Ltd., and Santam (?the Transaction?).



The boards of directors of Sanlam and Santam advised shareholders that all of the conditions precedent relating to the Transaction have now been fulfilled and the closing process completed. The effective date of the Transaction is 10 May 2017.
12-Apr-2017
(Official Notice)
Noteholders are advised that following the rating adjustment on 3 April 2017 by S-P Global Ratings (?S-P?) of the South African Long-Term Foreign Currency Rating to ?BB+? from ?BBB-?, S-P lowered their long-term counterparty credit and financial strength ratings on Santam to ?BBB-? from ?BBB? on 7 April 2017, maintaining their negative outlook. S-P?s ratings on Santam are limited by the local currency sovereign credit rating on South Africa.



At the same time, Santam?s South African national scale rating was lowered to ?zaAA-?from ?zaAAA? and the South African national scale rating on subordinated and deferrable debt issued by Santam was lowered to ?zaA-? from ?zaAA-?.



Santam?s Indicative Standalone Credit Profile before taking into account the Sovereign Risk adjustment remained unchanged at ?a-?.



The abovementioned rating adjustments are not expected to have a negative impact on Santam?s solvency position. The group?s economic capital coverage ratio at 31 December 2016, based on the Santam internal model, was 155%, close to the midpoint of the target range of 130% to 170%.
05-Apr-2017
(Official Notice)
Santam advised bondholders that the annual financial statements, for the year ended 31 December 2016 are available for inspection at the registered office of the Issuer. The annual financial statements have also been made available on the following website www.santam.co.za/financial/investor-relations/integrated-reporting/.
31-Mar-2017
(Official Notice)
Shareholders are advised that the company`s annual integrated report and summary consolidated financial statements for the year ended 31 December 2016 were posted to shareholders on 31 March 2017 and contain no modifications to the audited results which were published on 2 March 2017. PricewaterhouseCoopers Inc audited the results and the annual financial statements of Santam and their reports are available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held at 11h00 on Wednesday 31 May 2017, at Santam Head Office, 1 Sportica Crescent, Tygervalley, Bellville, Cape Town, to transact business as stated in the notice of the annual general meeting.

07-Mar-2017
(Official Notice)
The board of directors of Santam notified its shareholders that following the recent changes to the board announced on 3 March 2017, Mr PE Speckmann and Ms NV Mtetwa have been appointed to serve on the company?s audit committee.
03-Mar-2017
(Official Notice)
The board of directors of Santam ("the board") hereby notifies its shareholders that Ms Tantaswa Nyoka (nee Fubu) and Mr Monwabisi Fandeso resigned from the board with effect from 2 March 2017.
02-Mar-2017
(C)
14-Feb-2017
(Official Notice)
Shareholders are advised that Santam expects its headline earnings per share (HEPS) for the year ended 31 December 2016 to be between 39% to 44% below and earnings per share (EPS) to be between 44% to 49% lower than those reported for the comparative period in 2015. HEPS is expected to be between 1 033 cps and 1 125 cps (2015: 1 844 cps), while EPS is expected to be between 1 066 cps and 1 170 cps (2015: 2 090 cps). The decrease in HEPS and EPS has been driven by a normalisation of the net underwriting results, compared to the exceptional performance of 2015, as well as significantly lower investment returns, mainly due to the strengthening of the rand in 2016.



The net underwriting margin is expected to be above the midpoint of the long term target range of 4% to 8% of net earned premiums. The underwriting results were negatively impacted by a few large corporate property claims and a decline in crop business profits from their high levels of 2015, driven by drought-related claims during the first half of 2016. Several catastrophe events impacted the 2016 results, mitigated by reinsurance recoveries. The net commission ratio also increased following lower reinsurance commission earned on specialist business lines and higher commission rates on business from outside South Africa.



The South African investment portfolio performed well compared to the market. Foreign currency exchange losses however had a significant negative impact on investment returns.



The financial information on which this Trading Statement is based has not been reviewed or reported on by Santam?s external auditors. Santam will release its audited results for the year ended 31 December 2016 on 2 March 2017.

09-Feb-2017
(Official Notice)
The board of directors of Santam Ltd. ("the board") hereby notifies its shareholders that Ms Nomagugu Mtetwa and Mr Preston Speckmann have been appointed to the Board as Independent Non-Executive Directors with effect from 8 February 2017. Both Ms Mtetwa and Mr Speckmann will serve on the company?s Risk Committee.
30-Nov-2016
(Official Notice)
09-Sep-2016
(Official Notice)
The board of directors of Santam Ltd. ("the board") hereby notifies its shareholders that Mr Jacobus Petrus M?ller will retire from the board with effect from 13 September 2016. Mr M?ller joined the Santam Board in October 2006.



Mr Heinie Werth has been appointed to the board as a non-executive director with effect from 13 September 2016.

02-Sep-2016
(Official Notice)
The Company advised noteholders that the interim report for the period ended 30 June 2016 is available on the Issuer?s website www.santam.co.za/financial/investor-relations/financial- results-and-reports/financial-reports/ and at the registered office of the Company.
31-Aug-2016
(C)
Net income for the interim period increased by 4% to R10.9 billion (2015: R10.4 billion). Results from operating activities dropped by 21% to R1.1 billion (2015: R1.4 billion). Profit attributable to equity holders declined by 30% to R697 million (2015: R995 million). Furthermore, headline earnings per share lowered to 633 cents per share (2015: 887 cents per share).



Declaration of ordinary and special dividend (Number 125)

Notice is hereby given that the board has declared a gross interim dividend of 311 cents per share (2015: 288 cents per share) and a special gross dividend of 800 cents per share (2012: 850 cents).



Prospects

Trading conditions in the South African insurance industry remain very competitive in a low-growth economic environment. Real GDP growth is expected to be zero for 2016, resulting in almost no growth of insurable assets for the insurance industry. The repo rate increased by 50 basis points in 2015, with a further 75 basis points increase during the first half of 2016 which will continue to put pressure on consumers.



Despite the 5% strengthening of the rand against the US dollar compared to December 2015, the 25% rand depreciation during 2015 is expected to negatively impact claims cost (mainly imported motor parts). Santam continues to focus on the optimisation of the claims and procurement value chains to increase efficiency and counter the impact of the weakening rand.



The group's focus remains on profitable growth in South Africa and to increase its international diversification through the Santam Specialist Business and Santam Re. Santam continues to strategically focus on supporting the development of the SEM general insurance businesses in emerging markets by allocating appropriate technical resources. In South Africa, focus areas include developing Santam's full multichannel capability and MiWay's business insurance and broker-direct offerings, as well as the MiWay Life insurance initiative in conjunction with Sanlam Life.



Santam will maintain its focus on cost-efficiencies to improve the management expense ratio over the medium term.



The investment market is likely to remain uncertain. The higher interest rate environment will result in increased interest income for the group but higher volatility is expected on interest-bearing instruments. The increased exposure to non-rand-denominated business further increases foreign exchange volatility.



23-Aug-2016
(Official Notice)
Santam and the shareholders of RMB-SI Investments (Pty) Ltd. ("RMB-SI") have reached agreement in terms of which Santam will acquire 100% of the issued share capital of RMB-SI (the Transaction).



RMB-SI has over the years pioneered an innovative specialist insurance structuring business, offering its partners and clients individually designed and innovative insurance solutions. Santam believes that this acquisition would be a good strategic fit and that Santam is well positioned to provide a platform for future growth for the RMB-SI business. RMB-SI owns 22.4% of the issued share capital of Truffle Capital (Pty) Ltd. (Truffle). Truffle is excluded from the scope of the Transaction.



The conclusion of the Transaction is subject to regulatory approvals by the Financial Services Board and the competition authorities in South Africa, as well as the relevant regulatory authorities in Mauritius and Ireland. The Transaction is being concluded at market-related terms and conditions.
16-Aug-2016
(Official Notice)
Shareholders are advised that Santam expects its headline earnings per share (HEPS) and earnings per share (EPS) for the six months ended 30 June 2016 to be between 26% to 31% below those reported for the comparative period in 2015. HEPS is expected to be between 612 cps and 656 cps (2015: 887 cps), while EPS is expected to be between 600 cps and 644 cps (2015: 870 cps). The decrease in HEPS and EPS has been driven by a normalisation of the net underwriting results, compared to the exceptional performance of 2015, as well as significantly lower investment returns.



The underwriting results held up well in a challenging environment, but were negatively influenced by a few large corporate property claims and a decline in Crop business profits from their high levels of 2015, driven by drought-related claims. The net commission ratio also increased following lower reinsurance commission earned on specialist business lines and higher commission rates on business from outside South Africa. The net underwriting margin is however still expected to be within the long term target range of 4% to 8%.



The South African investment portfolio performed in line with the market. Foreign currency exchange losses had a negative impact on investment returns following the relative strengthening of the Rand compared to December 2015. In addition the value of the Sanlam Emerging Markets (SEM) general insurance businesses portfolio showed negative unrealised fair value movements following tough trading conditions in certain emerging markets.



The financial information on which this Trading Statement is based has not been reviewed or reported on by Santam?s external auditors. Santam will release its reviewed interim results for the six months ended 30 June 2016 on 31 August 2016.
03-Jun-2016
(Official Notice)
Santam shareholders are advised that at the annual general meeting of Santam held on 1 June 2016 all the ordinary and special resolutions were passed by the requisite majority of votes.
02-Jun-2016
(Official Notice)
The board of directors of Santam Ltd ("the board") hereby notifies its shareholders that Mr Malcolm Dunn (?Malcolm?) retired as Non-Executive Director with effect from 1 June 2016 in terms of the provisions of the company?s Memorandum of Incorporation relating to the retirement age of directors. Malcolm has served on the board since April 2010 and also served as Chairman of the Audit Committee and Risk Committee. The board has elected Machiel Reyneke as the Chairman of the Audit Committee and Risk Committee with effect from 1 June 2016.
01-Jun-2016
(Official Notice)
24-May-2016
(Official Notice)
The board of directors of Santam Ltd ("the Board") hereby notifies its shareholders that Mr Clement Burns Booth will resign as non-executive director with effect from 30 May 2016. Mr Booth will continue to support the Santam Group with various projects.
01-Apr-2016
(Official Notice)
Shareholders are advised that the company`s annual integrated report and summary consolidated financial statements for the year ended 31 December 2015 were posted to shareholders on 31 March 2016 and contain no modifications to the audited results which were published on 2 March 2016. PricewaterhouseCoopers Inc audited the results and the annual financial statements of Santam and their reports are available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held at 14h00 on Wednesday 1 June 2016, at Santam Head Office, 1 Sportica Crescent, Tygervalley, Bellville, Cape Town, to transact business as stated in the notice of the annual general meeting.





03-Mar-2016
(Official Notice)
The Board of Directors of Santam Ltd. hereby announces that Ms Yaganthrie Ramiah ceases to be an Executive Director of Santam from 2 March 2016 and will continue to serve on the Board as a Non-Executive Director.

02-Mar-2016
(C)
16-Feb-2016
(Official Notice)
Shareholders are advised that Santam expects its headline earnings per share (HEPS) for the year ended 31 December 2015 to be between 25% (1 808 cents) to 30% (1 880 cents) above those reported for the prior period (1 446 cents). Earnings per share (EPS) for the year ended 31 December 2015 is expected to be between 48% (2 045 cents) to 53% (2 114 cents) above those reported for the prior period (1 382 cents). The increase in HEPS and EPS has been driven by significant improvements in both insurance and investment results compared to 2014. EPS was also positively impacted by the profit on the sale of Santam?s 33.6% shareholding in Credit Guarantee Insurance Corporation of Africa Ltd in October 2015.



The group?s solvency margin as at 31 December 2015 is expected to be above the upper end of the target range of 35% to 45% of net premiums. A capital review is being performed, taking into account the required solvency range in the light of changing regulatory requirements and potential acquisitions.



