Santam

Santam group, a centenary company, has since its creation in 1918, endeavored for the development of the South African insurance. Thanks to its strong position on the local market, the group has recently expanded its reach beyond its traditional boundaries.

With interests in several African countries, the United Kingdom and Ireland, Santam is aiming at becoming a global group.

Following the average 2008 results, the insurer managed to bounce back in 2009, posting a turnover on the rise by 35.2% and good financial indicators. In May 2009, South Africa's Financial Intermediaries Association (FIA) granted Santam the award for the market's best non-life insurer.

The 2008 setback is a thing of the past now, and the group has been posting outstanding performances in tune with its status as an African giant.

Desmond SmithIan Kirk
ChairmanChief Executive

Santam in 2009

Capital
14 425 740 USD
Turnover
2 025 805 320 USD
Shareholder's equity
665 875 980 USD
Assets
2 302 995 240 USD
Net result after tax
150 459 120 USD
Technical result
214 228 980 USD
ROE
22.6%
Loss ratio
70.6%
Combined ratio
94.2%
Number of branches
2 (South Africa and Namibia)
Number of employees
2783 (South Africa)

Management

Chief executive
Ian kirk
Chief financial officer
Machiel Reyneke
Executive head — Risk services
Hendri Nigrini
Insurance sevices manager
Hennie Nortje
Executive Head — Broker distribution
Edward Gibbens
Executive head — Market development
Temba Mvusi
Executive head — People & brand services
Yegs Ramiah
Executive head — Information management
Jan de Klerk
Executive head — Specialist business
Quinten Matthew

Main shareholders

Sanlam Limited
54.87%
Central Plaza Investments 112 (Pty)
9.59%
Guardian National Insurance Limited
5.58%

Main technical highlights of Santam Group: 2005-2009

in USD
 20052006200720082009
Gross written premiums
1 789 320 9001 717 180 1001 921 808 9701 498 011 3502 025 805 320
Written premiums net of reinsurance
1 472 427 5201 432 140 9601 592 972 9101 254 382 4501 738 369 080
Net earned premiums
1 397 892 1801 368 074 4801 563 357 2401 237 795 4001 738 638 720
Net incurred losses
912 860 940938 318 8001 065 288 780845 939 5501 226 862 000
Net loss ratios
65.3%68.6%68.1%68.3%70.6%
Management expenses
433 817 740396 163 300450 070 650353 187 950485 621 640
Technical results
349 197 280324 868 080256 036 95098 677 100214 228 980
Net results
283 801 580264 628 580156 977 64078 709 250150 459 120

Evolution of premiums, losses, management expenses and results

in millions USD

Th turnover's evolution of the Group per class of business: 2005-2009

in USD
 200520062007200820092009 shares08/09 growth
Motor
728 019 600648 318 760720 842 490584 772 750828 738 54040,9%41,7%
Health
49 637 70044 789 84048 289 59039 935 70051 501 2402,5%29%
Marine
42 861 76041 104 60050 040 27041 626 10053 658 3602,7%28,9%
Other damage
622 283 420595 308 000616 677 030464 648 700650 910 96032,1%40,1%
Misc. accident
234 321 460272 991 240330 149 070247 643 600289 188 90014,3%16,8%
TPL
112 196 960114 667 660155 810 520119 384 500151 807 3207,5%27,2%
Grand total
1 789 320 900 1 717 180 100 1 921 808 970 1 498 011 350 2 025 805 320 100% 35,2%

Breakdown per class of business in 2009

Ratios' evolution: 2005-2009

1 Management expenses on gross written premiums
Exchange rate
ZAR/USD as at 31/12
2005
2006
2007
2008
2009
0.15758
0.14174
0.14589
0.10565
0.13482

Contact


Head office
1 Sportica Crescent, Tyger Valley Bellville 7530
PO Box 3881 Tyger Valley 7536 - South Africa
Phone
(+27) 21 915 7000
Fax
(+27) 21 914 0700
Email
info [at] santam [dot] co [dot] za
Website
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