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+11%
Conventional insurance GWP growth
Dec 2023: 6%
+117%
Net underwriting margin
Dec 2023: 3.5%
+12%
Return on shareholder funds
Dec 2023: 28.5%
+9%
Interim dividend
Dec 2023: 905 cps
Santam recorded a resilient financial performance for the twelve months to 31 December 2024, with the group’s conventional insurance business achieving Gross Written Premium (GWP) growth of 10.5% and a net underwriting margin of 7.6%.
2024 Annual report Webcast link Annual results summary video
Annual financial results for the financial year ended 31 December 2024 presented by the Group CEO; Tavaziva Madzinga and Group CFO; Wickus Olivier.
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Santam delivers strong and resilient operating results for the financial year ended 31 December 2024.
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Santam continues to make progress in rolling out its FutureFit 2030 strategy and operating model, supported by the launch of our refreshed brand. Strategic actions improved profitability across our portfolio, driving robust financial performance in 2024.
DownloadSantam has been South Africa’s leading general insurer for 106 years – through global societal, economic and climate-related changes and rapid technological advances. The group has achieved an enviable market share over this time by innovating and adapting to disruptive circumstances and new risks.
Santam is the largest short-term insurer in South Africa and has maintained a market share of more than 20% for the last 10 years.
We are a diversified short-term insurer; we provide our clients with appropriate insurance solutions through a multi-product and multi-channel distribution portfolio.
We have a meaningful and growing contribution to GWP from countries outside South Africa.
Santam has a solid legacy and a consistent, proven record of sustainable value creation.
We consistently achieve our net underwriting margin target range of 5% to 10%.
We have a stable dividend policy that has enabled an ordinary dividend per share compounded growth of 7% CAGR over the last seven years.
2025 AGM Notice and Form of Proxy: 3 March 2025 2025 AGM Notice and Form of Proxy: 10 March 2025
3 March 2025: Annual Results for the 12 months ended 31 December 2024
1 September 2025: Interim report for the six months ended 30 June 2025
03 March 2025: Declaration of dividend for 2024
17 March 2025: Last date to trade cum dividend
18 March 2025: Shares to trade ex-dividend
20 March 2025: Record date for 2024 dividend
24 March 2025: Payment date of dividend for 2024
Currently eleven executives make up the senior management team, with Tavaziva (‘Tava’) Madzinga as Chief Executive Officer, appointed in July 2022. Santam has twelve directors, serving on its board. The board is headed by Ms Moholi who is currently serving as Chairperson.
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Santam is a leading general insurer in South Africa with a market share less than 24%. We provide a diverse range of general insurance products and services in southern Africa and internationally through a network of 2 700 intermediaries and direct channels. We serve more than 1 million policyholders who range from individuals to commercial and specialist business owners and institutions.
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At Santam, we are intentional about building an empowered, purpose-led, value-driven and inclusive culture, all while ensuring we embody ethical leadership as a responsible company.
Learn moreAt Santam, we are committed to being a good corporate citizen and contributing to a sustainable and transformed South African economy.
Level 1 BBBEE
Top employer 2025
Founding signatory United Nations Environmental Programme's Principles for Sustainabie Insurance
Constituent of the FTSE4Good Index Series and Top 30 FTSE/JSE Responsible Investment Index
Signatory Task Force on Climate-related Financial Disclosures (TCFD)
View our past and present reports and financial results.
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