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Audited Summary Consolidated Financial Statements and Dividend Declaration for the year ended 31 December 2019
Santam Limited and its subsidiaries
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
AUDITED SUMMARY CONSOLIDATED FINANCIAL STATEMENTS AND ORDINARY DIVIDEND DECLARATION
for the year ended 31 December 2019
SALIENT FEATURES
- Gross written premium (GWP) on conventional insurance grew by 7% to R29.7 billion
- Conventional insurance net underwriting margin of 7.7%
- Final dividend per share increased by 8% to 718 cents per share
- Headline earnings per share decreased 1% to 2 069 cents
- Economic capital coverage ratio of 160%
- Gross claims R18.9 billion
- Return on capital of 22.2%
- Sustains 6 177 Employees
- In excess of 3 000+ Intermediaries
KEY FINANCIAL RESULTS
Year ended Year ended Change
31 Dec 2019 31 Dec 2018 %
Gross written premium (R million) 35,852 33,109 8%
Ordinary dividend per share (R cents) 718.00 665.00 8%
Basic earnings per share (R cents) 1,990 2,198 (9%)
Headline earnings per share (R cents) 2,069 2,099 (1%)
KEY HIGHLIGHTS
- Strong underwriting results, emphasising that good risk management principles are key in a challenging environment
- MiWay's strong performance demonstrates the strong entrepreneurial nature of the business
- Santam Agriculture proved its value to farmers paying claims in excess of R800 million thereby protecting farmers from financial
loss and aiding food security
- Santam Specialist's underwriting results were enhanced through more focused risk pricing and management
- Premiums for Santam re's international portfolio surpassed its South African and African portfolio for the first time in 2019
- Our Sanlam Emerging Markets (SEM) partner businesses made progress in bedding down structures and systems for collaboration with
Santam
- Outside Africa, Shriram General Insurance in India delivered a substantial improvement in underwriting performance and growth in
premiums
DECLARATION OF ORDINARY DIVIDEND (NUMBER 132)
Notice is hereby given that the board has declared a gross final dividend of 718.00 cents per share (2018: 665.00 cents per
share), 574.40 cents net of dividend holding taxation, where applicable, per ordinary share for the year ended 31 December 2019
those members registered on the record date 27 March 2020.
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: 718.00 cents
Net dividend amount per share: 574.40 cents
Issued shares at 5 March 2020: 115 131 417
Declaration date: 5 March 2020
Last day to trade cum dividend: Tuesday, 24 March 2020
Shares trade ex dividend: Wednesday, 25 March 2020
Record date: Friday, 27 March 2020
Payment date: Monday, 30 March 2020
Share certificates may not be dematerialised or rematerialised between Wednesday, 25 March 2020, and Friday, 27 March 2020,
both days inclusive.
In terms of the dividend 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 particulary 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
Audited summary consolidated financial statements announcement ("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
5 March 2020 and which can be found on the company's website at http://www.santam.co.za/media/2685856/2019-afs.pdf. 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).
PricewaterhouseCoopers expressed an unmodified audit opinion on the audited consolidated financial statements in their report
dated 4 March 2020. The report also includes communication of key audit matters. Key audit matters are those matters that, in
their professional judgement, were of most significance in their audit of the consolidated financial statements of the current
period. The full report is available on http://www.santam.co.za/media/2685856/2019-afs.pdf.
The full announcement was released on the JSE's website at https://senspdf.jse.co.za/documents/2020/JSE/ISSE/SNT/YE2020.pdf.
The presentation to analysts can be found on the company's website at http://www.santam.co.za/media/2685857/2019-ias-booklet.pdf.
ADMINISTRATION
INVESTOR RELATIONS
Gloria Tapon Njamo
T +27 21 915 8228
E Gloria.TaponNjamo@santam.co.za
NON-EXECUTIVE DIRECTORS
B Campbell, MP Fandeso, VP Khanyile (chairman), IM Kirk, MLD Marole, 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
15 Biermann Avenue, Rosebank 2196
Private Bag X9000, Saxonworld 2132
Tel: 011 370 5000
Fax: 011 688 5216
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
SPONSOR
Investec Bank Ltd
Santam is an authorised financial services provider (licence number 3416).
Date: 05-03-2020 08:00:00
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