Santam, South Africa’s largest general insurer, today reported solid underwriting results and strong growth for the year ended 31 December 2017. Within the context of a tough trading environment for short-term insurers, the group reported excellent double-digit gross written premium growth of 15% and a solid net underwriting margin of 6.0%, which is well within the target range of 4% to 8%.
South Africa to host inaugural event to strengthen African insurance industry’s contribution to sustainable development
The United Nations and Santam, South Africa’s largest general insurer, will co-host this month the first African conference of UN Environment’s Principles for Sustainable Insurance Initiative (PSI).
A national client survey by Santam, has revealed interesting and surprising attitudes of drivers towards their vehicles, including emotional attachment and feelings of despondency if dispossessed of their much-loved cars.
South Africa loses millions of rand to fire each year. The past fire season has seen thousands of people displaced from their homes as a result of fires in the Knysna area while acres of vineyards were destroyed in the Western Cape in January, decimating revenues within the wine industry.
Rainfall conditions for most of the Summer Rainfall Area are likely to improve from the middle of October. Still hope for some rain for the Western Cape in September.
The fires that ravaged Knysna and the surrounding areas in June 2017, followed by heavy floods that wreaked havoc in Durban in October, highlight insurance exposures in the face of climate change.
For any media enquiries please contact:
Head: Corporate Communications
Tel: 021 915 7373
Cell: 083 414 8144