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​2017 Annual Results

We achieved a return of 14,8% for Sanlam shareholders in 2017 as measured by Return on Group Equity Value (RoGEV). This is a resilient performance in a year where our core South African market faced one of its most challenging periods in the last decade, and a fitting tribute to Sanlam’s sustainability as we enter our centenary year in 2018.

Highlights

"Sanlam’s strategy has remained largely unchanged since 2003. We highlighted before that our strategy is by no means unique, but that our ability to execute has set us apart from our peers. This diligent focus on execution enabled us to achieve satisfactory growth in 2017 and double-digit average growth rates in all key performance indicators over the last 10 years, apart from new business volumes. ".
Ian Kirk, Sanlam Group Chief Executive

7%

increase in Net Result from financial services

1%

Decline in New Business volumes

14.8%

Return on Group Equity Value per share

Ian Kirk

Key Features

Earnings

  • Net result from financial services per share increased by 7% (up 10% in constant currency)
  • Normalised headline earnings per share up 18%
  • Diluted headline earnings per share down 1%

Business Volumes

  • Net value of new covered business up 15% to R1.8 billion (up 17% in constant currency)
  • Net new covered business margin of 2,94% (2,69% in 2016)
  • New business volumes declined by 1% to R230 billion
  • Net fund inflows of R35 billion compared to R41 billion in 2016

Group Equity Value

  • Group Equity Value per share of R59,40
  • Return on Group Equity Value per share of 14,8%
  • Adjusted Return on Group Equity Value per share of 15,8%; exceeding target of 13,2%

Capital Management

  • R4,2 billion of capital released; R2.8 billion deployed in strategic investments
  • Unallocated discretionary capital of R2 billion at 31 December 2017
  • Sanlam Group Solvency Assessment and Management (SAM) cover ratio of 2,2 times; Sanlam Life Insurance Limited at 2,7 times
  • Sanlam Life Insurance Limited Capital Adequacy Requirement (CAR) cover of 5,8 times
  • Acquisition of remaining 53.4% stake in Saham Finances announced

Dividend

  • Normal dividend per share of 290 cents, up 8,2%

 

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