Kaya 959 Kaya Biz

Santam hammered by worst natural catastrophe in its history.

Loading player...
The net underwriting margin for conventional insurance was 2.3% (June 2021: 6.7%), below the group’s target range of 5% to 10%. A significant contributor to the underwriting results were the devastating floods that affected KwaZulu-Natal (KZN) during April 2022. These were, however, offset to some extent by a reduction in the COVID-19 related contingent business interruption (CBI) claims provisions. The current estimate of Santam’s gross exposure to the KZN floods is R4.4 billion, however, significant adjustments to gross exposures may still occur. The company’s reinsurance programme has provided effective protection against this natural catastrophe, limiting the net impact to R566 million, including reinsurance reinstatement premiums. The KZN floods were the most significant natural catastrophe in Santam’s history.

During the period, headline earnings decreased to 409 cps (June 2021: 863cps), due to weaker operating results and lower investment income attributable to shareholders.
1 Sep 2022 4AM English South Africa Business News · Investing

Other recent episodes

Omnia FY26 Operating Profit Up 28% on Mining & Agri Recovery

Omnia’s FY26 results show strong momentum across mining, agriculture, and chemicals, with operating profit up 28% and margins rising to 9%. CEO Seelan Gobalsamy discusses the group’s cash strength, international expansion, dividend strategy, and how Omnia is navigating global volatility while driving sustainable growth.
8 Jun 4PM 14 min

South Africa’s Youth Are Driving Earned-Wage Access

New Youth Month data shows that over half of Paymenow’s earned‑wage access activity comes from South Africans under 35. Paymenow's Denise Neethling explains how young workers are using small top-ups to manage cash flow, why transport and food dominate spending, and how financial-education tools and savings features are reshaping youth…
8 Jun 4PM 13 min

PPC Unlocks Giant Turnaround as FY26 Margins Break 20%

PPC has delivered its second consecutive year of turnaround gains, with EBITDA up 31% and margins breaking above 20%. CEO Matias Cardarelli unpacks the drivers behind the performance, the R3.1 billion RK3 megaproject, Zimbabwe’s record dividend payout, and what FY26 signals for the future of South Africa’s cement industry.
8 Jun 4PM 16 min

Buy-Now-Pay-Later Is Reshaping SA’s Credit Ecosystem

Buy Now Pay Later is no longer niche — it’s a gateway to financial inclusion. Dean Hyde from PayJustNow unpacks new research showing that 37% of BNPL users are new‑to‑credit or underserved, why BNPL users often outperform traditional borrowers on repayment, and how BNPL is evolving into a pathway to…
8 Jun 4PM 9 min

Jetour T2 Makes History: How a Newcomer Won SA Car of the Year

For the first time in 40 years, a Chinese brand has taken South Africa’s top automotive honour. The Jetour T2 beat 55 contenders to win Car of the Year 2026. Vice President for Jetour South Africa Nic Campbell explains what set the T2 apart, why Chinese brands are rising so…
5 Jun 5AM 11 min
All episodes