Sanlam, results and prospects

At the end of 2016, Sanlam posted a profit down by 4.5%, from 8.8 billion ZAR(571.4 million USD) in 2015 to 8.4 billion ZAR (615.4 million USD) a year ago. This decline was due to the unfavorable movements of currencies and to the low returns on the stock market.

The South African life insurer has also recalled that its acquisition of 53% of the capital of BrightRock, a life company, is currently subject to the approval of the supervisory authorities. The transaction, which will not exceed 52 million USD, will be completed in the first half of 2017.

Read also:

• Sanlam, major shareholder of BrightRock
• The South African insurance market: 2015 results