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Sanlam has reported “credible” financial results for the first four months of 2022 though it opted to bolster its discretionary capital as a buffer against possible future mortality claims from Covid-19 and ructions on financial markets due to the war in Ukraine.

The financial services group released an operational update to end-April on Wednesday saying its financial performance in the period was “satisfactory” despite persistent global supply-chain disruptions, volatility in financial markets in the wake of Russia’s invasion of Ukraine and catastrophic flooding in KwaZulu-Natal...

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