FINANCIAL SERVICES
Sanlam is back to pre-pandemic levels despite R22bn in mortality claims
The insurer has tripled its discretionary capital level to R3bn with CEO Paul Hanratty saying this may remain in place for ‘two to three years’
10 March 2022 - 09:51
UPDATED 10 March 2022 - 16:19
Sanlam, SA’s largest nonbank financial services group, booked a 27% rise in headline earnings in 2021 even as payouts for Covid-19-related mortality and business interruption claims surged.
The group, which ironically was founded in 1918 when the world was hit by the Spanish flu pandemic, said headline earnings rose to R9.04bn in the year to end-December, up from R7.1bn the previous year. Diluted headline earnings per share also rose 27% to 433c a share, up from 340c a share in the prior year...
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