The boards of directors of Santam and Sanlam Ltd. (Sanlam) announced on 24 November 2015 the conclusion of agreements, whereby Sanlam?s wholly owned subsidiary, Sanlam Emerging Markets (Pty) Ltd. (SEM), and Santam will jointly acquire an effective 30% interest in Saham Finances, the insurance arm of the Saham Group incorporated in Morocco, through a special purpose vehicle held jointly by SEM (75%) and Santam (25%), for a total cash consideration of USD 375 million. The transaction is subject to regulatory approval. Santam?s share of the transaction consideration of USD94 million will be funded from internal cash resources. Santam acquired sufficient foreign currency in addition to existing dollar assets to cover the purchase consideration before the transaction was concluded, effectively locking in the exchange rate of the transaction on the date of the announcement.



Santam will release its audited results for the year ended 31 December 2015 on 2 March 2016.
25-Nov-2015
(Official Notice)
24-Nov-2015
(Official Notice)
17-Nov-2015
(Official Notice)
The board of directors of Santam advised noteholders that Santam has appointed FirstRand Ltd., acting through its Rand Merchant Bank division as Debt Sponsor to the Company, replacing Investec Bank Ltd., with effect from 17 November 2015.
29-Oct-2015
(Official Notice)
Further to the SENS announcement published on 30 September 2015, regarding the partial disposal of Santam Ltd.?s (?Santam?) shareholding in Indwe Broker Holdings (Pty) Ltd. (?Indwe?) (?the proposed transaction?), the following is hereby announced:



Indwe

Indwe is one of the largest independent brokers in South Africa that provides personal insurance, business insurance and specialist risk consulting services to personal, commercial and corporate clients.



Rationale for the proposed transaction

The proposed transaction, which is subject to regulatory approval, will establish Indwe as a leading black controlled insurance transaction brokerage firm in South Africa with direct ties to Sanlam, further improving the distribution and expansion opportunities for it business both in South Africa and in Africa



Salient terms of the proposed transaction

51% of Indwe will be acquired by Ubuntu-Botho Investments (Pty) Ltd. (?UBI?), through its wholly owned subsidiary African Rainbow Capital (Pty) Ltd.; Sanlam Ltd. (?Sanlam?) will acquire 25% of Indwe; Santam, via its wholly owned subsidiary Swanvest 120 ((Pty)) Ltd. will retain 24%.



The purchase price for the sale shares, payable in cash, is based on a valuation attributable to 100% of the ordinary issued shares in Indwe of R265 000 000 and equates to a purchase price of the sale shares of R201 400 000. Excess cash in the business will be declared as a dividend to Santam prior to the effective date of the transaction;



The cash proceeds of the sale, once received in cash will be managed in Santam?s investment portfolios backing its capital funds.



Conditions precedent

The transaction is subject to a number of conditions precedent, including, inter alia, regulatory approval and the renegotiation of various licences and service level agreements.



Small related party transaction

Sanlam is a material shareholder in Santam in terms of the JSE listings requirements. BDO Corporate Finance (Pty) Ltd., as the independent professional expert, has confirmed that the disposal is fair and their fairness opinion is available for inspection at Santam?s registered office for a period of 28 days from the date of this announcement
30-Sep-2015
(Official Notice)
Santam, Ubuntu-Botho Investments (Pty) Ltd. (?UBI?) and Sanlam Ltd. (?Sanlam?) have reached agreement in terms of which Santam will sell its controlling stake in independent brokerage firm Indwe Broker Holdings (Pty) Ltd. (?Indwe?) to UBI and Sanlam. The transaction is based on a valuation for Indwe of R265 million and will see UBI acquiring 51% of the Indwe shareholding (through its wholly owned subsidiary African Rainbow Capital (Pty) Ltd.) while Sanlam will acquire 25%. Santam will retain 24% of Indwe. The transaction is still subject to regulatory approval.
28-Aug-2015
(Official Notice)
The interim results of Santam for the six months ended 30 June 2015 are available for inspection at the registered office of the Issuer, as well as on the Issuer?s website, www.santam.co.za.
28-Aug-2015
(Official Notice)
The board of directors of Santam ("the board") notified its shareholders that Dr Johan van Zyl (?Johan?) will resign as Non-Executive Director of Santam with effect from 1 September 2015.
26-Aug-2015
(C)
Net income for the interim period increased 8% to R10.4 billion (R9.7 billion). Results from operating activities rose 13% to R1.4 billion (R1.3 billion). Profit attributable to equity holders grew to R995 million (R911 million). Furthermore, headline earnings per share were higher at 887 cents per share (799 cents per share).



Declaration of dividend (Number 123)

Notice is hereby given that the board has declared a gross interim dividend of 288 cents per share (262 cents per share).



Prospects

Trading conditions in the South African insurance industry remain very competitive in a low-growth economic environment.



The rand weakened significantly against the US dollar since January 2015, which is expected to impact negatively on motor claims costs. Santam continues to focus on the optimisation of the claims and procurement value chains to increase efficiency and counter the impact of the weakening rand.



The group's focus will be to maintain its growth momentum, increasing its international diversification and the development of the SEM general insurance businesses. Santam has intensified its focus on cost-efficiencies to improve the management expense ratio over the medium term. Good progress has been made with the implementation of the new underwriting and administration platform in the Santam Commercial and Personal intermediated business, which will enable improved underwriting capabilities. MiWay will continue focusing on growing its retail client base, its newly launched commercial offering and direct life insurance initiative in conjunction with Sanlam Life. International diversification will remain a focus area for Santam Specialist and Santam Re.



The investment market is likely to remain uncertain.
06-Aug-2015
(Official Notice)
Santam and Mutual - Federal Insurance Company Ltd. (?M-F?) have reached agreement in terms of which Santam will sell its current 33.6% equity interest in Credit Guarantee Insurance Corporation of Africa Ltd. for an amount of circa R600 million to M-F (?the Transaction?). The Transaction is still subject to regulatory approval.
24-Jun-2015
(Official Notice)
Santam shareholders are referred to the announcement published on SENS on 25 May 2015, regarding the posting of a circular (?Circular?) including a notice of general meeting (?General Meeting?) of Santam Shareholders and are hereby advised that at the General Meeting held on Wednesday, 24 June 2015, the ordinary and special resolution contained in the notice of General Meeting, were passed by the requisite majority of votes of Santam Shareholders present in person or represented by proxy at the General Meeting.



Furthermore, Santam Shareholders are advised that the Registrar of Short-term Insurance in terms of section 23 of the Short-term Insurance Act, 1998 (Act No. 53 of 1998), as amended, has approved the Specific Repurchase without any conditions. All the conditions precedent to the Specific Repurchase have therefore been fulfilled and the Specific Repurchase is now unconditional. The Repurchase Shares will accordingly be delisted on or about 1 July 2015.
02-Jun-2015
(Official Notice)
Shareholders are advised of the following change to the board of directors:



Appointment

Mr Clement Burns Booth has been appointed to the Santam board as an Independent Non- Executive Director with effect from 1 July 2015.



02-Jun-2015
(Official Notice)
Santam shareholders are advised that at the annual general meeting of Santam held on 1 June all the ordinary and special resolutions were passed by the requisite majority of votes.



The company?s total number of shares in issue eligible to vote is 119 346 417 and the total number of shares represented in person or by proxy at the meeting was 96 691 636, representing 81.02% of the eligible shares.
01-Jun-2015
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the business environment for the four month period ended 30 April 2015.



The Group achieved acceptable underwriting results and premium growth in a tough general economic climate. Underwriting conditions remain challenging in South Africa with continued pressure on claims costs.



The Santam Commercial and Personal business delivered satisfactory underwriting results despite significant hail claims in Pietermaritzburg in February 2015. The Santam Specialist business showed good resilience in competitive market conditions, with a few large corporate property claims reducing the underwriting performance. Following the drought in the central parts of the country, the results of the crop insurance business were significantly lower compared to the same period in 2014. MiWay continued to report strong growth and acceptable loss ratios.



Gross written premium growth slowed down compared to the prior period, reflecting the impact of competitive market conditions and the continued focus on underwriting profitability.



The Group?s investment performance was in line with the market, showing a significant increase compared to the same period in 2014. The return on insurance funds was in line with the prior period.



Headline earnings continue to be susceptible to the inherent volatility of underwriting and investment activities.



At 30 April 2015 the group?s solvency margin was at the upper end of the target range of 35% to 45%. Santam recently announced a proposed specific repurchase of 4,2 million Santam shares for R800 million as part of the unwinding of the Santam broad-based black economic empowerment scheme (BBBEE scheme) (refer SENS announcement dated 13 May 2015 ?Proposed specific repurchase and placement of Santam shares as part of the BBBEE scheme unwind?). It is anticipated that the group solvency margin will be around the middle of the target range following the repurchase. The unwinding of the BBBEE scheme will result in only a marginal dilution of Santam?s black ownership, which remains a key priority for the Group.



The next set of results will be the interim results for the six month period ending 30 June 2015 to be published on SENS on 26 August 2015.
25-May-2015
(Official Notice)
Santam shareholders (?Santam Shareholders?) are referred to the announcement released by Santam on the stock exchange news service (?SENS?) operated by the JSE on 13 May 2015 regarding the specific repurchase of 4 215 000 Santam ordinary shares (?Repurchase Shares?) by Santam from Central Plaza Investments 112 (Pty) Ltd. (?Specific Repurchase?). Santam Shareholders are hereby advised that a circular (?Circular?) containing, inter alia, details of the Specific Repurchase and actions required by Santam Shareholders, a notice of the general meeting (?General Meeting?) and a form of proxy, has been posted to Santam Shareholders on 25 May 2015.



Notice of general meeting

The General Meeting of Santam Shareholders will be held in the auditorium on the ground floor of the Santam head office at 1 Sportica Crescent, Tyger Valley, Bellville, Cape Town on Wednesday, 24 June 2015 at 09:30 a.m. to consider and, if deemed fit, pass, with or without modification, the special and ordinary resolutions required to implement the Specific Repurchase. The important dates and times in relation to the General Meeting are set out below:

* Notice record date, being the date on which a Santam Shareholder must be registered in the register in order to be eligible to receive the notice of General Meeting on Friday, 15 May

* Circular posted to Santam Shareholders and notice convening the General Meeting released on SENS on Monday, 25 May

* Last day to trade Santam ordinary shares in order to be recorded in the register to vote at the General Meeting on Thursday, 11 June

* General Meeting record date, being the date on which a Santam Shareholder must be registered in the register in order to be eligible to attend and participate in the General Meeting and to vote thereat, by close of trade on Friday, 19 June

* Form of proxy in respect of the General Meeting to be lodged for administrative purposes, by 09:30 a.m. on Monday, 22 June

* General Meeting held at 09:30 a.m. on Wednesday, 24 June

* Results of the General Meeting published on SENS on Wednesday, 24 June

* Delisting of the Repurchase Shares on or about Wednesday, 1 July.
14-May-2015
(Official Notice)
Shareholders are referred to the announcement released by Santam on SENS operated by the JSE on Wednesday, 13 May 2015 regarding, inter alia, a book build offering of shares in Santam by Central Plaza (Book Build).



