Santam says half-year earnings were dented by a plethora of catastrophes in the first half of 2019, which resulted in higher claims than the prior year.
“The Santam group reported solid operational results for the six months to June 2019 in a more normalised claims environment compared to the low level of claims incurred in 2018,” the company said. “Our focus during the second half of 2019 will remain on achieving profitable growth and taking appropriate underwriting actions to manage the risk associated with weak economic conditions.”