ZURICH INSURANCE COMPANY S A LTD - Trading statement
ZSA 201306280091A
Trading statement
Zurich Insurance Company South Africa Limited
(Incorporated in the Republic of South Africa)
Registration number: 1965/006764/06
JSE Code: ZSA
ISIN: ZAE000094496
(“the Company”)
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited
(“JSE”), companies are required to publish a trading statement
as soon as they are satisfied that a reasonable degree of
certainty exists that the financial results for the period to be
reported on will differ by 20% or more from the financial
results of the previous corresponding period.
In the corresponding period prior year, the company reported
total earnings of R29.5m, earnings per share (“EPS”) of 243cents
and headline earnings per share (“HEPS”) of 234cents.
The Company’s underwriting results have deteriorated in the
current year when compared to the prior year, due mainly to an
increase in frequency and severity of both property and motor
claims in the personal segment. EPS and HEPS are likely to be at
least 100% lower than the corresponding reporting period of the
previous year. A range cannot be accurately estimated at this
stage. Shareholders are advised that a further trading statement
will be issued in due course to provide earnings forecast ranges
for EPS and HEPS as required by the JSE Listings Requirements.
Shareholders are advised that the above information has not been
reviewed and reported on by the Company’s external auditors.
Johannesburg
28 June 2013
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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