Santam is pleased to announce that Central Plaza has successfully priced and closed the Book Build. The Book Build was oversubscribed and 2 700 000 Santam ordinary shares held by Central Plaza (Book Build Shares) were placed with institutional investors at a price of R215.00 per Book Build Share (Book Build Price). The Book Build Price represents a discount of 1.4% to the closing price of Santam ordinary shares on Wednesday, 13 May 2015. Santam and Central Plaza would like to thank all investors that submitted bids and participated in the Book Build.
13-May-2015
(Official Notice)
17-Apr-2015
(Official Notice)
The Annual Financial Statements of Santam for the year ended 31 December 2014 are available for inspection at the registered office of the Issuer, as well as on the Issuer?s website, www.santam.co.za.
01-Apr-2015
(Official Notice)
Shareholders and Noteholders are advised that Santam has appointed Investec Bank Ltd. to act as its Debt Sponsor for its outstanding bond issuance and any other subsequent issuances.
31-Mar-2015
(Official Notice)
Shareholders are advised that the company`s annual financial statements for the year ended 31 December 2014 were posted to shareholders on 30 March 2015 and contain no modifications to the audited results which were published on 2 March 2015. PricewaterhouseCoopers Inc audited the results and the annual financial statements of Santam and their reports are available for inspection at the registered offices of the company. Notice is hereby given that the annual general meeting of the company will be held at 9h30 on Monday 1 June 2015, at Santam Head Office, 1 Sportica Crescent, Tygervalley, Bellville, Cape Town, to transact business as stated in the notice of the annual general meeting.
03-Mar-2015
(Media Comment)
Business Day highlighted that Santam says its direct insurance company, MiWay, will expand into the life insurance segment this year to diversify its business and earnings growth. Santam is strengthening its direct insurance business and still sees room to grow its motor insurance segment in the direct space. Its expansion to life insurance will see the business join direct insurance players such OUTsurance. Santam also added that it was focused on growing in emerging markets in Southeast Asia and the rest of Africa.
02-Mar-2015
(C)
Gross written premium for the year increased by 10% to R22.7 billion (2013: R20.6 billion). Results from operating activities soared by 52% to R2.4 billion (2013: R1.5 billion), while profit attributable to equity holders of the company jumped by 41% to R1.6 billion (2013: R1.1 billion). Furthermore, headline earnings per share grew to 1 446cps (2013: 1 033cps).



Dividend

Notice was given that the board has declared a final dividend of 480cps (2013: 433cps).



Prospects

Trading conditions in the South African insurance industry remain very competitive despite some hardening of insurance premium rates in certain segments following the poor underwriting results reported by industry participants in 2012 and 2013. GDP growth expectations of around 2% for 2015 will negatively impact growth prospects. The weak rand exchange rate against other currencies negatively impacts claims cost and will require continued focus by Santam to optimise the claims value chain to increase efficiency.



Santam?s focus will be to maintain its growth momentum with underwriting margins within the long-term target range of 4% to 6% in each of its businesses. Santam will continue focusing on implementing their new underwriting and administrative platform, as well as risk management initiatives to further improve the underwriting margin in the Santam Commercial and Personal intermediated business. MiWay will continue focusing on growing its retail client base, the investment in the new offering for emerging business and the launch of a direct life insurance initiative. International diversification will be a focus area again for 2015 through our SEM collaboration and opportunities that this presents for Santam Specialist and Santam Re.



Santam will also place continued focus on risk mitigation initiatives at local government level that have the potential to reduce their risk on the ground. The investment market is likely to remain uncertain.
10-Feb-2015
(Official Notice)
Shareholders are advised that Santam expects its earnings per share (EPS) as well as its headline earnings per share (HEPS) for the year ended 31 December 2014 to be between 35% (EPS 1 326 cents; HEPS 1 395 cents) to 45% (EPS 1 424 cents; HEPS 1 498 cents) above those reported for the prior period (EPS 982 cents; HEPS 1 033 cents). The increase in HEPS and EPS has been driven by a significant improvement in underwriting results compared to the comparative period in 2013.



The improvement in underwriting results was influenced by improved contributions from all business units including a substantial turnaround in the crop insurance business. In addition, the absence of hail related catastrophe events during the 4th quarter resulted in a better underwriting performance during the 2nd half of the financial year compared to 2013. However, underwriting conditions remain challenging in South Africa, with continued pressure on claims costs, low GDP growth and a very competitive landscape.



The Group?s net underwriting margin is expected to be above 8%, exceeding the long term target range of 4% to 6%. The Group achieved satisfactory growth in gross written premiums across all businesses. The Group?s investment performance was in line with the market, however investment returns were lower than 2013.



The group?s solvency margin as at 31 December 2014 is expected to be marginally above the upper end of the targeted range of 35% to 45% of net premiums. Given pending changes to regulatory capital requirements as well as potential business opportunities Santam is appropriately capitalised. Santam will release its audited interim results for the year ended 31 December 2014 on 2 March 2015.
19-Dec-2014
(Official Notice)
Appointment of Independent Non-Executive Director



In compliance with paragraph 3.59(a) of the Listings Requirements of the JSE Ltd., shareholders are hereby advised of the appointment of Ms Tantaswa Fubu as independent non-executive director and member of the Audit committee and Risk Committee with effect from 1 January 2015.

Tantaswa is a chartered accountant and holds various other academic qualifications. Tantaswa was the Executive Head of People and Transformation at KPMG and has served on various boards. She is the national president of the Association for the Advancement of Black Accountants of Southern Africa.



We look forward to Tantaswa?s contribution to the Audit and Risk Committees and the board.

27-Nov-2014
(Official Notice)
The board of directors of Santam Ltd. announced the appointment of Liz? Lambrechts to succeed Ian Kirk as the Chief Executive from 1 January 2015.
26-Nov-2014
(Official Notice)
Operational update to shareholders following the board meeting held on 26 November 2014



This serves as a general communication to Santam shareholders with regards to the business environment for the ten month period ended 31 October 2014.



The Santam Group's net underwriting margin remained above the long term target range of 4% to 6%, although slightly lower than the 7.4% net underwriting margin reported for the six month period to June 2014. Underwriting conditions remain challenging, with continued pressure on claims costs and the tough general economic climate impacting on growth.



The Santam Commercial and Specialist business delivered a solid underwriting performance during the third quarter due to the continued positive impact of underwriting corrective actions and limited weather related claims. The October results have been negatively impacted by a small number of commercial fires. The Santam Specialist business showed resilience in competitive market conditions. MiWay continued to report growth together with acceptable loss ratios. Santam Re made a positive contribution to the Group underwriting results.



The Group achieved satisfactory growth in gross written premiums across all businesses relative to industry growth.



The investment portfolio was impacted by the negative equity market movements experienced during September and October.



Headline earnings continue to be susceptible to the inherent volatility of underwriting and investment activities.



The group's solvency margin remains close to the upper end of the target range of 35% to 45%.



Following the appointment of Ian Kirk as Deputy CEO of Sanlam, effective January 2015, the Board is making good progress with the Santam CEO succession process and expects to make an announcement shortly.



The next set of results will be the annual results year for the year ending 31 December 2014 to be released on SENS on 2 March 2015.

09-Sep-2014
(Official Notice)
Shareholders were advised that the Chief Executive Officer, Ian Kirk, will be appointed as Sanlam Deputy Group Chief Executive with effect from 1 January 2015. The process to appoint a new Chief Executive Officer for Santam will commence shortly and an announcement will be made once this process has been concluded. Ian will remain as Chief Executive Officer at Santam until the succession process is finalised.



As the Deputy Group Chief Executive of Sanlam, Ian will be responsible for the operational business entities and will report to the Sanlam Group Chief Executive, Dr Johan van Zyl. The position of Sanlam Deputy Group Chief Executive is part of Sanlam's succession planning strategy and implementation of a smooth leadership transition. The Sanlam Board intends to appoint Ian as the Group Chief Executive when Van Zyl retires at the end of 2015.
27-Aug-2014
(C)
Gross written premium for the interim period grew to 7% to R10.5 billion (2013: R9.9 billion) whilst net income jumped 9% to R9.7 billion (2013: 8.9 billion). Profit attributable to equity holders grew 125% to R911 million (2013: R405 million). In addition headline earnings per share increased to 799cps (2013: 365cps).



Dividend

Notice is hereby given that the board has declared an interim dividend of 262cps.



Prospects

Trading conditions in the South African insurance industry remain tough despite some hardening of insurance premium rates following the poor underwriting results reported by industry participants in 2012 and 2013. Difficult economic conditions with low gross domestic product growth and higher interest rates are expected to have a negative impact on consumers.



Santam continues to manage premium increases selectively through our market and risk segmentation approach on policy renewal. We will also continue focusing on the implementation of various underwriting practices and risk management approaches to improve the underwriting margin in the traditional Santam intermediated business. We continue with our growth initiatives with a specific focus to achieve further international diversification in the Santam Specialist division and Santam Re.



Nominal interest rates are expected to increase further towards the end of the year, positively impacting return on insurance funds. The investment market is likely to remain uncertain.



There have been no material changes in the affairs or financial position of the company and its subsidiaries since the reporting date.
12-Aug-2014
(Official Notice)
Shareholders are advised that Santam expects its headline earnings per share (HEPS) for the six months ended 30 June 2014 to be between 115% to 125% above those reported for the prior period. Earnings per share (EPS) are expected to be between 120% and 130% above the June 2013 corresponding period. The increase in HEPS and EPS has been driven by a substantial improvement in underwriting results compared to the comparative period in 2013, together with an improvement in investment results.



As reported in our operational update to shareholders on 27 May 2014, the improvement in underwriting results was influenced by a turnaround in the crop insurance business compared to the significant losses recorded in 2013. Santam Specialist division also delivered strong underwriting results. MiWay improved on its 2013 performance in competitive market conditions whilst the Santam Re underwriting results improved following lower retrocession costs and corrective action on the South African portfolio. The Santam Commercial and Personal intermediated business benefited from the impact of corrective actions and segmented premium increases implemented since the first quarter of 2013.



The Group?s net underwriting margin is now above the long term target range of 4% to 6% influenced by the strong turnaround in crop insurance. Underwriting conditions however remain challenging in South Africa, with continued pressure on claims costs, low GDP growth and tough general economic conditions. The Group?s investment performance was in line with the market, other than for the negative impact of the hedge over equities which expired during the period. Positive fair value movements in Santam?s interest in the Sanlam Emerging Markets (SEM) general insurance businesses in Africa, India and South East Asia further enhanced the investment performance. The return on insurance funds showed an improvement compared to the prior period following the increase in interest rates in January 2014.



The group?s solvency margin as at 30 June 2014 is close to the upper end of the targeted range of 35% to 45%. The financial information on which this Trading Statement is based has not been reviewed or reported on by Santam?s external auditors. Santam will release its reviewed interim results for the six months ended 30 June 2014 on 27 August 2014.
25-Jun-2014
(Official Notice)
Santam has been advised by global ratings agency Standard - Poor's ("S-P") that, as a result of the rating agency's lowering of the Republic of South Africa's long-term foreign currency sovereign credit rating from BBB to BBB- on 13 June 2014, Santam's long-term counterparty credit and insurer financial strength rating has been adjusted from A- to BBB+, maintaining a rating of two notches above the sovereign rating. At the same time, S-P affirmed the 'zaAA+' South Africa national scale rating on Santam, leaving our local policyholders and note holders unaffected.



The revised rating is a reflection of S-P's view on South Africa and has not been driven by any change in the financial performance of Santam. S-P have also revised the indicative stand-alone credit profile of Santam upward by one notch to "A" following the revision of their assessment of Santam's enterprise risk management (ERM) to "strong" from "adequate with strong risk controls". This places their assessment of Santam's risk management capabilities in line with those of the world's leading insurers. Santam's long-term counterparty credit and insurer financial strength rating differential is however constrained at two notches by the local currency sovereign credit rating.



The financial fundamentals and strength of Santam remain robust and the business continues to grow through its diversification strategy. Alternative arrangements to support growth in territories outside of South Africa, in situations where this is dependent on Santam's S-P international scale rating, were put in place towards the end of 2013. In terms of these arrangements Santam has the facility to use an international insurer?s AA-rated licence for such business, if required.



As set out in the Santam operational update, published on 27 May 2014, Santam experienced improved underwriting results during the four month period to 30 April 2014 compared to the same period in 2013. The solvency margin remained comfortably within the target range of 35% to 45%.
27-May-2014
(Official Notice)
Shareholders are advised that all of the resolutions proposed in the notice to Shareholders incorporated in the Notice of Annual General Meeting, dated 26 February 2014, were passed by the requisite majority at the annual general meeting of the Company held at 09h30 on Tuesday, 27 May 2014.
27-May-2014
(Official Notice)
The group experienced improved underwriting results compared to the same period in 2013. However underwriting conditions remain challenging in South Africa with continued pressure on claims costs. Widespread flood related claims were experienced in the northern parts of the country, especially in Gauteng during March 2014.



