Santam sees profit rise 12 % to R1.1 bn

Picture Thinkstock

Picture Thinkstock

Short-term insurer Santam saw its profits rise by 12 percent from R953 million to R1.1 billion and declared an interim dividend of 288 cents – up 10 percent from a year ago, in its interim results to June, released on Friday.

Net insurance premium income rose seven percent from R8.5 billion to R9.1 billion, while netinsurance benefits and claims rose six percent from R5.5 billion to R5.8 billion.

Santam headline earnings per share rose by 11 percent from 799 cents to 887 cents.

The results appear to defy the general trend for South African insurance companies, which are constrained by consumer spending which is under pressure and increasing costs of regulation.




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