Sharenet Sites 
Sharenet Sites
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 Listing 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 forthcoming reporting period will differ by 20% or more from the financial results of the previous
corresponding period.
Accordingly, shareholders are advised that, for the year ended 31 December 2014, the Company is
expected to report a consolidated profit after tax of between R37 million and R46 million, compared to a
consolidated loss of R167 million in the prior year. Earnings per share is expected to be between 307 cents
and 375 cents, compared to a prior year loss per share of 1,348 cents (123% to 128% improvement) and the
headline loss per share is expected to be between 740 cents and 905 cents, compared to a prior year
headline loss per share of 1,762 cents (49% to 58% improvement).
The expected consolidated profit for the year ended 31 December 2014 arises from progress made with the
implementation of the Company's turnaround strategy initiated in 2014, yielding a progressive
improvement in the attritional loss ratio, stringent cost management and realised gains on investments. A
series of large fire losses in the second half of the year, within the property portfolio have, however,
negatively impacted earnings.
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 for the year ended 31 December 2014 are
expected to be released on the Stock Exchange News Service on or about 20 February 2015.
Johannesburg
23 January 2015
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 23/01/2015 12:00:00 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.