The improvement in the underwriting results was influenced by a turnaround in the crop insurance business compared to the significant losses recorded in 2013. The Santam Commercial and Personal intermediated business benefited from the impact of corrective actions and segmented premium increases implemented since the first quarter of 2013. Santam Specialist division and MiWay also delivered strong underwriting results. Gross written premium growth was satisfactory considering the competitive environment, tough economic conditions and low GDP growth in South Africa.



The Group's investment performance was in line with the market, other than for the negative impact of the hedge over equities which expired during the period. The remaining hedge of R600 million expires during May 2014. The return on insurance funds showed a marginal improvement compared to the prior period following the increase in interest rates in January 2014.



Headline earnings continue to be susceptible to the inherent volatility of underwriting and investment activities. The group's solvency margin remains comfortably within the target range of 35% to 45%. The next set of results will be the interim results for the six month period ending 30 June 2014 to be published on SENS on 27 August 2014.
28-Mar-2014
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 31 December 2013 were posted to shareholders on 28 March 2014 and contain no modifications to the audited results which were published on 26 February 2014. PricewaterhouseCoopers Inc audited the results and the annual financial statements of Santam and their reports are available for inspection at the registered offices of the company.



AGM notice

Notice is given that the annual general meeting of the company will be held at 9h30 on Tuesday 27 May 2014, at Santam Head Office, 1 Sportica Crescent, Tygervalley, Bellville, Cape Town, to transact business as stated in the notice of the annual general meeting.
10-Mar-2014
(Official Notice)
Santam shareholders are advised that the Santam Integrated Report 2013, which incorporates the summary consolidated financial statements of the Santam Group for the year ended 31 December 2013, is available on the Santam website (http://www.santam.co.za). The audited summary consolidated financial statements of the Santam Group contained in the Santam Integrated Report 2013 contain no modifications to the audited financial results of the Santam Group for the year ended 31 December 2013 released on SENS on 26 February 2014. The summary consolidated financial statements of the Santam Group for the year ended 31 December 2013, which includes a notice of the Company's Annual General Meeting together with a form of proxy, will be distributed to shareholders by no later than 31 March 2014.
26-Feb-2014
(C)
Net income increased by 6% to R18.6 billion (R17.5 billion). Results of operating activities declined by 12% to R1.5 billion (R1.8 billion). Net attributable profit rose by 9% to R1.1 billion (R1 billion). Headline earnings per share grew to 1 033cps (995cps).



Dividend

A final gross ordinary dividend of 433cps has been declared.



Outlook

The reality of the upward movement in interest rates, the depreciating rand, increasing fuel, energy and food prices coupled with the need for us to increase premiums continues to make it a tough environment for the South African consumer and for the business.



The claims from weather-related events in 2013 reduced the group?s net underwriting margin by 2.5%. Rand pressure on the cost of motor vehicle repairs relative to premium increases further depressed underwriting margins with the result that Santam has not achieved the medium-term targeted net underwriting margin of 5% to 7% in 2013. As a group, our biggest challenge in the short term will therefore be to balance growth and profitability and return to the target margin. We expect sluggish economic growth for the next financial year and uncertain investment returns, driving even more focus on the improvement of underwriting margins.



The exchange rate will still be a critical factor in determining future performance - the impact of which can be mitigated by improved procurement practices and segregated premium increases and through our international expansion plans - particularly where we have partnered with SEM. Despite the financial strain on clients, we are confident that penetration and diversification in South Africa will continue growing the total market. In addition to our premium actions we also intend to intensify our approach to addressing multi-claimants, acting on policies with below minimum rates and reviewing the underwriting of poorer risks.
10-Feb-2014
(Media Comment)
Business Day reported that Sanlam and Santam are integrating offices in Sandton's financial district into one building. It is anticipated that the move will increase the group's visibility and likely lower costs related to taking up different offices. Sanlam CEO Johan van Zyl said the new building would enable the insurer to host its board meetings there and increasingly generate more activity in Johannesburg.
11-Dec-2013
(Official Notice)
27-Nov-2013
(Official Notice)
The Santam Group's net underwriting margin remains below the medium term target range of 5% to 7%. Growth in gross written premiums for the intermediated business remained under pressure as a result of competitive market conditions. The underwriting result improved considerably during the third quarter following reduced weather related claims and the positive impact of premium increases and corrective actions. The October results have been negatively impacted by commercial fires. The specialist classes continued to report acceptable results although at lower margins compared to the previous year. MiWay continued to report acceptable loss ratios while maintaining solid growth in premium income.



The investment portfolio performed in line with the positive market movements experienced during the second half of the year. Fair value movements on equities were however limited due to the down-side protection taken out over equities to the value of R2 billion during March 2013. The group's solvency margin remained comfortably within the target range of 35% to 45%.



Since October 2013, the Group's results were negatively impacted by adverse weather conditions in November; mainly hail related claims in the East Rand and flooding in the Western and Southern Cape. Due to the nature of Santam's business, headline earnings are susceptible to the inherent volatility of underwriting and investment activities of the Group. The next set of results will be the final results for 2013 to be published on 26 February 2014.
28-Aug-2013
(C)
Gross written premium for the interim period grew to 9% to R9.9 billion (2012: R9.1 billion) whilst net income jumped 5% to R9 billion (2012: 8.5 billion). Profit attributable to equity holders fell 15% to R405 million (2012: R475 million). In addition headline earnings per share shrunk to 365cps (2012: 419cps).



Dividend

Notice is hereby given that the board has declared an interim dividend of 242cps.



Prospects

Real GDP growth is expected to be as low as 2% in 2013, only picking up somewhat to 3% in 2014. Headline CPI is expected to peak at between 6.5% and 7% in the third quarter of the year before slowing to just below 6% at year-end under pressure of the weak rand as well as petrol and food price increases. Since our 2012 results announcement, a hardening of insurance premium rates was experienced in the market and is expected to continue in the second half of 2013 which should have a positive impact on underwriting results, assuming that the adverse weather conditions experienced in the fourth quarter of 2012 do not recur. Santam manages premium increases selectively through our market and risk segmentation approach largely on policy renewal. We will continue to focus on the implementation of various underwriting practices and risk management approaches to improve the underwriting margin in the traditional Santam intermediated business. In addition, our growth through diversification strategy continues to enhance insurance premium growth in high-growth segments and territories. Nominal interest rates are expected to remain at current levels during the remainder of 2013. The investment market is likely to remain uncertain in light of global negative sentiment towards emerging markets, including South Africa.

29-May-2013
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the business environment for the four month period ended 30 April 2013. The group experienced difficult underwriting conditions during the period severely impacting the underwriting result, and causing a substantially lower insurance result relative to the same period in 2012.

*The profitability in the traditional Santam intermediated business remained under pressure. A continuing high level of claims frequency and severity was aggravated by flood related claims in Limpopo during January 2013 and an increase in fire claims in the commercial business line. Pro-active steps have been taken across the operations, underwriting and claims functions and segmented premium increases are being implemented to assist the underwriting performance.

*The crop insurance business was adversely impacted by hail damage to summer crops in the Eastern region of South Africa and drought insurance input claims in the Central and Western regions, resulting in a significant underwriting loss in this business.

*The Specialist Business units, MiWay and Santam Re delivered good underwriting results.



Gross written premium growth was satisfactory considering continued low industry growth.



The group's investment performance was marginally ahead of the market for the period. Santam reduced its effective equity exposure by disposing of equities of R0.5 billion and taking downside protection on a further R2 billion to date. With interest rates remaining low, the return on insurance funds was at a comparable level to 2012. Headline earnings continue to be susceptible to the inherent volatility of underwriting and investment activities. The group's solvency margin remains comfortably within the target range of 35% to 45%. The next set of results will be the interim results for the six months ending 30 June 2013 to be published on SENS on 28 August 2013.
29-May-2013
(Official Notice)
Shareholders were advised that all of the resolutions proposed in the notice to shareholders incorporated in the Notice of Annual General Meeting, dated 27 February 2013, were passed by the requisite majority at the annual general meeting of the company held at 09h30 on Wednesday, 29 May 2013.
10-Apr-2013
(Official Notice)
The board of directors of Santam Ltd ("the board") hereby notifies its shareholders that Mr BTPKM Gamedze will no longer be a member of the company's audit committee. Mr Gamedze will continue, in a Non-Executive capacity, to serve on Santam's Risk Committee and Social, Ethics and Sustainability Committee.
28-Mar-2013
(Official Notice)
South Africa's leading short term insurer, Santam, announced the appointment of Mr Grant Gelink as its chairperson with effect from 30 May 2013, replacing Mr Vusi Khanyile who will step down from the board on 29 May 2013.
28-Mar-2013
(Official Notice)
The board of directors of Santam notified its shareholders that Mr Vusumuzi Phillip Khanyile will resign as Chairman and Non-Executive Director with effect from 29 May 2013.
28-Mar-2013
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 31 December 2012 were posted to shareholders on 28 March 2013 and contain no modifications to the audited results which were published on 27 February 2013.



Notice of AGM

Notice is given that the annual general meeting of the company will be held at 9h30 on 29 May 2013, at Santam Head Office, 1 Sportica Crescent, Tygervalley, Bellville, Cape Town, to transact business as stated in the notice of the annual general meeting.
27-Feb-2013
(C)
Gross written premium jumped up 9.5% to R19.4 billion (R17.7 billion) whilst results from operating activities slumped to R1.8 billion (R1.9 billion). Profit attributable to equity holders plummeted to R1.0 billion (R1.4 billion). Furthermore, headline earnings per share took a dip to 995 cents per share (1 216 cents per share).



Dividend

Notice was given that the board has declared a final gross dividend of 410 cents per share (355 cents per share).



Prospects

It is expected that South Africa's GDP growth will be less than 3% and headline inflation will average below 6% for the 2013 financial year. Short-term insurance industry growth for the 2012 year was very subdued, mainly due to soft premium rates in the market. Following these soft market conditions and the increase in claims frequency and cost during 2012, a hardening of insurance rates is expected in 2013. This should improve average premium levels. Santam is positioned to manage increases selectively through our market and risk segmentation approach across the group. In addition, Santam's growth through diversification strategy positions the group well to leverage for growth in high-growth segments and territories.



The weakening of the rand during 2012 and the early part of 2013 will put further upwards pressure on claims cost, most notably on the cost of motor vehicle repairs due to the increased cost of imported vehicle parts. Santam is optimistic that its continued efforts to drive efficiency in the value chain and its overall focus on cost efficiency in the group will offset some of the impact of the upwards cost pressure.



Nominal interest rates are expected to remain at current levels during 2013. This will put continued pressure on the return on insurance funds in 2013.



Uncertainty remains in the investment markets due to the slow global recovery and a number of economic challenges in South Africa.
12-Feb-2013
(Official Notice)
Shareholders are advised that Santam expects its headline earnings per share (HEPS) for the year ended 31 December 2012 to be 15% to 20% below those reported for the prior period. Earnings per share (EPS) are expected to be 25% to 30% below the 2011 corresponding results. The decrease in HEPS and EPS is due to a decrease in underwriting results and an increase in the taxation charge, off-set by an increase in the investment results. The difference between HEPS and EPS is due to impairment provisions.



In the operational update to shareholders published on 20 December 2012 the Group indicated that the net underwriting margin was below the 5% to 7% medium term target range, negatively impacted by the adverse weather conditions in Gauteng and the Eastern Cape in the last quarter of 2012 and by the extensive fires in St Francis Bay in November 2012.



