SNT
SNT
Santam Limited - Board Meeting - Operational update to shareholders
SANTAM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1918/001680/06)
(Share Code: SNT ISIN: ZAE000006854)
OPERATIONAL UPDATE TO SHAREHOLDERS FOLLOWING ITS BOARD MEETING HELD ON 20
NOVEMBER 2006
Board Meeting - Operational update to shareholders
At the last annual general meeting it was decided that Santam would issue an
operational update to shareholders on a bi-annual basis as part of regular
communication to shareholders.
This serves as a general communication to Santam shareholders with regards to
the business environment to date. As mentioned with the announcement of our
2006 interim financial results in August, pricing and underwriting margins in
the South African short-term insurance market remain under pressure. In line
with the experience of the overall industry, our personal lines motor book
results remain weak and corrective actions taken amongst the various portfolios
have started to yield positive results. Santam"s growth of quality business
remained healthy for the period.
The company"s investment portfolio performed well, in line with the strong local
equity market. Shareholders are reminded of the inherent volatility of
underwriting and investment activities.
The next set of results will be the abridged financial results for the 2006
financial year, to be published during the last week in February 2007.
CAPE TOWN
22 November 2006
Date: 22/11/2006 02:01:10 PM Produced by the JSE SENS Department
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