SANTAM LIMITED - Trading Statement For the year ended 31 December 2018

Release Date: 21/02/2019 14:30
Code(s): SNT
 
Wrap Text
Trading Statement – For the year ended 31 December 2018

SANTAM LIMITED
(Incorporated in the Republic of South Africa) Registration number: 1918/001680/06
(JSE Share Code: SNT & ISIN ZAE000093779)
NSX share code: SNM
(‘Santam’) or (“the Company”)


TRADING STATEMENT – FOR THE YEAR ENDED 31 DECEMBER 2018

Shareholders are advised that Santam expects its headline earnings per share (HEPS) for the
year ended 31 December 2018 to be between 1 994 cps and 2 204 cps (2017: 1 425 cps),
which will be between 40% and 55% higher than the HEPS reported for the comparative
period. Earnings per share (EPS) is expected to be between 2 085cps and 2 302 cps (2017:
1 511 cps) which is between 38% and 53% higher.

The increase in HEPS and EPS has mainly been driven by significantly improved underwriting
results compared to that of the previous year. The net underwriting margin is expected to be
above the long-term target range of 4% to 8% of net earned premium. Conventional insurance
premium growth, however, slowed somewhat due to the current difficult economic conditions.

Significant gains on foreign exchange differences compared to the losses recorded in the prior
year have also contributed to the increase in HEPS and EPS.

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 audited results for the year
ended 31 December 2018 on 28 February 2019.


CAPE TOWN
21 February 2019

Sponsor: Investec Bank Limited

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