SNT
SNT
SNT - Santam Limited - Trading Statement - 12 months ended 31 December 2010
SANTAM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1918/001680/06)
(Share Code: SNT ISIN: ZAE000093779)
TRADING STATEMENT - FOR 12 MONTHS ENDED 31 DECEMBER 2010
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 headline earnings per share
for the year ended 31 December 2010 to be 40% to 55% higher than those for the
prior corresponding period. The increase is mainly due to a substantial
improvement in the underwriting performance.
As reported in our Operational update on 1 December 2010, the overall
underwriting conditions were very pleasing with all major business units
performing well. A low frequency of large industrial accident and fire-related
claims during this period contributed to a very good underwriting result for
2010.
Performance of the investment portfolio was broadly in line with the equity
market movements. The group`s solvency margin is expected to be at the higher
end of the 35% to 45% target band.
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 annual audited results for the year ended 31 December 2010 on 1
March 2011.
CAPE TOWN
16 February 2011
Sponsor:
Investec Bank Limited
Date: 16/02/2011 07:15:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