Earnings were further impacted by a substantial increase in the taxation charge due to Secondary Tax on Companies on the special dividend paid in March 2012 as well as the effect of the increase in the Capital Gains Tax inclusion rate on deferred taxation, as reported on in the June 2012 results. Performance of the investment portfolio was broadly in line with the equity markets resulting in significantly higher returns from the portfolio, compared to 2011.



The group's solvency margin as at 31 December 2012 is expected to be within the targeted range of 35% to 45%. Santam will release its annual audited results for the year ended 31 December 2012 on 27 February 2013.
20-Dec-2012
(Official Notice)
In the operational update to shareholders published on 28 November 2012 the group indicated that the underwriting result was negatively impacted by the adverse weather conditions in Gauteng and the Eastern Cape in October 2012 and by the extensive fires in St Francis Bay in November 2012. The operational update also noted that the net underwriting margin was at the lower end of the medium term target range of 5% to 7%.



Following increases in the claim estimates which relate to these events and the continuing adverse weather conditions across the country, the net underwriting margin is now below the medium term target range.
28-Nov-2012
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the business environment for the year to date.



Despite the continued soft market conditions, the Santam group achieved satisfactory growth and underwriting profitability during the third quarter of the year. The underwriting result was however negatively impacted by the adverse weather conditions in Gauteng and the Eastern Cape in October 2012 and by the extensive fires in St Francis Bay in November 2012. These claims are not expected to reach a level that will attract significant relief from catastrophe reinsurance. The specialist classes, MiWay and Santam Re continued to perform satisfactorily as reported on for the six months to 30 June 2012. The net underwriting margin is now at the lower end of the medium term target range of 5% to 7%.



The investment portfolio performed in line with the positive market movements experienced during the third quarter of the year.



The group's solvency margin remains comfortably within the target range of 35% to 45%.



Due to the nature of Santam's business, headline earnings are susceptible to the inherent volatility of underwriting and investment activities of the group. As reported for the six months ended 30 June 2012 headline earnings were furthermore impacted by the tax adjustments for Capital Gains Tax and Secondary Tax on Companies on the special dividend.



The next set of results will be the final results for 2012 to be published on 27 February 2013.
07-Sep-2012
(Official Notice)
Dr Yvonne Muthien has retired as a non-executive director with effect from 5 September 2012.
29-Aug-2012
(C)
Gross written premium for the interim period grew to 10% to R9.1 billion (2011: R8.2 billion) whilst net income jumped 12% to R8.5 billion (2011: 7.6 billion). Profit attributable to equity holders fell 29% to R475 million (2011: R670 million). In addition headline earnings per share shrunk to 419cps (2011: 593cps).



Dividend

The board declared an interim dividend of 230cps (2011: 200cps).



Prospects

It is expected that South Africa's GDP growth will be less than 3% in 2012. Headline inflation is expected to average below 6% for the year. Short-term insurance industry growth for the first half of the year was very subdued, mainly due to soft premium rates in the market.



It is expected that while competitive forces may suppress premium rates in the short term, drivers of premium rates, being frequency, average claims cost, and reinsurance cost, will inevitably result in a hardened premium rate environment. Santam will continue to apply selective increases through our market and risk segmentation approach. The weaker rand is also expected to apply upward pressure on claims cost, most notably on the cost of motor vehicle repairs due to the increased cost of imported vehicle parts. The company's continued efforts to reduce claims cost are expected to absorb some of the impact of the upward cost pressure. The underwriting margin for the second half of the year is expected to remain at the upper end of the target range, assuming the absence of large catastrophic events.



Nominal interest rates are now expected to remain at low levels well into 2013. Therefore, interest received is not expected to be higher in the second half of the year, implying a flat return on insurance funds for 2012 compared to 2011. It is expected that uncertainty and volatility will remain in the investment markets due to the impact of the instability in Europe.
14-Aug-2012
(Official Notice)
Shareholders are advised that Santam expects its earnings as well as headline earnings per share for the six months ended 30 June 2012 to be 25% to 35% below those reported for the prior corresponding period. The lower earnings are due to the impact of a substantial increase in the taxation charge due to Secondary Tax on Companies on the special dividend paid in March as well as the effect of the increase in the Capital Gains Tax inclusion rate on deferred taxation. Profit before tax is expected to be marginally higher than the prior reporting period. As reported in the operational update on 30 May 2012, the underwriting result was below the excellent margin achieved in 2011, but remained within the target range of 5% to 7%. Despite continued pressure on premium rates in a soft market, gross written premium growth was very satisfactory.



Performance of the investment portfolio was in line with the equity market movements and therefore considerably ahead of 2011. Interest received was lower than for the comparative period due to the lower rates available in the market while dividends received increased. The group's solvency margin remains comfortably within the target range of 35% to 45% after the special dividend of R8.50 per share paid in March. Santam will release its reviewed interim results for the six month ended 30 June 2012 on 29 August 2012.
04-Jun-2012
(Official Notice)
Mr Hendrik David Nel (Hennie) has been appointed as chief financial officer (CFO) and to the Santam board as an executive director with effect from 17 September 2012. Machiel Johannes Reyneke will continue to serve as CFO and financial director until the effective date of Hennie's appointment. Subsequent to Hennie's appointment as CFO and director, Machiel will assume a non-executive role on the Santam board and will continue to serve as a member of the risk committee.
01-Jun-2012
(Official Notice)
Mr Grant Glenn Gelink has been appointed to the Santam board as an independent non-executive director with effect from 1 June 2012.
30-May-2012
(Official Notice)
Shareholders are advised that all of the resolutions proposed in the notice to shareholders incorporated in the notice of annual general meeting, dated 28 February 2012, were passed by the requisite majority at the annual general meeting of the company held at 09h30 on Wednesday, 30 May 2012.
30-May-2012
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the business environment for the period to the end of April 2012. In line with expectations, the underwriting result for the four months was below the excellent margin achieved in 2011, but remained within the target range. Agriculture, Specialist business, MiWay and Santam Re all performed above expectation but the overall business was adversely impacted by significant flood-related claims in January 2012. Despite continued pressure on premium rates, gross written premium growth was very satisfactory.



Performance of the investment portfolio was in line with the equity market movements and therefore considerably ahead of 2011, while interest and dividends received were on par with the comparative period. The group's solvency margin remains comfortably within the target range of 35% to 45%. Headline earnings were impacted by the Secondary Tax on Companies on the special dividend paid in March and continue to be susceptible to the inherent volatility of underwriting and investment activities. The next set of results will be the interim results for 2012 to be published on 29 August 2012.
16-Apr-2012
(Media Comment)
According to Business Day, Santam said on Friday it planned to grow its already dominant market share in SA and pursue selective growth internationally. CEO Ian Kirk said Santam also wanted to achieve an underwriting margin of up to 7% beyond 2014 and deliver sustained earnings growth, despite uncertain global economic conditions. Santam, which is majority owned by JSE-listed life insurer Sanlam, commands a market share of 23% in the local short-term insurance market, with Old Mutual owned Mutual - Federal taking second place and Zurich third. Mr Kirk said in Santam's annual report that while the group had a strong balance sheet to pursue growth, this would be achieved in an uncertain domestic and global economic environment. "However, with our diversified business, strong leadership position and the continued success of our strategic initiatives to improve our ability to price optimally, manage risks and ensure claims efficiency, we believe Santam is well positioned to ensure sustainability and outperform our peers," he said. He warned that at the end of the low end of the market, consumers who may have considered taking up short term insurance in phases of high economic growth were more likely to postpone such decisions. Mr Kirk said that in the short term the group would grow market share in SA, enhance the value of the Santam share price and continually increase the size, quality and diversification of its risk pool.





































30-Mar-2012
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 31 December 2011 were posted to shareholders on 30 March 2012 and contain no modifications to the audited results which were published on 28 February 2012.



Notice is hereby given that the annual general meeting of the company will be held at 9h30 on 30 May 2012, at Santam Head Office, 1 Sportica Crescent, Tygervalley, BelIville, Cape Town, to transact business as stated in the notice of the annual general meeting.
28-Feb-2012
(C)
Net income for the year ended 31 December 2011 increased by 4% to R15.8 billion (2010: R15.2 billion). Profit attributable to equity holders of the parent fell to R1.4 billion (2010: R1.8 billion). Furthermore, headline earnings per share weakened to 1 216cps (2010: 1 367cps).



Dividends

The board declared a final dividend of 355cps (2010: 325cps) and a special dividend of 850cps (2010: 500cps).



Prospects

It is expected that the South African economy will grow by somewhat less than the forecasted 3% worldwide growth in gross domestic product in 2012. Headline inflation is expected to average around 6% for 2012 which could lead to improved average premium levels. However, competition in the market will continue putting pressure on premium rates and prevent across-the-board premium increases. Santam is positioned to manage increases selectively through our market and risk segmentation approach.



The weakening of the rand during the course of 2011 is expected to put some upward pressure on claims cost, most notably on the cost of motor vehicle repairs due to the increased cost of imported vehicle parts. However, we are optimistic that our continued efforts to reduce claims cost would offset some of the impact of the upwards cost pressure. It is expected though that the underwriting margin in 2012 may be lower than the levels achieved in 2011. Nominal interest rates are expected to remain on current levels during 2012 if the rand remains around its current level. Therefore, interest received is not expected to be higher in 2012 implying a flat return on insurance funds for 2012 compared to 2011.



Uncertainty remains in the investment markets due to the impact of the instability in Europe. On the back of the assumption that the European economy will not deteriorate significantly but rather faces a very slow, long-term recovery, it is expected that investment markets should be more stable in 2012 compared to 2011.
14-Feb-2012
(Official Notice)
Santam delivered pleasing underwriting results for the financial year ended 31 December 2011 with all major business units continuing to perform well. The consolidated underwriting result ended marginally below the exceptional results achieved in 2010. A low frequency of large industrial accident and fire-related claims, no material natural catastrophe losses as well as excellent underwriting margins on the commercial motor book during this period contributed to a very good underwriting margin. Performance of the investment portfolio was broadly in line with the equity market movements resulting in significantly lower returns from the portfolio, compared to 2010.



Shareholders are advised that Santam expects its headline earnings per share (HEPS) for the year ended 31 December 2011 to be between 5% and 15 % below the HEPS for the corresponding period, while earnings per share is expected to be 15% to 25% lower than for 2010. The decrease in HEPS is due to the lower levels of investment return. The group's solvency margin as at 31 December 2011 is expected to be higher than the targeted 35% to 45% band. Santam will release its annual audited results for the year ended 31 December 2011 on 28 February 2012.
30-Nov-2011
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the business environment for the year to date. Overall underwriting results remain very satisfactory following the good margins and excellent results reported for the six months to 30 June 2011. The property class continued to perform well in the absence of significant property claims and major natural disasters, whilst the motor class experienced an exceptional performance for the year to date, mainly due to a reduction in the claims frequency and successful containment of claims cost inflation. Some pressure has been experienced in certain specialist classes of business. Rates within the short term insurance industry generally remain soft and premium growth is expected to be in line with the overall industry experience. Performance of the investment portfolio was commensurate with the volatile equity markets whilst interest rate returns remained lower than last year. The group's solvency margin remains at the upper end of the target range of 35% to 45%. Due to the nature of Santam's business, headline earnings are inherently susceptible to the volatility of underwriting and investment activities. The next set of results will be the final results for 2011 to be published on 28 February 2012.
08-Nov-2011
(Official Notice)
The board of directors of Santam Ltd ("the board") hereby notifies its shareholders that Dr Namane Magau has resigned as a non-executive director with effect from 7 November 2011.
12-Oct-2011
(Official Notice)
Mr Monwabisi Fandeso has been appointed to the Santam board as an independent non-executive director with effect from 10 October 2011. Mr Fandesio will serve as a member of the company's audit committee.
31-Aug-2011
(C)
Net insurance premium revenue rose by 6% to R7 billion (R6.6 billion) and net income was up by 7% R7.6 billion (R7.1 billion). Operating profit improved by 10% to R918 million (R833 million), while profit attributable to ordinary shareholders surged 16% to R670 million (R578 million). Furthermore, headline earnings per share jumped to 593cps (511cps).



