Santam, South Africa’s largest general insurer, today reported strong underwriting results for the year ended December 2015, with a net underwriting margin of 9.6%.
This serves as a general communication to Santam shareholders with regard to the business environment for the ten month period ended 31 October 2015.
According to Santam, South Africa’s largest short-term insurer, around 70% of motor claims relate to motor vehicle accidents.
The Department of Transport has introduced amendments to the National Road Traffic Regulations for goods-in-transit which could have far-reaching consequences for the agricultural transport industry – including a requirement that goods-in-transit be “fully insured”.
Santam has donated R2 million to help alleviate the financial hardship faced by both commercial and emerging farmers.
Infrastructure development is booming across Africa, due in no small part to significant economic growth and foreign direct investment.