ZSA - Zurich Insurance Company South Africa Limited - Trading Statement
ZSA
ZSA
ZSA - Zurich Insurance Company South Africa Limited - Trading Statement
ZURICH INSURANCE COMPANY SOUTH AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1965/06764/06)
(Share code: ZSA)
(ISIN: ZAE000094496)
("Zurich SA" or the "the Company")
TRADING STATEMENT
Zurich SA is currently finalising its results for the half-year ended 30 June
2008, which should be released before the end of August 2008.
In this regard, while there was premium growth over the comparable period, the
underwriting performance was adversely affected by severe, unseasonable storms
and an adverse underwriting result on the motor book.
In addition the less than expected performance on the bond portfolio has had an
affect on earnings.
Consequently, shareholders are advised that the headline earnings per share is
likely to be approximately twenty-five to thirty-five percent (25% - 35%) lower
than the corresponding reporting period of last year.
The forecast financial information on which this trading statement is based has
not been reviewed and reported on by the Company`s auditors.
By order of the Board
Johannesburg
19 August 2008
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 19/08/2008 12:42:30 Produced by the JSE SENS Department.
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