Sanlam Posts Strong Results For Now |
|||||||||||||||||||||
|
11 September - Sanlam reported financial results for the first half of 2007 that were generally excellent, but the insurance comany giant then sounded a warning that the remainder of the year would see a slow down in core growth due to global volatility in key economic markets. Sanlam is the second biggest SA insurer, with only Old Mutual ahead of them, and core earnings increased by twenty-four percent in the period to June of this year. Sanlam also has a mammoth R5.8 billion sloshing around in surplus cash and is trying to find a way to spend it any other way than declaring a special dividend. The plan to obtain additional shares in Santam, which takes care of short term insurance for those who could not tell the difference between Santam and Sanlam, has fallen through due to a lack of support for the idea - it would have led to minority shareholder interest in that company. Other highlights of Santam's first half showing included the following: - The core earnings for Santam group shot up from R1,58 billion to R1,96 billion. - Core earnings per Santam share increased appreciably to 88,8c a share up from 69,9c per share. - Santam's net income increased to R3,36 billion, which was an increase from the mark of R3,22 billion for the same time period in 2006. Related Insurance Articles: * Life Insurance Industry Posts Good Results * Life Insurance Firms Scramble For Africa * New Car Insurance Policy Offered By Santam * Hillary Clinton Promises Health Insurance For All * SA Insurance Firms To Face Investigation * Dial Direct Offers 4x4 Short Term Insurance * New SA Insurance Company Launches * Car Insurance Claims In SA Rise Sharply 
|
| ||||||||||||||||||||
| 3/14/2010 7:06:51 AM | |||||||||||||||||||||
 |