Dividend

The board has declared an interim dividend for the six months ended 30 June 2011 of 200cps (2010: 185cps).



Prospects

Although the global economy slowed down during the second quarter of 2011, it is still expected that South African gross domestic product (GDP) growth will exceed 3% in 2011, while the inflation (CPI) is expected to average 4.9%. Historically GDP growth and CPI provided a good indication of gross written premium growth expectancies in the short-term insurance market. Competition in the market will, however, increase from both new entrants as well as from existing incumbents entering into new product lines, putting pressure on premium rates. Santam is positioned to manage increases selectively through our market and risk segmentation approach. The rand is considered to be strong. A weakening rand will impact claims cost, specifically the motor class where the import cost of parts is impacted by the strength of the currency. Santam will, however, continue its efforts to optimise profitability in all aspects of the business with a strong focus on risk management, improving efficiencies and lowering claims cost. Underwriting margins are expected to reduce somewhat in the second half of the year. Interest rates are expected to remain at current levels for the rest of 2011. A lower return on insurance funds is therefore expected in 2011 when compared to 2010. The equity market is not expected to deliver exceptional returns in 2011 and therefore investment returns are expected to be lower in 2011 than in 2010.
26-Aug-2011
(Official Notice)
In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the board of directors of Santam Limited ("the board") hereby notifies its shareholders that Mr DCM Gihwala has resigned as a non- executive director with effect from 1 September 2011. Mr Gihwala served on the board since 28 May 2008.
04-Jul-2011
(Media Comment)
According to Business Day, Santam said it had last received 418 tip-offs and reported 58 incidents of insurance related fraud, worth more than R11 million, to the police. The fraud was believed to be a tip of the iceberg, said Helen du Toit, head of audit and forensic services.
29-Jun-2011
(Official Notice)
Messrs G E Rudman and P de V Rademeyer have resigned as non-executive directors with effect from 30 June 2011.
13-Jun-2011
(Official Notice)
The board of directors of Santam Ltd ("the board") hereby notifies its shareholders that Mr Jan Gysbert le Roux has resigned with effect from 10 June 2011 as a Non-Executive Director.
01-Jun-2011
(Official Notice)
Shareholders were advised that all of the resolutions proposed in the notice to members incorporated in the notice to members, dated 01 March 2011, were passed by the requisite majority at the annual general meeting of the company held at 09h30 on Wednesday, 01 June 2011.
01-Jun-2011
(Official Notice)
Overall underwriting conditions remain very satisfactory following the good margins and excellent results reported in 2010. The crop business achieved positive underwriting results following the losses in 2010. Commercial property claims increased as a result of flooding, following the higher than normal summer rainfall in the northern parts of the country. Results were positively impacted by fewer large industrial claims in the corporate property business unit. Rates across the board remain depressed and premium growth is expected to be in line with the overall industry experience. Performance of the investment portfolio was in line with the flat equity market movements. Interest rate returns were lower than last year. The equity derivative structures of which full details are disclosed in the annual financial statements, hedge approximately 60% of the equity portfolio exposure and had no material impact on results to date. The group's solvency margin remains at the top end of the target range of 35% to 45%. Headline earnings continue to be susceptible to the inherent volatility of underwriting and investment activities. Santam's interim results for 2011 are expected to be released on 31 August 2011.
09-May-2011
(Official Notice)
Shareholders were advised that the company's annual financial statements for the year ended 31 December 2010 were posted to shareholders on 9 May 2011 and contain no modifications to the audited results which were published on 1 March 2011. Notice was given that the annual general meeting of the company will be held at 9h30 on 1 June 2011, at Santam Head Office, 1 Sportica Crescent, Tygervalley, Bellville, Cape Town, to transact business as stated in the notice of the annual general meeting.
11-Apr-2011
(Media Comment)
Business Day reported that Short-term insurer Santam, plans to expand into as many as three African countries by the year-end, CEO Ian Kirk said in an interview on Friday. Mr Kirk said the company's growth outside SA would be measured and would be determined by the pace of expansion into new markets by its majority owner, Sanlam. "Our (African) footprint is less than 10% of the business although we are really not setting down financial targets," Mr Kirk said. "We are in seven countries and we will be in nine or ten probably by the end of this year. We are following the Sanlam footprint.
01-Mar-2011
(C)
Net income increased by 6% to R15.2 billion (R14.3 billion). Net attributable profit jumped to R1.8 billion (R1.1 billion). In addition, headline earnings per share surged to 1 367cps (906cps).



Dividend

A final ordinary dividend of 325cps has been declared.



Outlook

Santam expects the economic recovery to continue during 2011 - albeit at a slow pace with a low interest and inflation environment during the first half of the year. Management expects to see an increase in interest rates and inflation in the second half of the year. Average GDP for 2011 is expected to be somewhat higher than for 2010. However, management expects premium increases in 2011 will remain subdued and growth will be a challenge - especially during the first half of the year. Upwards pressure on premiums can be expected should underwriting margins normalise towards lower levels during the course of 2011. Santam is positioned to manage increases selectively through our market and risk segmentation approach.



Claim costs are expected to come under pressure from the flooding throughout the country early in 2011, but Santam's diversity of risk and reinsurance protection should ensure that losses are contained. The expected weakening of the rand from current high levels in excess of its purchasing price parity is likely to increase the cost of claims. This is particularly the case with motor claims where the import cost of parts is impacted by the strength of the currency. Therefore underwriting margins are expected to decrease in 2011 reverting back to the normalised range of 4% to 6%.



The diversified business lines position Santam well to face these challenges. Management will also continue efforts to optimise profitability across the business with a strong focus on risk management and operating efficiencies. Interest rates are expected to remain at current levels during the first half of 2011, but could increase during the second half of the year. The net effect is likely to be a lower return on insurance funds than in 2010. The fundamentals of the market are in place for another year of investment performance. However, it is unlikely that Santam will experience a repeat of the stellar returns experienced in the second half of the 2010 financial year in the bond and equity markets. Investment performance is anticipated to show returns in the mid teens.
21-Feb-2011
(Media Comment)
Business Day reported that, Santam was in a "good shape", was trading profitably and continued to seek opportunities to expand in Africa and other emerging markets like India, CEO Ian Kirk said on Friday. Without revealing figures he said it had been a good year for the short-term insurer, which had benefited from fewer industrial and commercial accident and fire claims. "The business is in good shape and the diversity of the business is quite unique and helps us in tough times," Mr Kirk said.
16-Feb-2011
(Official Notice)
Santam expects its headline earnings per share for the year ended 31 December 2010 to be 40% to 55% higher than those for the prior corresponding period. The increase is mainly due to a substantial improvement in the underwriting performance.



As reported in our operational update on 1 December 2010, the overall underwriting conditions were very pleasing with all major business units performing well. A low frequency of large industrial accident and fire-related claims during this period contributed to a very good underwriting result for 2010.



Performance of the investment portfolio was broadly in line with the equity market movements. The group's solvency margin is expected to be at the higher end of the 35% to 45% target band. Santam will release its annual audited results for the year ended 31 December 2010 on 1 March 2011.
13 Jan 2011 13:27:41
(Official Notice)
Further to the announcement on 09 September 2010, Mr Masood Allie has been appointed as company secretary with effect from 01 February 2011.
15 Dec 2010 14:31:45
(Official Notice)
Further to the announcement published by Santam on SENS on 8 December 2010, the JSE Ltd has approved the fairness opinion provided by PricewaterhouseCoopers Corporate Finance (Pty) Ltd to Santam. PricewaterhouseCoopers Corporate Finance (Pty) Ltd has found that the terms of the acquisition to be fair to the shareholders of Santam. The fairness opinion will lie open for inspection for 28 days from the date of this announcement at Santam's registered office, being 1 Sportica Crescent, Tyger Valley, Bellville, 7530.
08 Dec 2010 14:59:21
(Official Notice)
01 Dec 2010 15:26:10
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the operating environment for the year to date. Overall underwriting performance remains very pleasing with all major business units performing well. The turnaround of both the corporate and portfolio management business units achieved in the first half continued for the year to date. The results of the former were positively influenced by the low frequency of large industrial accident and fire-related claims. Crop insurance results are under pressure due to weather related claims. In general rates remain soft and premium growth is expected to be in line with the overall industry experience.



Performance of the investment portfolio was in line with the strengthening of equity markets and the investment result has also been positively impacted by the accounting treatment of the derivative fence structure that existed at 31 December 2009. Following payment of the interim and special dividend the Company retained its equity portfolio intact and hedged approximately 60% of its equity exposure progressively by means of derivative fence structures from early September onwards. Interest rate returns, albeit lower than last year, continue to contribute positively to income mainly due to higher cash and float levels. The group's solvency margin comfortably remains within the target range of 35% to 45%. Headline earnings continue to be susceptible to the inherent volatility of underwriting and investment activities. The next set of results will be the audited abridged financial results for the 2010 financial year, to be published on 1 March 2011.

12 Nov 2010 10:03:21
(Official Notice)
Further to the terms announcement published by Santam on SENS on 28 June 2010, the JSE has approved the fairness opinion provided by One Capital Advisory (Pty) Ltd ("One Capital") to Santam. One Capital has found the terms of the transaction to be fair to the shareholders of Santam. The fairness opinion will lie open for inspection for 28 days from the date of this announcement at Santam's registered office, being 1 Sportica Crescent, Tyger Valley, Bellville, 7530.
06 Oct 2010 12:00:46
(Official Notice)
Mr Bruce Campbell has been appointed to the Santam board as an independent non-executive director with effect from 04 October 2010.
09 Sep 2010 12:02:55
(Official Notice)
The board of Santam announce that Mr Sana-Ullah Bray, the current group company secretary of Santam, has accepted the position of group company secretary to Sanlam Ltd, with effect from 01 January 2011. It is expected that a suitable replacement will be appointed prior to 01 January 2011.
01 Sep 2010 14:37:10
(C)
Net income increased by 6% to R7.1 billion (R6.7 billion) and operating income jumped by 70% to R833 million (R491 million). Net attributable profit surged by 83% to R578 million (R316 million). In addition, headline earnings on a per share basis grew to 511cps (284cps).



Dividend

An interim dividend of 185cps has been declared as well as a special dividend of 500cps.



Outlook

General consensus is that economic growth is expected to be fairly flat for the remainder of the year, with domestic insurance industry premium growth most likely below the nominal growth of the economy. It is anticipated that the market will continue to be soft, both for commercial and personal lines business as the recovery of the domestic economy is slower than anticipated. Santam remains concerned over the low levels of disposable income of individuals and earnings pressure on businesses which make achievement of an appropriate risk rate challenging. Expectations are that underwriting margins could normalise within the long-term target range of between 4% and 6%. The company will continue its efforts to optimise profitability in all aspects of the business with a strong focus on risk management and improving efficiencies. Santam is well positioned to face current challenges with its unique diversification and scale benefits. It remains difficult to predict financial markets and we expect the current volatility to remain. Until there is more clarity regarding sovereign debt exposures of several developed countries and its impact on the world economy, markets will remain under pressure. In line with general consensus management expects interest rates to remain at current or lower levels for the foreseeable future, limiting significant increases in returns on cash-related investments.



