ZURICH INSURANCE COMPANY S A LTD - Trading statement

Release Date: 24/07/2015 09:00
Code(s): ZSA
 
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
(“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 current reporting
period will differ by 20% or more from the financial results of the previous
corresponding period.


Accordingly, shareholders are advised that, for the 6 month interim period to 30
June 2015, the Company is expected to report a R0.1 million consolidated profit
after tax, compared to a consolidated loss of R40 million in the 6 month period
to 30 June 2014. Earnings per share is expected to be 1 cent, compared to a
prior period loss per share of 329 cents (a 100% improvement) and the headline
loss per share is expected to be 4 cents (a 99% improvement), compared to a
prior period headline loss per share of 620 cents.


The Company attributes the expected improvement for the 6 month interim period
to 30 June 2015 to continued progress made towards its turnaround strategy
initiated at the end of 2013 and to the positive influence of this strategy on
the attritional loss ratio.


Shareholders are advised that the information contained herein has not been
reviewed and reported on by the Company’s external auditors. The Company’s
interim financial results for the 6 month period to 30 June 2015 are expected to
be released on the Stock Exchange News Service on or about 28 August 2015.

Johannesburg
24 July 2015

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

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