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Rise in profits at Santam

March 11, 2010

SOUTH AFRICA-based non-life insurer Santam, which is majority-owned by locally based financial services group Sanlam, has reported a gain of Rand1.12bn ($150.5m) for 2009, up from Rand745m in 2008, on gross written premiums of Rand15.0bn, up 6% year on year. Investment income declined 26% year on year to Rand707m. Net gains on financial assets reached Rand479m, compared with a loss of Rand721m in 2008. The net underwriting margin declined to...

Old Mutual prepares sales

March 11, 2010

SOUTH AFRICA-based financial services group Old Mutual said this morning that it was “exploring the...

Chile quake to prompt solvency discussions across South America

March 09, 2010

THE CHILEAN earthquake is expected to prompt discussions throughout Latin and South America as to...

New crop insurance system in Kenya

March 09, 2010

MICRO-insurance service Kilimo Salama, or “safe farming” in the Kishwali language, was launched in Kenya...

Aviva seeks Russian assurers on the cheap

March 09, 2010

UK-BASED composite Aviva has been looking to buy Russian players at less than 25% of...

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