Company News & Results / Santam

Santam announces its new brand repositioning as it ushers in a new era

Santam records improved performance in first half of 2024

Santam acquires Kandua, leading tech startup

Santam, South Africa’s largest short-term insurer, has wholly acquired Kandua, a leading online marketplace company for home services. Kandua will merge with Santam’s existing home service offering, Home+, forming a wholly owned, independent subsidiary of the insurer.

Super profit weighted by soft underwriting margin

The 2023 full-year results published by Santam Limited (JSE: SNT) on 29 February 2024 were somewhat of a Jekyll and Hyde affair, juxtaposing a healthy rise in both earnings per share (EPS) and headline earnings per share (HEPS) with a disappointing underwriting result. During the 12-month period HEPS surged by 27% while the underwriting margin came in at just 3.5%, well below the insurer’s long-term target of 5-10%. The underwriting margin in the prior year was 5.1%.