Wrap Text
Reviewed interim report for the six months ended 30 June 2019 and declaration of ordinary dividend (number 131)
Santam Limited and its subsidiaries
("Santam" or "the company" or "the group")
Incorporated in the Republic of South Africa
Registration number 1918/001680/06
ISIN: ZAE000093779
JSE share code: SNT
NSX share code: SNM
A2X share code: SNT
Bond company code: BISAN
REVIEWED INTERIM REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2019 AND DECLARATION OF ORDINARY DIVIDEND (NUMBER 131)
SALIENT FEATURES
- Gross written premium growth of 9% to R17.0 billion
- Conventional gross written premium growth of 8% to R14.2 billion
- Conventional insurance net underwriting margin of 5.3%
- Gross claims paid up 8% to R9.7 billion
- Economic capital coverage ratio of 160%
- Return on capital of 25.4%
- Headline earnings per share decreased 3% to 990 cents
- Interim dividend per share increase 8% to 392 cents
- Level 1 BBBEE rating in terms of the Financial Sector Charter
- Sustains 6 095 Employees and in excess of 3 000 intermediaries
KEY FINANCIAL RESULTS
Period ended Period ended Change
30 June 2019 30 June 2018 %
Gross written premium (R million) 17,018 15,591 9%
Ordinary dividend per share (R cents) 392.00 363.00 8%
Basic earnings per share (R cents) 990 1,018 (3%)
Headline earnings per share (R cents) 990 1,018 (3%)
Net asset value (R million) 9,140 8,857 3%
KEY HIGHLIGHTS
- We saw solid performance in a more challenging claims environment relative to 2018.
- The Santam Specialist business experienced strong growth in the property and engineering classes.
- MiWay maintained its growth momentum from 2018.
- Good progress was made in establishing a Pan-African specialist insurance business with Saham Finances and the benefits from this co-operation
should start to realise from 2020 onwards.
- The group remains focused on delivery of our brand promise of Insurance good and proper.
- Underwriting results and headline earnings per share were impacted by multiple catastrophe events which resulted in higher claims compared
to 2018. These included:
- fires in the Betty's Bay, Western Cape, area in January 2019;
- hail damage in Newcastle, KwaZulu-Natal, in March 2019; and
- the greater Durban area in KwaZulu-Natal was harshly affected by a storm that struck the area from 21 to 23 April 2019 resulting in more
than 1 800 claims processed by Santam.
- Crop insurance was negatively impacted by significant hail-related claims.
DECLARATION OF ORDINARY DIVIDEND (NUMBER 131)
Notice is hereby given that the board has declared a gross interim dividend of 392.00 cents per share (2018: 363.00 cents per share), 313.60 cents net
of dividend withholding taxation, where applicable, per ordinary share for the six months ended 30 June 2019 to those members registered on the
record date, being Friday, 20 September 2019.
The dividend has been declared from income reserves. A dividend withholding taxation of 20% will be applicable to all shareholders who are not exempt.
Share code: SNT
ISIN: ZAE000093779
Company registration number: 1918/001680/06
Company tax reference number: 9475/144/71/4
Gross cash dividend amount per share: 392.00 cents
Net dividend amount per share: 313.60 cents
Issued shares at 29 August 2019: 115 131 417
Declaration date: 29 August 2019
Last day to trade cum dividend: Tuesday, 17 September 2019
Shares trade ex dividend: Wednesday, 18 September 2019
Record date: Friday, 20 September 2019
Payment date: Monday, 23 September 2019
Share certificates may not be dematerialised or rematerialised between Wednesday, 18 September 2019, and Friday, 20 September 2019, both days
inclusive.
In terms of the dividends tax legislation, the dividends tax amount due will be withheld and paid over to the South African Revenue Service (SARS)
by a nominee company, stockbroker or Central Securities Depository Participant (CSDP) (collectively Regulated Intermediary) on behalf of shareholders.
Shareholders should seek their own advice on the tax consequences associated with the dividend and are particularly encouraged to ensure their
records are up to date so that the correct withholding tax is applied to their dividend.
Short Form Announcement
This short-form announcement is the responsibility of the directors and is only a summary of the information in the full announcement. Any investment
decision by investors and/or shareholders and/or bondholders should be based on consideration of the full announcement that was released on 29 August 2019
and can be found on the company's website at http://www.santam.co.za/investor-relations/integrated-report/financial-results-and-reports/. Copies of the
full announcement may also be requested at the company's registered office, at no charge, during office hours at the Investor Relations department
(see contact details below).
The full announcement has been released on JSE
https://senspdf.jse.co.za/documents/2019/JSE/ISSE/SNT/Interim.pdf
ADMINISTRATION
INVESTOR RELATIONS
Gloria Tapon Njamo
T +27 21 915 8228
E Gloria.TaponNjamo@santam.co.za
NON-EXECUTIVE DIRECTORS
B Campbell, VP Khanyile (chairman), IM Kirk, MLD Marole, NV Mtetwa, JJ Ngulube, MJ Reyneke, PE Speckmann
EXECUTIVE DIRECTORS
L Lambrechts (chief executive officer), HD Nel (chief financial officer)
COMPANY SECRETARY
M Allie
TRANSFER SECRETARIES
Computershare Investor Services (Pty) Ltd
Rosebank Towers, 15 Biermann Avenue, Rosebank 2196
PO Box 61051, Marshalltown 2107
Tel: 011 370 5000
Fax: 011 688 7721
www.computershare.com
SANTAM HEAD OFFICE AND REGISTERED ADDRESS
1 Sportica Crescent
Tyger Valley, Bellville 7530
PO Box 3881, Tyger Valley 7536
Tel: 021 915 7000
Fax: 021 914 0700
www.santam.co.za
Registration number 1918/001680/06
ISIN ZAE000093779
JSE share code: SNT
NSX share code: SNM
A2X share code: SNT
Bond company code: BISAN
29 August 2019
SPONSOR
Investec Bank Ltd
Date: 29/08/2019 08:00:00
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