Revenue by Segment

Financials in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
Insurance - Conventional	44.41B	40.10B	32.02B	34.75B					21.56B
Insurance - Conventional Growth	10.75%	25.22%	-7.86%	-					8.88%
Insurance - Alternative Risk Transfer	2.69B	2.59B	1.63B	7.08B					544.00M
Insurance - Alternative Risk Transfer Growth	3.75%	58.58%	-76.95%	-					-35.55%
Other	57.00M	55.00M	8.00M	-					-
Other Growth	3.64%	587.50%	-	-					-
Insurance - Santam's Share of Sanlam General Insurance Businesses	1.19B	1.16B	728.00M	631.00M					-
Insurance - Santam's Share of Sanlam General Insurance Businesses Growth	2.59%	59.34%	15.37%	-					-
Unallocated ART Cells	15.08B	13.43B	7.06B	-12.00M					-
Unallocated ART Cells Growth	12.29%	90.25%	-	-					-
Reallocations and Other Reconciling Items	-1.01B	894.00M	-	-					-2.15B
Unallocated Sanlam Target Shares	-	-	-728.00M	-1.30B					-
Unallocated Other Income and Expenses	-	-	456.00M	258.00M					-
Unallocated Other Income and Expenses Growth	-	-	76.74%	-					-
Unallocated Reinsurance Commission	-	-	-1.37B	-1.22B					-
Unallocated Foreign Currency on Technical Reserves	-	-	-238.00M	-					-
Unallocated Investment Return	-	-	2.22B	-					-
Insurance - Santam's Share of SEM Businesses	-	-	-	-					2.25B
Insurance - Santam's Share of SEM Businesses Growth	-	-	-	-					58.20%
Investment	-	-	-	749.00M					575.00M
Investment Growth	-	-	-	-					61.97%
Unallocated Tax Recovered from Cell Owners	-	-	-	617.00M					-
Unallocated Foreign Currency on Technical Reserves and Investment Return on Insurance Funds	-	-	-	678.00M					-
Total	62.41B	58.22B	41.79B	42.24B					22.78B
Total Growth	7.19%	39.33%	-1.06%	-					9.59%

Revenue by Geography

Financials in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
South Africa	37.93B	36.08B	32.65B	37.65B					-
South Africa Growth	5.14%	10.50%	-13.29%	-					-
Rest of Africa	2.77B	2.61B	2.53B	2.56B					-
Rest of Africa Growth	5.85%	3.20%	-0.94%	-					-
Other International	6.82B	4.36B	4.14B	286.00M					-
Other International Growth	56.63%	5.27%	1346.85%	-					-
Unallocated	8.61B	9.27B	7.56B	-1.03B					-
Unallocated Growth	-7.17%	22.58%	-	-					-
Southeast Asia, India and Middle East	-	-	-	3.61B					-
Total	56.13B	52.32B	46.88B	43.08B					-
Total Growth	7.28%	11.59%	8.82%	-					-

Source: S&P Global Market Intelligence.