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 1965/006764/06)
JSE Share Code: ZSA
ISIN: ZAE000094496
("Zurich SA" or "the Company")
TRADING STATEMENT
Zurich SA is currently finalising its results for the period ended 30 June
2009, which should be released on or about Friday, 21 August 2009.
Shareholders are advised that headline earnings per share, which include the
insurance result and net investment income but exclude capital gains on equity
disposals, are likely to be between 35% - 45% higher than the previous
corresponding reporting period. The insurance result continues to be impacted
by adverse underwriting conditions, but net investment income improved,
unaffected by the losses suffered on the bond portfolio last year.
During 2008, basic earnings were positively impacted by the realisation of
significant capital gains on equity disposals which was not repeated in the
current year and accordingly basic earnings per share are likely to be between
20% and 30% lower than the previous corresponding reporting period.
The forecast financial information on which this trading statement is based
has not been reviewed nor reported on by the Company`s auditors.
Johannesburg
11 August 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 11/08/2009 10:58:01 Produced by the JSE SENS Department.
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