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%.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now