Santam H1 2026 slides: 8.1% margin holds despite R1.5bn weather hit
South African insurer Santam reported its first-half 2026 results on September 3, maintaining an underwriting margin of 8.1 percent despite facing a weather-related catastrophe and other large losses of R1.5 billion. Net income rose by 7 percent to R2.192 billion, while gross written premium increased by 10 percent, matching the previous year's growth rate.
The board raised the interim dividend by 10.2 percent to 650 cents per share, extending the company's record of 35 consecutive years of dividend payments. CEO Tavaziva Madzinga and CFO Wikus Olivier cited a more challenging global backdrop, including elevated geopolitical tensions, fuel inflation, and softening reinsurance rates, as factors impacting the results.
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