Magazine date:
Apr 2018 The South African insurer, Santam, reported in late December 2017 a turnover of 29.72 billion ZAR (2.4 billion USD), up by 15% in comparison with the 25.91 billion ZAR (1.9 billion USD) in 2016. Net results also posted an important increase of 36%, going from 1.33 billion ZAR (97.45 million USD) in 2016 up to 1.81 billion ZAR (146.5 million USD) twelve months later.
The 2017 performance has been fulfilled despite the significantly high loss experience. During this year, South Africa sustained several devastating events such as the fire that broke out in tourism attraction city Knysna in June 2017 and the torrential rain that washed the city of Durban in October of the same year.
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