Sanlam has some very profitable businesses and prized assets, such as a 60% shareholding in Santam, and has grown non-SA earnings over the past few years. Concerns around Sanlam’s investment case mainly relate to the execution/integration risk around the Saham acquisition.
JP Morgan Cazenove, October 2018
Single premiums are a strong driver of value in the affluent market –Sanlam has done best to capture this value.
Absa Equity Research, July 2018
Sanlam stands out in a tough environment, buying share in the affluent space and gaining share in the entry level through Capitec.
UBS, September 2018