Santam Limited (Jan 2023)


The Santam group offers a full bouquet of short-term insurance solutions through various domestic and offshore licences. The insurer was founded in 1918. Sanlam Limited (“Sanlam”) held a majority shareholding of 59.2% in Santam at FY21, with 5.6% of shares held by the Government Employees Pension Fund. The balance comprised free float of 29.9%, treasury shares of 4.1% and director holdings of 0.1%. The business portfolio encompasses conventional insurance business and ART solutions. Conventional business includes Santam Commercial and Personal, which operates in South Africa and Namibia through intermediaries, strategic partnerships and direct channels. In addition, Santam Specialist covers agriculture, niche and Pan-African partnerships with Sanlam Pan-Africa General Insurance business (“SPA GI”), previously Saham Finances SA. Reinsurance business is undertaken through Santam Re, which participates on both group and non-group risks. MiWay Insurance (“MiWay”) writes the group’s direct business. ART business is conducted through Centriq Insurance and Santam Structured Insurance. The two business units operate both general and life licences, with little underwriting participation on life business.

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