KZN floods hit Santam hard

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[LISTEN] ‘We’ve seen a very tough H1... I’ll characterise it as a perfect storm of weather, investment volatility, economic pressure from inflation and load shedding’ - Santam CEO Tavaziva Madzinga. MoneywebNews

My name is Nzinga Qunta, standing in for Fifi Peters. Santam is a South African financial services group. It also has interests across our continent in areas including Malawi, Tanzania, Zimbabwe, Zambia and Uganda. Santam has come out with its results [for the half-year to June 2022] and CEO Tava Madzinga joins me now. A very good evening to you. Thanks so much for your time on the Market Update this evening.

That’s a bit of good news despite the tumultuous H1, where our business still did grow by 7% across the board. So we saw good growth coming through in our Santam Re business and in the core of our commercial and personal lines business. So despite the pressure that we are seeing in the economy, we are still seeing growth in our business.

We spoke about your businesses not just being based in South Africa. There is Sanlam Emerging Markets general insurance business, and there’s something in India. Talk to us about that.

 

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