Sanlam CEO Ian Kirk. Picture: SUPPLIED
Sanlam CEO Ian Kirk. Picture: SUPPLIED

Sanlam says that full ownership of African insurer Saham Finances is the next logical step in making Sanlam the continent’s largest non-banking financial services group.

The deal will be funded by using a combination of available capital, debt facilities and the issuance of equity instruments.

For the year to end-December the insurance group reported an 18% rise in normalised headline earnings and an 8% increase in its dividend to 290c. Sanlam has reported a solid performance as it celebrates 100 years. Although new business volumes are down, the insurer lifted the value of new business by 15% and has grown normalised headline earnings by 18%.

Sanlam CEO Ian Kirk spoke to Business Day TV to provide more detail on the Saham deal and the group’s full-year results.

Sanlam CEO Ian Kirk talks to Business Day TV to provide more detail on the Saham deal and the group’s full-year results

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