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The latest half-year numbers published by South Africa’s largest non-life insurer, Santam Limited, suggest that all is well on the domestic risk transfer front, but the 35% lift in headline earnings per share masks a significant shift in exposure from insurer to insured. More on this observation in a moment; first let us unpack the insurer’s interim financial statements for the six-months to end-June 2024.
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.
If you had to choose one approach to protect your hard-earned investment cash from today’s market madness, which would it be?