Santam's share price surges 5% following strong operational update

SHORT term insurer Santam's share price surged over 5% on Tuesday afternoon after the release of an operational update for the nine months to September 30 showing the group continues to deliver a strong performance since the end of June this year.

- EDWARD WEST

Results for the period exceeded the longer-term targets for all key financial performance indicators, the directors reported. Highlights include double-digit growth in gross written and net earned premiums, an underwriting margin above the upper end of the 5% to 10% target range and annualised return on capital in excess of 30%, Santam's directors said.

Net income growth was in line with the first half. The share price was trading 5.19% higher at R438.81 late in the afternoon.

The conventional insurance business grew net earned premium growth by 16%, with solid contributions from all major businesses except for Santam Specialist Solutions.

MiWay's growth accelerated, achieving solid double-digit growth in gross written and net earned premiums. Business insurance continued to perform "exceptionally well", with personal lines growth accelerating since the end of June 2025.