OPERATIONAL UPDATE
Insurer Sanlam has a mixed bag of results
Profits show marked recovery but volatility in global markets affects investment returns
07 December 2022 - 22:53
Africa’s largest insurer, Sanlam, has released a mixed-bag operational update, with profits in its life businesses showing a marked recovery in the 10 months to end-October as Covid-19-related death claims dwindled, but the volatility in global markets affected its investment returns.
The rise in inflation and interest rates affected global investment markets, and the ability of clients to commit to new insurance and investment products and retain existing arrangements, Sanlam said in a statement on Wednesday...
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