The report covers the financial year for the 12 months ended 31 December 2013. The report highlights the company's growth in a market under significant social and economic pressure. Net underwriting margins were disappointing following an unrelenting series of weather-related disasters. The loss ratio was also significantly impacted by the devaluation of the rand. The report also details the company's sustainability framework and engagement with its stakeholders, focusing on its Business Adopt-a-Municipality (BAAM) initiative and its efforts in supporting a sustainable insurance industry. The report also covers the company's strategic plans, including its international diversification strategy.
Issuing Company Santam Ltd.
Report Type Integrated Report
Report Language EN
Report Filesize 3.3 MB
No. of Pages 140 pages
Reporting periodJanuary 1, 2013-December 31, 2013
Report EditionUnknown
Assurance Provider PricewaterhouseCoopers Inc; AQRate; Ernest & Young
Reporting Standards King III; IFRS; JSE Listings Requirements; others
Materiality Assessmenttrue