Santam, South Africa’s largest short-term insurer, today reported acceptable operating results for 2020 under very difficult economic circumstances, despite the negative impact of COVID-19. The group’s conventional insurance book achieved Gross Written Premium (GWP) growth of 5% (2019: 7%) and a net underwriting margin of 2.5% (2019: 7.7%), below the group’s target range of 4% to 8%.
The Covid-19 pandemic has ushered in ample opportunities by accelerating the digital transition of tasks that were once considered mundane.
South Africans to take necessary precautions in protecting their property
Santam has warned that, with remote work and work from home taking off as the new norm, companies need to be extra vigilant to ensure they are not vulnerable to disastrous data breaches or other cyber security incidents.
Santam Agriculture has a thorough understanding of liability cover and claims handling in respect of veld fires and compliance with the National Veld and Forest Fire Act of 1998.
And essential assets to protect
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