+1%
Conventional insurance GWP growth
June 2023: 7%
+2.7%
Net underwriting margin
June 2023: 3.8%
+9.6%
Return on shareholder funds
June 2023: 24%
+8.1%
Interim dividend
June 2023: 495 cps
Santam recorded an overall solid financial performance for the six months to 30 June 2024, with the group’s conventional insurance business achieving Gross Written Premium (GWP) growth of 8.0%(June 2023: 7.0% and a net underwriting margin of 6.5% (June 2023: 3.8%).
2024 Interim report Webcast link
Annual financial results for the financial year ended 31 July 2024 presented by the Group CEO; Tavaziva Madzinga and Group CFO; Wickus Olivier.
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Santam delivers strong and resilient operating results for the financial year ended 31 July 2024.
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2023 was a year of change for Santam. We refreshed our corporate strategy, implemented a new operating model, and strengthened our management team.
DownloadSantam has been South Africa’s leading general insurer for 106 years – through global societal, economic and climate-related changes and rapid technological advances. The group has achieved an enviable market share over this time by innovating and adapting to disruptive circumstances and new risks.
Santam is the largest short-term insurer in South Africa and has maintained a market share of more than 20% for the last 10 years.
We are a diversified short-term insurer; we provide our clients with appropriate insurance solutions through a multi-product and multi-channel distribution portfolio.
We have a meaningful and growing contribution to GWP from countries outside South Africa.
Santam has a solid legacy and a consistent, proven record of sustainable value creation.
We consistently achieve our net underwriting margin target range of 5% to 10%.
We have a stable dividend policy that has enabled an ordinary dividend per share compounded growth of 7% CAGR over the last seven years.
Currently eleven executives make up the senior management team, with Tavaziva (‘Tava’) Madzinga as Chief Executive Officer, appointed in July 2022. Santam has twelve directors, serving on its board. The board is headed by Ms Moholi who is currently serving as Chairperson.
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Santam is a leading general insurer in South Africa with a market share less than 24%. We provide a diverse range of general insurance products and services in southern Africa and internationally through a network of 2 700 intermediaries and direct channels. We serve more than 1 million policyholders who range from individuals to commercial and specialist business owners and institutions.
Learn moreView our past and present reports and financial results.
General enquiries
E-mail: investor.relations@santam.co.za
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