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Skip Navigation LinksFinancial Results

​2013 Interim Results

The Group achieved exceptional operating earnings growth in 2013. Organic growth contributed 71% of the growth and was achieved by extrac​ting more value from existing businesses, improving efficiencies and reducing costs. Acquisitions made with surplus capital contributed 29% of earnings growth. We had particular success with approach in India, Malaysia and Namibia.

Highlights

"We are pleased with these results. It reaffirms our confidence in our strategy and supports our resolve to continuously deliver value to our shareholders. We are also satisfied with the good progress we are making from our investments in emerging markets."
Dr Johan van Zyl, Sanlam Group Chief Executive

23%

per share increase in Net Result Earnings

37%

growth in New Business Volumes

14.3%

return on Group Equity Value per share​

Dr Johan van Zyl

Key Features

Earnings

  • Net result from financial services per share increased by 23%
  • Normalised diluted headline earnings per share up 35%

Business Volumes

  • New business volumes up 37% to R83 billion
  • Net value of new covered business up 20% to R587 million
  • Net new covered business margin of 2,83%
  • Net fund inflows of R13 billion

Group Equity Value

  • Group Equity Value per share of R37,47
  • Annualised return on Group Equity Value per share of 14,3%

Capital Management

  • Discretionary capital of R3.2 billion at 30 June 2013
  • Sanlam Life Insurance Limited Capital Adequacy Requirements (CAR) cover of 3,9 times

Salient Results

for the six months ended 30 June 2013

R million 2013 2012 %
Sanlam Group
Earnings
Net result from financial services per share cents 118,1 96,2 23
Normalised headline earnings per share(1) cents 169,1 125,5 35
Diluted headline earnings per share cents 171,4 120,1 43
Net result from financial services R million 2 409 1 946 24
Normalised headline earnings(1) R million 3 449 2 539 36
Headline earnings R million 3 474 2 408 44
Group administration cost ratio(2) % 29,3 30,4
Group operating margin(3) % 20,5 19,9
Business Volumes
New business volumes R million 83 244 60 977 37
New fund inflows R million 12 611 10 183 24
Net new covered business
Value of new covered business R million 587 491 20
Covered business PVNBP(4) R million 20 731 17 150 21
New covered business margin(5) % 2,83 2,86
Group Equity Value
Group Equity Value(5) R million 76 609 75 352  
Group Equity Value per share(6) cents 3 747 3 707  
Annualised return on Group Equity Value per share(7) % 14,3 18,4
Sanlam Life Insurance Limited
Shareholders' fund(6) R million 55 481 55 466
Capital adequacy requirements (CAR)(6) R million 7 250 7125
CAR covered by prudential capital(6) times 3,9 4,3

Net result from financial services per share

cents
2013: 118,1
2012: 96,2
%: 23

Normalised headline earnings per share(1)

cents
2013: 169,1
2012: 125,5
%: 35

Diluted headline earnings per share

cents
2013: 171,4
2012: 120,1
%: 43

Net result from financial services

R million
2013: 2 409
2012: 1 946
%: 24

Normalised headline earnings(1)

R million
2013: 3 449
2012: 2 539
%: 36

Headline earnings

R million
2013: 3 474
2012: 2 408
%: 44

Group administration cost ratio(2)

%
2013: 29,3
2012: 30,4
%:

New business volumes

R million
2013: 83 244
2012: 60 977
%: 37

New fund inflows

R million
2013: 12 611
2012: 10 183
%: 24

Net new covered business
Value of new covered business

R million
2013: 587
2012: 491
%: 20

Net new covered business
Covered business PVNBP(4)

R million
2013: 20 731
2012: 17 150
%: 21

Net new covered business
New covered business margin(5)

%
2013: 2,83
2012: 2,86
%:

Group Equity Value(5)

R million
2013: 76 609
2012: 75 352

Group Equity Value per share(6)

cents
2013: 3 747
2012: 3 707

Annualised return on Group Equity Value per share(7)

%
2013: 14,3
2012: 18,4

Shareholders' fund(6)

R million
2013: 60 542
2012: 55 466

Capital adequacy requirements (CAR)(6)

R million
2013: 7 250
2012: 7 125

CAR covered by prudential capital(6)

times
2013: 3,9
2012: 4,3

(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 2012.

(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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