The original article can be found here.
Article highlights:
- SA’s biggest short-term insurer Santam warned on 15 May that its profit margins fell below the bottom end of its target range in its first quarter to end-March, hit by claims from adverse weather as well as load shedding-related power surges.
- Net underwriting margin for the period in its conventional insurance was below the bottom end of the target range of 5% to 10%.
- The company said that despite this, the group showed “operational resilience and achieved sound financial results for the period”.