16 Aug 2010 14:47:40
(Official Notice)
Shareholders were advised that Santam expects its earnings per share and headline earnings per share for the six months ended 30 June 2010 to be between 75% and 85% higher than those of the prior corresponding period mainly due to a substantial improvement in the underwriting performance. As reported in the group's operational update on 2 June 2010, the overall underwriting conditions were satisfactory at acceptable margins. The diversity of Santam's business and an absence of large industrial claims during the reporting period contributed to the improved results. Performance of the investment portfolio was broadly in line with the equity market movements but the investment result has been positively impacted by the accounting treatment of the derivative fence structure which substantially matured during the second quarter. Interest rate returns, albeit lower than last year, continue to contribute positively to income. The group's solvency margin comfortably remained at the top end of the target band of 35% to 45%. Santam will release its reviewed interim results for the six months ended 30 June 2010 on 1 September 2010.
28 Jun 2010 15:32:10
(Official Notice)
04 Jun 2010 15:06:44
(Official Notice)
In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the board of directors of Santam Limited ("the board") hereby notifies its shareholders that Mr Desmond Kent Smith has resigned with effect from 02 June 2010 as a Non-Executive Director in order to take up his position as Chairman at Sanlam Ltd.
02 Jun 2010 11:20:54
(Official Notice)
Overall underwriting conditions remain satisfactory at acceptable margins after the improvement experienced in the second half of 2009. The absence of multiple large industrial claims in the corporate business unit to date as well as an improvement in the portfolio management business saw a welcome respite in these areas, mainly due to several initiatives to address underwriting and claims activities. Commercial property claims increased as a result of a higher frequency of fire claims as well as flooding claims following the higher than normal summer rainfall in the northern parts of the country. Rates across the board remain soft and premium growth is expected to be in line with the overall industry experience.



Performance of the investment portfolio was in line with the equity market movements but the investment result has been positively impacted by the accounting treatment of the derivative fence structure. Interest rate returns, albeit lower than last year, continue to contribute positively to income. The group's solvency margin remains at the top end of the target range of 35% to 45%. Headline earnings continue to be susceptible to the inherent volatility of underwriting and investment activities.
06 May 2010 10:16:35
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 31 December 2009 were posted to shareholders on 4 May 2010 and contain no modifications to the audited results which were published on 3 March 2010. PricewaterhouseCoopers Inc audited the results and the annual financial statements of Santam's and their reports are available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held at 9h30 on 2 June 2010, at Santam Head Office, 1 Sportica Crescent, Tygervalley, BelIville, Cape Town, to transact business as stated in the notice of the annual general meeting.
16 Apr 2010 09:27:24
(Official Notice)
Mr Vusumuzi (Vusi) Phillip Khanyile has been appointed to the board as an Independent Non-Executive Director with effect from 16 April 2010. Mr Malcolm David Dunn has been appointed to the board as an Independent Non- Executive Director with effect from 16 April 2010.
23 Mar 2010 16:41:13
(Official Notice)
Mr Jeremy Peter Rowse has resigned with effect from 19 March 2010 as a non-executive director in order to pursue other international interests.
03 Mar 2010 15:55:19
(C)
Gross written premium for the year ended was higher at R15 billion (2008: R14 billion) . Net income rose to R14 billion (2008: R12 billion) . Profit attributable to equity holders of the company increased to R1 billion (2008: R724 million) . Furthermore headline earnings per share was higher at 906 cps (2008: 586 cps) .



Dividend

The board declared a final dividend of 300 cps (2008: 264 cps).



Prospects

Santam expect underwriting margins to remain under pressure, both in commercial and personal lines, due to the softer market. The positive sentiment in South Africa in anticipation of the 2010 FIFA World Cup, as well as signs of a global recovery from one of the worst financial crises since the great depression, should have a positive impact on industry volumes. However, any economic recovery is likely to be gradual. The company remains concerned about the low levels of disposable income among individuals and earnings pressure on businesses, which will continue to make it difficult to achieve the appropriate rates for risks insured. Santam's diversified business lines position it well to face these challenges. The company will also continue their efforts to optimise profitability across the business with a strong focus on risk management and efficiencies. Santam share the general consensus that financial markets are overvalued in the short term, but remain optimistic over the medium to longer term. While volatility in global and local financial markets will impact Santam's investment performance during 2010, the proactive hedging of their equity exposure will lessen its effect over the short term. The company successfully concluded the acquisition of the entire shareholding of Emerald Risk Transfer (Pty) Ltd, effective 1 January 2010. As a specialist corporate property underwriting manager, the business will in future underwrite Santam's corporate property business. The group also concluded a transaction to acquire the minority shareholding in Centriq Insurance, which will become a wholly owned subsidiary. The transaction is subject to regulatory approval.
11 Feb 2010 08:14:42
(Official Notice)
In terms of the listings requirements of JSE Ltd, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will differ by more than 20% from the financial results for the previous corresponding period. Shareholders are advised that Santam expects its earnings per share and headline earnings per share for the year ended 31 December 2009 to be between 45% and 60% higher than those of the prior corresponding period mainly due to a turnaround in investment performance.



As reported in our operational update on 25 November 2009, the overall underwriting conditions remained challenging for the year, although we achieved an improvement in margins during the second half of the year. The diversity of Santam's business and an absence of very large industrial claims during this period contributed to this improvement. Performance of the investment portfolio was positive and substantially better than the losses of the previous corresponding period, largely due to the strengthening of equity markets. The group's solvency margin comfortably remained within the target band of 35% to 45%. The financial information on which this trading statement is based has not been reviewed or reported on by Santam's external auditors.
21 Jan 2010 07:31:08
(Media Comment)
Business Day reported that Santam plans to acquire Kagiso Risk Solutions' 33.3% effective interest in Centriq. Centriq is a specialist in risk finance, cell captives, underwriting management agencies and affinity business. As a result of the purchase, Centriq will now be 100% owned by Santam.
17 Dec 2009 14:05:04
(Official Notice)
Dr Yvonne Muthien has been appointed to the board as a non-executive director with effect from 25 November 2009.
26 Nov 2009 15:47:44
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the business for the year to date. Overall underwriting conditions remain challenging, although the company has achieved an improvement in margins during the second half to date. The absence of very large industrial claims in the corporate business unit during this period contributed largely to this improvement. The portfolio management business remains under pressure, but some improvement was seen in results following several initiatives to address underwriting and claims activities. Rates across the board remain soft and premium growth is expected to be in line with the overall industry experience.



Performance of the investment portfolio remains positive, and in line with the strengthening of equity markets. Interest rate returns, albeit lower than last year, continue to contribute positively to improved income. The group's solvency margin comfortably remains within the target range of 35% to 45%. Headline earnings continue to be susceptible to the inherent volatility of underwriting and investment activities. The transaction to acquire 100% of Emerald Insurance company and Emerald Underwriting managers, as reported to shareholders in August, is progressing well. All regulatory approvals have been obtained but final agreements and Super Group shareholder approval are still outstanding. The next set of results will be the audited abridged financial results for the 2009 financial year, to be published on 03 March 2010.
28 Oct 2009 08:55:32
(Media Comment)
Business Report noted that the Competition Commission has approved of Santam's acquisition of Emerald Insurance Company from Super Group Ltd. Santam's South African market share will now be 25%, suggesting that the company will have to look elsewhere for growth. Sanlam Investment Management senior portfolio manager, Patrice Rassou commented that Ghana, Botswana and India look attractive to the short-term insurer.
26 Aug 2009 15:25:16
(C)
13 Aug 2009 14:03:40
(Official Notice)
Shareholders are advised that Santam expects its earnings and headline earnings per share to be between 215% and 225% higher than the corresponding prior period ended 30 June 2008. This improvement was due to improved investment performance.



Santam will release its reviewed results for the six months ended 30 June 2009 on 26 August 2009.
06 Jul 2009 09:00:55
(Media Comment)
Business Day reported Santam CE, Ian Kirk, as saying that short-term insurers face a tough time because consumers owe so much. Kirk said that the industry "was facing considerable increases in claims, costs and frequency." Santam has also joined Climate-Wise, a global insurance industry initiative to help influence debate and decisions concerning climate change, which Kirk says cannot be ignored.
27 May 2009 17:08:16
(Official Notice)
Shareholders are advised that at the annual general meeting all the resolutions set out in the notice and proposed at the meeting were passed by the requisite majority of shareholders. The special resolution will be submitted for registration at the Companies and Intellectual Property Registration Office in due course.
27 May 2009 10:46:16
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the business environment for the year to date. Overall underwriting performance is under pressure. During the period the group again experienced several large industrial fire related claims which adversely affected the company's corporate and commercial underwriting margins. In line with industry experience the claims frequency and cost increased significantly on Santam's motor book. The portfolio management business remains under pressure and several initiatives are under way to further improve the situation. Overall performance of the specialist classes remains highly satisfactory. Premium growth to date has been healthy but management expect the general economic slowdown to have some further impact on premium growth and the group's ability as an industry to achieve an appropriate rate for the risk assumed. The performance of the investment portfolio has been under pressure during the period as a result of the volatility of the local markets. Favourable interest rate returns, albeit lower than last year, had a positive impact on cash related investments and to some extent negated the underperformance of the equity portfolio. The group's solvency margin comfortably remains within the approved band of 35% to 45%. Headline earnings continue to be vulnerable to the inherent volatility of underwriting and investment activities. The next set of results will be the interim results for 2009 to be published on 26 August 2009.
04 May 2009 13:33:34
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 31 December 2008 were posted to shareholders during the first week of April 2009 and contained no modifications to the audited abridged results which were published on 24 February 2009. PricewaterhouseCoopers Inc audited the abridged results and the annual financial statements of Santam, and their reports are available for inspection at the registered offices of the company.



Notice of the Annual General Meeting

The notice of annual general meeting was posted to shareholders along with the annual financial statements, and notice is hereby given that the annual general meeting of the company will be held on Wednesday, 27 May 2009 at 09:30 in the auditorium on the ground floor of the Santam Head Office, 1 Sportica Crescent, Tygervalley, Bellville, Cape Town, to transact business as stated in the notice of the annual general meeting.
24 Feb 2009 15:17:15
(C)
From an underwriting perspective the group did very well in its Southern African operations, showing a substantial increase in both underwriting profit and net insurance result over 2007. Overall earnings for the group were below 2007, attributable to lower investment returns as a result of the continued turmoil and substantial decline in equity markets. Headline earnings of R659 million were 35% lower than 2007, equating to headline earnings per share of 586c compared to 906c in 2007. The Southern African operations achieved an 8% increase in gross written premiums, experiencing growth across most classes of business.



Dividend

The board has declared a final dividend of 264cps (244cps).



Prospects

Underwriting margins are expected to be under pressure due to the softer market, both in commercial and personal lines, as well as the challenges faced by the industry due to the deterioration in global and domestic economic conditions. Although general consensus indicates lower inflation, disposable income will remain low and businesses are under earnings pressure. Economic growth is expected to be subdued, impacting adversely on industry growth. Having the benefit of diversification, Santam is well positioned to face these challenges and can benefit from moves by clients to place business with insurers with sound financial standing. The continuing financial and economic climate could impact capital growth on the group's investment portfolio during 2009. Indications are that the market will be less volatile but with limited overall growth. Further reduction in interest rates will negatively impact our cash-related investment returns.
28 Jan 2009 13:59:19
(Official Notice)
Shareholders are advised that Santam expects its earnings per share to reduce between 25% and 35% and headline earnings per share to be between 30% and 40% lower for the year ended 31 December 2008, compared to the prior year. This represents a significant improvement from results reported for the first half of 2008 when both earnings per share and headline earnings per share were 89% lower than the first half results of 2007.



As reported in the operational update on 26 November 2008, the industry conditions were challenging for the year with pressure on premium rates. However, the company achieved a substantially better net insurance result in the second half of 2008, compared to both the first half of 2008 and the second half of 2007. As generally experienced by investors in the financial markets, the performance of the company's investment portfolio was under severe pressure during the year with negative investment returns reported in both halves. However, absolute investment performance improved during the second half of the year, mainly as a result of reducing the company's exposure towards listed equities. The group's solvency margin comfortably remained within the target band of 35% to 45%.



The company completed the disposal of its discontinued European insurance operations before year end. The net result for the discontinued operations also ended favourably against the first half of the year and equivalent period in 2007. Santam will release its audited results for the year ended 31 December 2008 on 24 February 2009.
26 Nov 2008 16:39:19
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the business environment for the year to date. Apart from the corporate business unit, Santam's overall growth and underwriting profit in South Africa have been satisfactory to date with commercial and personal lines businesses meeting expectations. As mentioned with the announcement of our 2008 interim financial results in August this year, industry conditions remained challenging for the year with pressure on premium rates. Whilst the company's underwriting margin in the corporate business unit was under severe pressure during the first half of the year due to an industry wide experience of an unusual number of very large industrial claims, the company experienced fewer claims during the second half to date.



