Santam

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Santam, the non-life insurance subsidiary of the Sanlam Group, ended the 2018 year with a turnover worth 2.3 billion USD. Its net result increased from 97.45 million USD in 2017 to 175 million USD one year later.
You will discover below a study on Santam's financial performance over the past five years.
Santam
  • Date of creation: March 28, 1918, South Africa
  • Class of business: Non-life
  • Network of distribution: 3 600 intermediairies and direct channels
  • Rating: Standard & Poor’s: « BB+ » stable
  • Regional presence: Africa, South Asia and Middle East
  • Number of employees: 6 043

Santam in 2018

VP Khanyile
Chairman of the board of directors
Lizé Lambrechts
Chief executive officer(CEO)
Share capital
7 147 000 USD
Turnover
2 297 000 000 USD
Assets
3 129 350 000 USD
Shareholder’s equity
649 837 000 USD
Net result
175 000 000 USD
Non-life net loss ratio
60.61%
Non-life net expenses ratio
37.63%
Non-life net combined ratio
98.24%

Management

Vusumuzi Phillip KhanyileChairman of the board of directors
Lizé LambrechtsChief executive officer (CEO)
Hennie NelChief financial officer (CFO)
Keven WrightChief operating officer (COO) & IT
Asher GrevlerCorporate risk officer (CRO)
John MelvilleChief underwriting officer
Mokaedi DilotsotlheMarketing manager

Major shareholders

Sanlam
61.5%
Public Investment Corporation (SOC)
5.44%
Investec Asset Management (Pty)
3.84%
Old Mutual Life Assurance (South Africa)
1.53%
The Vanguard Group
1.21%
Liberty Group Ltd. (Investment Portfolio)
1.04%
Alexander Forbes Investments
0.99%
Prescient Investment Management (Pty)
0.75%
Dimensional Fund Advisors LP
0.72%
Goldman Sachs Asset Management Inter.
0.69%

Main technical highlights (2014-2018)

Figures in millions ZAR
 20142015201620172018
Gross written premiums
22 71024 31925 90929 72033 109
Net written premiums
17 63518 88419 77221 69324 068
Net earned premiums
17 22218 52319 82621 33022 812
Net incurred losses
10 87811 51012 91114 06613 827
Net loss ratio (1)
63.16%62.14%65.12%65.94%60.61%
Management expenses
6 0646 5707 0337 9379 056
Net expenses ratio (2)
34.39%34.79%35.57%36.59%37.63%
Net combined ratio (3)
97.55%96.93%100.69%102.53%98.24%
Net result
1 6672 4641 3311 8072 529

(1) Net loss ratios = net incurred losses / net earned premiums
(2) Net management expenses ratio = management expenses / written premiums net of reinsurance
(3) Net combined ratio = net loss ratio / net expenses ratio

Figures in millions USD
 20142015201620172018
Gross written premiums
1 9571 5791 8982 4062 297
Net written premiums
1 5201 2261 4491 7561 670
Net earned premiums
1 4841 2031 4531 7261 583
Net incurred losses
9387479461 139959
Management expenses
523427515642628
Net result
14416098146175

Sanlam: Breakdown of turnover per class of business (2014-2018)

Figures in millions ZAR
Class of business20142015201620172018Parts 20182017-2018 evolution
Motor
9 62910 24711 00412 12512 80138.66%5.57%
Property damage
6 5527 2137 9729 00010 03130.30%11.46%
Engineering
1 1271 1761 1961 2901 3354.03%3.49%
Third party liability
1 2461 3271 2021 2271 2503.78%1.87%
Agricultural insurance
1 0448409848297292.20%-12.06%
Marine
7346866767147212.18%0.98%
Accident and health
3503713744825351.62%11%
Others (1)
75211951863090.93%66%
Total conventional insurance
20 75722 07123 50325 85327 71183.70%7.19%
Alternative insurance
1 9532 2482 4063 8675 39816.30%39.59%
Total
22 71024 31925 90929 72033 109100%11.40%
Figures in millions USD
Class of business20142015201620172018
Motor
830665806981888
Property damage
565468584728696
Engineering
97768810493
Third party liability
10786889987
Agricultural insurance
9055726751
Marine
6345505850
Accident and health
3024273937
Others (1)
71471522
Total conventional insurance
1 7891 4331 7222 0931 923
Alternative insurance
168146176313375
Total
1 9571 5791 8982 4062 297

(1) Including bond

Sanlam: Breakdown of turnover per geographical area (2014-2018)

Figures in millions ZAR
 20142015201620172018
South Africa
20 56521 90923 36026 52029 742
Rest of Africa (1)
1 8372 2453 4793 8103 684
Southeast Asia, India and Middle East
3088401 0091 5491 969
Others
---223261
Total group
22 71024 99427 84832 10235 656
Additional costs (2)
--675-1 939-2 382-2 547
Total
22 71024 31925 90929 72033 109

(1) Including gross written premiums underwritten in Namibia
(2) Costs related to underlying investments in Sanlam Emerging Market (SEM) and SAN JV Proprietary Limited

Figures in millions USD
 20142015201620172018
South Africa
1 7721 4231 7122 1472 064
Rest of Africa (1)
158146255308256
Southeast Asia, India and Middle East
275574125137
Others
---1818
Total group
1 9571 6232 0402 5982 474
Additional costs (2)
--44-142-193-177
Total
1 9571 5791 8982 4062 297

Geographical breakdown of 2018 turnover

Sanlam 2018 turnover

Evolution of net ratios: 2014-2018

Sanlam net ratios

Breakdown of 2018 turnover per class of business

Sanlam turnover

(1) Including bond and alternative insurance

Exchange rate as at 31/12
ZAR/USD
2014
2015
2016
2017
2018
0.08619
0.06494
0.07327
0.08094
0.06939
Santam

Sanlam : Contact

Head office
1 Sportica Crescent, Tyger Valley Bellville, Western Cape 7530
Phone
+27 21 915 7000
Fax
+27 21 914 0700
Email
info [at] santam [dot] co [dot] za
Website
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Mon, 08/07/2019 - 14:08
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