South Africa · Delayed Price · Currency is ZAR · Price in ZAc Santam Earnings Call Transcripts
Fiscal Year 2025
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Strong 2025 results featured double-digit top-line growth, a record underwriting margin, and robust return on capital, supported by disciplined underwriting, benign claims, and strategic expansion. International diversification and partnerships drove growth, while capital buffers remain strong.
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Approval has been received to launch a Lloyd's syndicate, targeting international specialty insurance growth with a focus on leveraging existing expertise and partnerships. The initiative aims for over 20% of group GWP from international business by 2030, with robust governance, conservative growth, and accretive margins.
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The AGM was held virtually, covering 2024 financial results, board elections, and key resolutions on governance, remuneration, and share issuance. All proposed resolutions passed, and adjustments to the share incentive scheme were made in line with best practices and investor feedback.
Fiscal Year 2024
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Strong operational and financial performance in 2024, with net income up 13% and underwriting margin at 7.6%. Growth driven by robust premium increases, improved claims ratios, and strategic focus on direct and international channels, despite ongoing weather-related risks.