As generally experienced by investors in the financial markets, the performance of the company's investment portfolio has been under severe pressure during the period. It performed in line with the volatility and general decline on local markets as the prolonged international financial, liquidity and economic crises continue to impact negatively on developing markets in general. The company has however taken actions to mitigate the downside. Although the higher interest rates had a positive impact on cash related investments, this benefit could not compensate for the equity portfolio's performance. The group's solvency margin comfortably remains within the approved band of 35% to 45%. Headline earnings are below expectations primarily due to the investment returns. Should the weak equity markets continue for the remainder of the year, headline earnings will be substantially below that of 2007.



Actions to disinvest from the European insurance operations are almost completed. The Dublin based run-off operation was sold effective September 2008 when all the suspensive conditions were met. The London based company which is equally in run-off was also sold, subject to final regulatory approval which is expected early 2009. Shareholders are reminded of the inherent volatility of underwriting and investment activities. The next set of results will be the audited abridged financial results for the 2008 financial year, to be published on 24 February 2009.
27 Aug 2008 15:25:31
(C)
Gross written premiums from continued operations were up 8% to R6.8 billion (R6.3 billion). Profit attributable to ordinary shareholders declined by 89% to R100 million (R928 million) and headline earnings per share fell by 89% to 89cps compared to 803cps in 2007.



Dividends

An interim ordinary dividend of 166cps has been declared.



Prospects

Underwriting margins are expected to remain under pressure due to the softer market, both in commercial and personal lines, and could be especially challenging considering the anticipated deterioration in global and domestic economic conditions. Of particular concern is the increased inflationary environment, reduction in disposable income of individuals and deteriorating public infrastructure in some areas. Having the benefit of diversification, Santam is well positioned to face these challenges. In light of the volatility of global and local financial markets, the capital growth of Santam's investment portfolio during 2008 could be under further pressure. Taking cognisance of capital levels, Santam needs to maintain appropriate exposure to the various asset classes. In line with general consensus the group expects interest rates to remain at current levels for the foreseeable future, which will have a positive impact on cash-related investment returns.
04 Aug 2008 10:24:48
(Official Notice)
Shareholders are referred to the operational update that was published on SENS on 28 May 2008. Overall, growth and underwriting profit in South Africa have been satisfactory. Underwriting performance of the personal and commercial business, as well as the specialist classes, met or exceeded expectations in the first six months. However, in line with industry experience, Santam incurred a number of large industrial accident and fire related claims during this period which adversely affected the company's underwriting margin in the corporate business unit. This unit recorded a loss for the six months compared to a profit in the corresponding period. The largest contributor to the variance in earnings, compared to 2007, was the investment result. Performance of the investment portfolio has been under pressure during the six months. Although the higher interest rates had a positive impact on cash related investments, the equity portfolio performed significantly below the exceptional performance in the first half of 2007, especially due to a severe reduction in the value of financial and industrial stocks. As previously indicated the company's equity portfolio has been overweight in the underperforming financial and industrial sectors whilst underweight in resource shares. Cognisance should also be taken of the fact that the investment portfolio reduced substantially due to the buy-back of shares and payment of the special dividend in 2007. Santam continued to make good progress with the disinvestment from the European insurance operations, but this necessitated some additional reserving in the run-off businesses. As a result of the above items, the company expects headline earnings and attributable earnings per share to be between 85% and 95% below those reported for the prior corresponding period, being the six months to 30 June 2007. The information in this trading statement has not been reviewed or reported on by Santam's auditors. The interim results for the six months ended 30 June 2008 are expected to be published on 27 August 2008.
01 Jul 2008 16:34:49
(Official Notice)
Santam advises that Mr Haroon Lorgat has resigned as an independent non-executive director of Santam with effect from 30 June 2008 as he has been appointed as the CEO of the International Cricket Council ("ICC") based in Dubai. Due to Mr Lorgat's commitments to the ICC, it was mutually agreed that Mr Lorgat would resign from the Santam board. Mr Lorgat joined Santam's board in November 2007.
28 May 2008 17:25:47
(Official Notice)
Mr Dines Gihwala has been appointed to the board as an independent non-executive director with effect from 28 May 2008.
28 May 2008 17:23:04
(Official Notice)
This serves as a general communication to Santam shareholders with regards to the business environment for the year to date. In line with the position at the end of 2007, industry conditions remain challenging with pressure on premium rates. Whilst the underwriting performance of the personal and commercial business lines met expectations, the industry was plagued by an unusual number of very large industrial claims which adversely affected the company's underwriting margin in the corporate business unit. However, the current reinsurance programme has provided balance sheet protection regarding these claims. Apart from the corporate business unit, Santam's overall growth and underwriting profit in South Africa has been satisfactory with improvements being achieved by both portfolio management and Santam Agri which underperformed in 2007.



The performance of the investment portfolio has been under pressure during the period. Although the higher interest rates had a positive impact on cash related investments, the equity portfolio performed below expectations. The company's equity portfolio is value biased and hence currently overweight in financial and industrial shares whilst underweight in resource shares. Headline earnings are below expectations primarily due to the investment returns. Should this trend continue for the balance of the first half of 2008, headline earnings will be substantially below equivalent levels of 2007. Actions to disinvest from the European insurance operations are well under way. The ongoing operations of the London based company were sold as a going concern with effect 1 January 2008. The reserve requirements of both companies are closely managed whilst in run-off. Santam is looking to dispose of these run-off positions when opportune. Shareholders are reminded of the inherent volatility of underwriting and investment activities. The next set of results will be the interim results for 2008 to be published on 27 August 2008
28 May 2008 17:21:50
(Official Notice)
All of the resolutions proposed in the notice to members incorporated in the notice to members, dated 29 April 2008, were passed by the requisite majority at the annual general meeting of the company held at 09h30 on Wednesday, 28 May 2008.
12 May 2008 13:35:42
(Official Notice)
Mr Alwyn Martin has retired as an independent non-executive director of Santam with effect from 9 May 2008.
26 Feb 2008 15:17:59
(C)
The year under review has been challenging, marked by varying degrees of success. From an underwriting perspective the group did very well in its core Southern African operations, showing an increase in both underwriting profit and net insurance result against 2006. The performance of the international business was however disappointing. Because of the group`s exposure to equity instruments, its investment results were negatively affected by the recent turmoil in financial markets. Although investment income for the year exceeded expectations, it ended well below the exceptional levels of 2006. The company successfully concluded its capital restructuring programme during 2007. The STC charge on the special dividend amounted to R245 million, impacting on earnings. Headline earnings of R1 030 million were 42% lower than the previous year, equating to headline earnings per share of 906c compared to 1 555c in 2006.



Dividend

The board has declared a final dividend of 244cps (262cps) bringing the total dividend for the year to 410cps (380cps), an increase of 8%.



Prospects

Underwriting margins are expected to remain under pressure due to the softer market, both in commercial and personal lines, and could be especially challenging considering the anticipated deterioration in global and domestic economic conditions. Of particular concern is the reduction in the disposable income of individuals, uncertainty in electricity power supply and deteriorating public infrastructure. Having the benefit of diversification, Santam is well positioned to face these challenges. In light of the volatility of local financial markets, capital growth on the group's investment portfolio could be under pressure during 2008. However, as a long- term value investor Santam need to maintain sufficient exposure to equities in order to deliver acceptable long-term returns on shareholder funds. In line with general consensus management expect interest rates to remain at current levels for the foreseeable future, which will have a positive impact on the company's cash-related investment returns.
18 Feb 2008 14:15:57
(Official Notice)
Investment results for the year were negatively affected by the turmoil in financial markets during November and December and ended well below the exceptional levels of 2006. Although the domestic underwriting results were satisfactory across most classes for the year, the last two months' results were adversely affected by floods and large industrial claims. In addition the European operations incurred significant underwriting losses. Earnings were also reduced by the large STC charge emanating from the special dividend paid in December 2007.



Accordingly, Santam is expecting headline and basic earnings per share for the full year ended 31 December 2007 to be between 40% and 45% below the levels of the corresponding prior period. The information in this trading statement has not been reviewed or reported on by Santam's auditors. The audited results for the year ended 31 December 2007 are expected to be published on 26 February 2008.
01 Jun 2006 11:08:51
(Official Notice)
Santam has received a National Insurer Financial Strength Rating of `AA (zaf)" from global rating agency, Fitch Ratings. The agency views the outlook for Santam to be stable.
26 May 2006 16:14:51
(Official Notice)
Shareholders are advised that all of the resolutions proposed in the notice to members incorporated in the notice to members, dated 02 May 2006, were passed by the requisite majority at the annual general meeting of the company held at 09h30 on Friday, 26 May 2006.
26 May 2006 10:09:19
(Official Notice)
The South African short-term insurance market continues to soften, as existing and new insurers compete for market share, contributing to downward pressure on rates and, hence reduced underwriting margins. Despite this, Santam's growth of quality business remains healthy. The continued normalisation of the claims environment and increases in weather and fire related claims are placing further strain on underwriting margins, especially in the property and personal lines of businesses. Santam's investment portfolio benefited significantly from the strong local equity market performance, despite the recent market correction. A bi-annual operational update will be provided as part of regular communication to shareholders on the occasion of future annual general meetings and following our November board meetings. The next set of results will be the interim results for 2006, to be published during the last week in August 2006.

22 Feb 2006 09:04:09
(C)
24 Aug 2005 11:27:38
(Official Notice)
Ebrahim Aboobaker Moolla has been appointed to the board as a Non Executive director with effect from 23 August 2005. Mr Moolla has 28 years experience in the legal industry that will be of great benefit to Santam Ltd.
24 Aug 2005 10:07:18
(C)
02 Aug 2005 12:52:54
(Official Notice)
Santam recently announced the intention to create South Africa`s first black empowered insurance company specialising in risk finance, ART, cell captives, underwriting management- and affinity business, whereby they would acquire the business of Nova Group, comprising Nova Risk Partners and Nova Life Partners. These entities would be merged with wholly owned subsidiary Santam Risk Finance Ltd, following which a 33.3% stake of the new business would be sold to Kagiso Treasury Services Ltd, part owned by Kagiso Trust Investments (Pty) Ltd.



All requisite statutory approvals have been granted and a joint committee today announced the appointment of Michael Blain as chief executive officer of the merged company, with immediate effect.



Seamless integration of Santam Risk Finance and Nova Group is expected to be concluded within the next three months, facilitated by the strategic fit and synergies prevalent in the businesses. Santam Risk Finance`s strengths in the corporate and risk finance markets are complemented by Nova`s expertise in and portfolio of UMA and affinity business.
05-Apr-2017
(X)
Santam is a multinational general insurance group that writes insurance business in South African and Namibia and has investments and clients in a further 31 countries. It is the leading general insurer in South Africa with a market share of more than 22%. The group provides a diversified range of general insurance products and services through a network of 2 700 intermediaries and direct channels. The group boasts more than 1 million policyholders, ranging from individuals to commercial and specialist business owners and institutions in South Africa.



The group derives revenue from insurance activities and investments. Insurance activities include commercial and personal insurance and alternative risk cover. The performance of insurance activities is based on gross written premium as a measure of growth, with net underwriting result as a measure of profitability.



The group consists of the Santam branded business units (Santam Commercial and Personal, Santam Specialist and Santam re) and wholly-owned subsidiaries ? MiWay (direct insurer), Centriq (cell captive insurer) and Brolink (an independently managed insurance administration business). A number of specialist underwriting managers are included within Santam Specialist.



The group also participates in investments and partnerships in emerging markets in Africa, India and Southeast Asia through collaboration with SEM.


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