Santam ups dividend even as claims hit record R29.8bn in 2022

SA's largest insurer paid the highest claims in its history thanks to a perfect storm of floods, fires, power surges and rising crime

Santam has upped its final dividend despite a challenging 2022 that saw it pay out a record R29.8bn in gross claims due to flooding, load-shedding-related power surges, fire and crime.

SA’s largest short-term insurer raised its final dividend to 845c per share for the year to end-December 2022, up 7% from 790c the prior financial year. The higher shareholder payout was despite an almost 27% drop in headline earnings to 1,826c per share for the year, down from 2,495c per share in the prior reporting period...

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