WEALTH WATCH
STEPHEN CRANSTON: The symbiotic relation between Santam-Sanlam a boon for both
It can’t be a coincidence that the three most recent CEOs of the Sanlam group previously ran short-term insurer Santam. Leon Vermaak, Johan van Zyl and Ian Kirk all went that route. Of the three, Kirk was the only one who had previously headed a listed company, the niche assurer Capital Alliance. Current Santam boss Lize Lambrechts would be young enough to head Sanlam for a few years after Kirk’s retirement. But as they say, I believe she is too valuable where she is. She could, of course, leave the business in the hands of her finance director, Hennie Nel. Santam is a few weeks older than Sanlam; both have centenaries this year. Sanlam started as a subsidiary of Santam before its long spell as an unlisted mutual society. Santam is far more dominant in general insurance than Sanlam is in life insurance. Santam is twice the size of nearest competitor Hollard (since Hollard absorbed Regent). Its competitor in the green stable, Old Mutual Insure (once Mutual & Federal), is now a distan...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.