The takeover of Moroccan insurer Saham Finances looks set to be the shining star for Sanlam when it reports its 2019 interim results as economic conditions in SA arrest new business growth in its traditional profit-spinning business and its Namibian operations also face tough times.

In releasing its trading update for the four months to April on Wednesday, the country’s biggest insurer by market capitalisation said new business volumes (new policies sold) at its biggest profit-contributing division, Sanlam Personal Finance (SPF), declined 9%.

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