SNT - Santam Limited - Trading Statement - 12 months ended 31 December 2010

SNT - Santam Limited - Trading Statement - 12 months ended 31 December 2010     
SANTAM LIMITED                                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1918/001680/06)                                           
(Share Code: SNT ISIN: ZAE000093779)                                            
TRADING STATEMENT - FOR 12 MONTHS ENDED 31 DECEMBER 2010                        
In terms of the Listings Requirements of JSE Limited, 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 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.                                              
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 annual audited results for the year ended 31 December 2010 on 1     
March 2011.                                                                     
CAPE TOWN                                                                       
16 February 2011                                                                
Sponsor:                                                                        
Investec Bank Limited                                                           
Date: 16/02/2011 07:15:01 Supplied by www.sharenet.co.za                     
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