FY Results – Insurance company Santam reported an 18% increase in gross written premium for the year ended December 2022, with conventional insurance GWP growing 8% to R35.4 billion. The company faced challenges due to increased claims activity, claims inflation, and large catastrophe event losses. The estimate of Santam’s gross exposure to the KZN floods is R4.4 billion. The company’s net underwriting margin for conventional insurance was 5.1%. Santam’s return on shareholders’ funds was 18.8%. The company declared a final dividend of 845.00000 cents per share.
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