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Earnings boost for South Africa’s largest insurer

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Sanlam has seen growth in its financial services businesses, with the group’s headline earnings jumping by 40%.

Sanlam, the largest insurer in South Africa, has posted a robust operating performance for the six months ended 30 June 2024.

“The lower growth rate relative to NRFFS is due to lower investment return on shareholder capital of R1.2 billion , mainly attributable to foreign exchange movements.” “Total new business volumes were strong for the first six months of 2024, at R204 billion. Growth was“Life insurance new business volumes were strong across all regions. Net value of new covered business increased by 10%, with a net new business margin of 2,73%.”

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