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Skip Navigation LinksFinancial Results

2012 Interim Results

Highlights

"We are pleased with our performance and despite the economic and regulatory challenges in our industry, we remain confident that we have the depth of skills and experience to withstand these challenges."
Dr Johan van Zyl, Sanlam Group Chief Executive

14%

per share increase in Net Result Earnings

11%

growth in New Business Volumes

18.4%

return on Group Equity Value per share

Dr Johan van Zyl

Key Features

Earnings

  • Net result from financial services per share increased by 14%
  • Normalised diluted headline earnings per share up 16%

Business Volumes

  • New business volumes up 11% to R61 billion
  • Net value of new covered business up 38% to R491 million
  • Net new covered business margin of 2,86%, up from 2,52%
  • Net fund inflows of R10 billion

Group Equity Value

  • Group Equity Value per share of R32,93
  • Annualised return on Group Equity Value per share of 18,4%

Capital Management

  • Discretionary capital of R4 billion at 30 June 2012
  • Sanlam Life Insurance Limited Capital Adequacy Requirements (CAR) cover of 3,7 times

Salient Results

for the six months ended 30 June 2012

R million 2012 2011 %
Sanlam Group
Earnings
Net result from financial services per share cents 96,2 84,7 14
Normalised headline earnings per share(1) cents 125,5 108,6 16
Diluted headline earnings per share cents 120,1 109,6 10
Net result from financial services R million 1 946 1 716 13
Normalised headline earnings(1) R million 2 539 2 202 15
Headline earnings R million 2 408 2 205 9
Group administration cost ratio(2) % 30,4 29,5
Group operating margin(3) % 19,9 19,8
Business Volumes
New business volumes R million 60 977 55 062 11
New fund inflows R million 10 183 11 418 -11
Net new covered business
Value of new covered business R million 491 356 38
Covered business PVNBP(4) R million 17 150 14 112 22
New covered business margin(5) % 2,86 2,52
Group Equity Value
Group Equity Value(7) R million 66 820 63 521 5
Group Equity Value per share(7) cents 3 293 3 146 5
Annualised return on Group Equity Value per share(6) % 18,4 12,8
Sanlam Life Insurance Limited
Shareholders' fund(7) R million 48 260 45 172
Capital adequacy requirements (CAR)(7) R million 7 250 7 350
CAR covered by prudential capital(7) times 3,7 3,7

Net result from financial services per share

cents
2012: 96,2
2011: 84,7
%: 14

Normalised headline earnings per share(1)

cents
2012: 125,5
2011: 108,6
%: 16

Diluted headline earnings per share

cents
2012: 120,1
2011: 109,6
%: 10

Net result from financial services

R million
2012: 1 946
2011: 1 716
%: 13

Normalised headline earnings(1)

R million
2012: 2 539
2011: 2 202
%: 15

Headline earnings

R million
2012: 2 408
2011: 2 205
%: 9

Group administration cost ratio(2)

%
2012: 30,4
2011: 29,5

Group operating margin(3)

%
2012: 19,9
2011: 19,8

New business volumes

R million
2012: 60 997
2011: 55 062
%: 11

New fund inflows

R million
2012: 10 183
2011: 11 418
%: -11

Net new covered business
Value of new covered business

R million
2012: 491
2011: 356
%: 38

Net new covered business
Covered business PVNBP(4)

R million
2012: 17 150
2011: 14 112
%: 22

Net new covered business
New covered business margin(5)

%
2012: 2,86
2011: 2,52

Group Equity Value(7)

R million
2012: 66 820
2011: 63 521
%: 5

Group Equity Value per share(7)

cents
2012: 3 293
2011: 3 146
%: 5

Annualised return on Group Equity Value per share(6)

%
2012: 18,4
2011: 12,8

Shareholders' fund(7)

R million
2012: 48 260
2011: 45 172

Capital adequacy requirements (CAR)(7)

R million
2012: 7 250
2011: 7 350

CAR covered by prudential capital(7)

times
2012: 3,7
2011: 3,7

(1)Normalised headline earnings = headline earnings, excluding fund transfers.

(2)Administration costs as a percentage of income after sales remuneration.

(3)Result from financial services as a percentage of income after sales remuneration.

(4)PVNBP = present value of new business premiums and is equal to the present value of new recurring premiums plus single premiums.

(5)New covered business margin = value of new covered business as a percentage of PVNBP.

(6)Comparative figures are as at 31 December 2011.

(7)Growth in Group Equity Value per share (with dividends paid, capital movements and cost of treasury shares acquired reversed) as a percentage of Group Equity Value per share at the beginning of the year.

 

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