File: Sanlam attributed this to slow growth and fading confidence in South Africa.
JOHANNESBURG - Sanlam Ltd posted an 8 percent fall in full-year headline earnings as South Africa’s biggest insurer was hit by market volatility and a weak economy at home.Normalised headline earnings per share declined 10 percent to 431,7 from 480 cents in 2017.The company faced rising interest rates in the United States, uncertainties over Brexit and an escalating Sino-U.S. trade war.It also faced weak economies and volatile currencies in a number of other countries in which it operates.
New business volumes increased by just 1 percent, dragged by a 13 percent decline in new business in its investment unit.
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