SNT
SNT
Santam Limited - Fitch rating
Santam Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/001680/06
Share code: SNT ISIN: ZAE000006854
("Bantam")
Fitch gives Santam an `AA (zaf)" rating for Finance Strength
Santam, South Africa"s leading short-term insurer, has received a National
Insurer Financial Strength Rating of `AA (zaf)" from global rating agency, Fitch
Ratings. The agency views the outlook for Santam to be stable.
According to Fitch, an Insurer Financial Strength Rating provides an assessment
of the financial strength of an insurance company and its capacity to meet
obligations to policyholders and contract holders on a timely basis.
Companies assigned an AA rating are viewed as possessing very strong capacity to
meet policyholder and contract obligations. For such companies, risk factors are
viewed to be modest and the impact of any adverse business and economic factors
is expected to be very small.
The rating reflects Santam"s strong historical earnings, number one market
position and solid capitalisation. For the financial year ended 31 December
2005, Santam reported gross written premium of R11.4 billion, net income of R1.8
billion and had shareholder funds of R5.7 billion.
Cape Town
1 June 2006
Sponsor: Investec Bank Limited
Date: 01/06/2006 10:56:14 AM Produced by the JSE SENS Department
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