Santam projects increase in headline earnings
15 Aug 2018 10:00am
WINDHOEK, 15 AUG (NAMPA) Santam has projected an increase in headline earnings per share (HEPS) from underwriting results for the six months that ended 30 June 2018 to be between 69 per cent and 75 per cent.
Santam announced this on the Namibia Stocks Exchange on Monday.
It said projected growth is higher than the reported HEPS for the comparative period of six months ended the same period in 2017.
The company reported a HEPS of between 1000 cents and 1040 cents, compared to 593 cents per share.
It said the increase in HEPS was driven by improved underwriting results compared to the corresponding period last year.
The net underwriting margin is expected to be slightly above the long-term range of four per cent to eight per cent of net earned premiums due to improved underwriting conditions during the reported period.
The financial information on which Santams trading statement is based, has not been reviewed or reported as its reviewed results for the period that ended 30 June 2018 will be released on 30 August 2018.
Santam is a South African-based insurer that provides general insurance products and services in Southern Africa and is listed on the Namibia Stock Exchange.