Sanlam delivers buoyant operational earnings growth despite weak economy.
04 December 2019 - 19:36Sanlam said on Wednesday its new business volumes were growing ahead of inflation despite the tough market conditions which it expects to persist for the foreseeable future.
“We are satisfied about this performance in the challenging conditions. It is pleasing that we continue to deliver good relative performance across our businesses. This is testimony to the quality of our business and our people, their ability to execute and deliver value for all our stakeholders,” said Sanlam CEO Ian Kirk.
Despite the generally upbeat operational performance, the tough economic environment was most evident in its recurring premium businesses which are primarily focused on the middle-income market. Declining consumer disposable income meant that new business volumes rose marginally over 2018.
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