Santam is the only broad-based short-term insurer left on the JSE. It is not, however, the largest general insurer by market cap; that honour belongs to Outsurance, with a R73.3bn market cap, third only to Sanlam and Discovery on the insurance board. 

Outsurance remains focused on personal lines, and motor insurance in particular, and operates as a direct writer — except in commercial insurance where it has some tied agents...

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