Santam sees big drop in headline earnings due to KZN floods

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Insurer expects Heps to fall up to 62% after lower underwriting results, lower investment income and flood claims

Santam will report a big drop in interim headline earnings due to lower underwriting results and investment income, and the devastating floods in KwaZulu-Natal.

Headline earnings per share is expected to be down 43%-62% to 327c-491c for the six months to end-June, the short-term insurer said in a trading statement on Tuesday...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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