Sanlam's life insurance, asset management units power ahead

Over the nine months to end-September, a solid performance from Sanlam’s life insurance business - coupled with net inflows into its domestic asset management business – helped to counteract weaker insurance operations, hit by weather events and fire in recent months.

The Bellville-based insurance and investment group’s net result increased by 19%. Operational earnings rose 35% in the period even though new business volumes increased by a comparatively more sedate 13%.

Sanlam’s share price closed the day almost a percent lower at R69.56, after its shares rallied almost 50% over the past year.