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ZURICH INSURANCE COMPANY S A LTD - Trading statement

Release Date: 14/01/2013 17:00
Code(s): ZSA     PDF:  
Wrap Text
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 SA" or "the Company")


TRADING STATEMENT

In terms of the Listing Requirements of the JSE Limited (“JSE”),
companies are required to publish a trading statement as soon as
they are satisfied that a reasonable degree of certainty exists
that the financial results for the period to be reported on will
differ by 20% or more from the financial results of the previous
corresponding period.

The Company’s underwriting results have deteriorated in the
current year when compared to the prior year, due to large losses
and significant weather related losses impacting the property and
motor portfolios. Earnings per share (“ËPS”) and headline earnings
per share (“HEPS”) are likely to be lower than the previous year
by more than 90%. A range cannot be accurately estimated at this
stage and shareholders are advised that a further trading
statement will be issued in due course to provide earnings
forecast ranges for EPS and HEPS as required by the JSE Listing
Requirements.

Shareholders are advised that the above information has not been
reviewed and reported on by the Company’s external auditors.




Johannesburg
14 January 2013


Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 14/01/2013 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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