ZSA - Zurich Insurance Company South Africa Limited - Revised trading statement

ZSA - Zurich Insurance Company South Africa Limited - Revised trading statement 
Zurich Insurance Company South Africa Limited                                   
(Incorporated in the Republic of South Africa)                                  
Registration number 1965/006764/06                                              
ISIN: ZAE000094496                                                              
JSE Code: ZSA                                                                   
("Zurich" or "the Company")                                                     
REVISED TRADING STATEMENT                                                       
Further to the trading statement released on SENS on 10 December 2010,          
shareholders are advised that the Company is currently finalising its results   
for the year ended 31 December 2010, which should be released on SENS on or     
about 28 January 2011.                                                          
The business transformation programme embarked upon in February 2010 has        
contributed to a significant turnaround in the underwriting results.  The       
programme has right-sized the business and has created a strong platform for    
future profitable growth.  Performance of the equity investment portfolio was   
broadly in line with the ALSI, while interest income, although impacted by lower
rates, continues to contribute positively to income.                            
Accordingly, earnings per share is anticipated to be in the range of 1,030 cents
to 1,333 cents per share (2009: loss per share of 1,515 cents) and the headline 
earnings per share in the range of 1,010 cents to 1,459 cents per share (2009:  
loss per share of 2,245 cents). The Company`s solvency margin improved and is   
well within the target range set by the board.                                  
The forecast financial information on which this trading statement is based has 
not been reviewed and reported on by the Company`s auditors.                    
Johannesburg                                                                    
7 January 2010                                                                  
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 07/01/2011 17:05:02 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.