WATCH: Sanlam has big plans to grow its African footprint
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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