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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
(“the Company”)
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited,
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.
In the prior year to 31 December 2012, the Company reported a
consolidated profit of R2 million, earnings per share of 17
cents and headline loss per share of 506 cents.
Shareholders are advised that, for the year ended 31 December
2013, the Company is expected to report a consolidated loss of
R164 million, expected loss per share of 1,348 cents per share
and expected headline loss of 1,762 cents per share.
Tough underwriting conditions, significant weather events in
the last quarter of the year, together with an increase in the
frequency and severity of motor and property claims
contributed to the loss.
Shareholders are advised that the information contained herein
has not been reviewed and reported on by the Company’s
external auditors. The Company’s financial results are
expected to be released on SENS on or about 17 February 2014.
Johannesburg
24 January 2014
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 24/01/2014 02:31:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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