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A summary of our financial year’s performance.

2022 Annual results

Return on Group Equity Value per share

+4,2%

Net results from financial services

+8%

Life insurance new business volumes

R64,8bn
-5% on a comparative basis


Net value of new covered business (VNB)

R2 388 million
-14% (R2 731 million, -1% on a constant economic basis)

Net VNB margin

2,72%
(2021: 2,87%) 3,06% on a constant economic basis


View results summary

10-month operational update

The Sanlam Group recorded satisfactory performance for the first 10 months of 2022, amid a challenging operating environment from volatility in global equity markets, sustained higher inflation and the resulting interest rate increases. The Group’s diverse portfolio and leading competitive positioning supported earnings, with strong results in the life insurance, credit and investment management businesses offsetting weak general insurance results. General insurance earnings were under pressure due to significant claims inflation, market volatility and, in South Africa, high levels of electrical power-surge and vehicle theft-related claims, in addition to the adverse weather conditions and catastrophic floods in KwaZulu-Natal reported in the first half of the year.

Net result from financial services

-1% on 2021
+10% on 2021 excluding one-off items

New business volumes

-4% on 2021 Life Insurance business (excluding UK disposals)
-6% on 2021 Investment business
+5% on 2021 General Insurance business

Net value of new business (VNB)

-14% on 2021
-1% on 2021 on a constant economic basis


Group net client cash inflows

R57,4 billion
-6% on 2021


SENS announcement Press release Investor call recording

2022 Interim results

Return on Group Equity Value per share

-2,8% for the six-month period
adjusted RoGEV of 6.8% (14,1% annualised)

Net result from financial services

+1% Overall performance
+23% Life Insurance
+25% Investment Management
+22% Credit and Structuring
-57% General Insurance

Life insurance new business volumes

R33,2bn
-1% on comparative basis


Net value of new covered business (VNB)

R1 076m (constant economic basis: R1 264m)
-17% (constant economic basis: -2%)

Net VNB margin

2,50%
2,89% on a constant economic basis


View results summary

Four-month operational update

The Sanlam Group recorded a resilient performance for the first four months of 2022, in which we saw global supply chains disrupted, global financial markets decline in the face of the Russian invasion of Ukraine, inflation surge globally and KwaZulu-Natal experience catastrophic flooding. The Group posted creditable earnings, with strong results in the life insurance and investment management businesses offsetting weak general insurance and credit results.

Net result from financial services

-7% on 2021
+8% on 2021 excluding one-off items

New business volumes

+8% on 2021 Life Insurance business excluding UK business sold
-8% on 2021 Investment business
+4% on 2021 General Insurance business

Net value of new business (VNB)

-16% on 2021
-8% on 2021 on a constant economic basis


Group net client cash inflows

R26,7 billion
-5% on 2021


SENS announcement Press release Investor call recording