SNT - Santam Limited - Trading Statement - Year Ended 31 December 2009
SNT
SNT
SNT - Santam Limited - Trading Statement - Year Ended 31 December 2009
SANTAM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1918/001680/06)
(Share Code: SNT ISIN: ZAE000093779)
TRADING STATEMENT - YEAR ENDED 31 DECEMBER 2009
In terms of the Listings Requirements of JSE Limited, companies are required to
publish a Trading Statement as soon as they become reasonably certain that the
financial results for the period to be reported on will differ by more than 20%
from the financial results for the previous corresponding period.
Shareholders are advised that Santam expects its earnings per share and headline
earnings per share for the year ended 31 December 2009 to be between 45% and 60%
higher than those of the prior corresponding period mainly due to a turnaround
in investment performance.
As reported in our Operational update on 25 November 2009, the overall
underwriting conditions remained challenging for the year, although we achieved
an improvement in margins during the second half of the year. The diversity of
Santam`s business and an absence of very large industrial claims during this
period contributed to this improvement.
Performance of the investment portfolio was positive and substantially better
than the losses of the previous corresponding period, largely due to the
strengthening of equity markets. The group`s solvency margin comfortably
remained within the target band of 35% to 45%.
The financial information on which this Trading Statement is based has not been
reviewed or reported on by Santam`s external auditors. Santam will release its
audited results for the year ended 31 December 2009 on 3 March 2010.
CAPE TOWN
11 February 2010
Sponsor:
Investec Bank Limited
Date: 11/02/2010 08:00:11 Produced by the JSE SENS Department.
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