Santam

Santam is a South African financial services group that also has business interest in Malawi, Tanzania , Uganda, Zimbabwe and Zambia.[2] Santam's head office is located in Bellville in the Western Cape, South Africa. The company is listed on the Johannesburg Stock Exchange (JSE) and is South Africa's largest short-term insurer.[3][4][5]

Santam Limited
TypePublic company
JSE: SNT
Industryfinancial services
FoundedMarch 28, 1918 (1918-03-28)
Headquarters
Tyger Valley, Bellville
,
South Africa
Key people
Lizé Lambrechts (CEO);
Hennie Nel (CFO);
Grant Gelink (Chairman)
ProductsShort-term insurance
Revenue R25,909 billion (2016)[1]:109
R1.855 billion (2016)[1]:109
R739 million (2016)[1]:109
Total assets R29.276 billion (2016)[1]:108
Total equity R7.345 billion (2016)[1]:108
OwnersSanlam (61.5% - 2016)
Number of employees
5 749 (2016)
Websitewww.santam.co.za

Santam has refused to honor COVID19 related Business Interruption Insurance claims despite the Industry Regulator, the South African Financial Sector Conduct Authority (FSCA) communication 34 of 2020 (INS) and a judgement of a full bench of the Cape High Court (Case 6499/2020 Ma-Afrika Hotels vs Santam).

History

The Suid-Afrikaanse Nasionale Trust en Assuransie Maatskappy (South African National Trust and Assurance Company Limited) (Santam) was established on 28 March 1918. One month later the South African Life Assurance Company (Sanlam) was established as a full subsidiary of Santam to focus on life assurance while Santam remained focussed on short-term insurance.[6] Financial group Sanlam has an effective 61.5% interest in Santam as of 31 December 2016.[1]:23

Leadership

As of 1 March 2017, Santam's executive management consist of:[1]:74

  • Chief Executive Officer: Lizé Lambrechts
  • Chief Financial Officer: Hennie Nel
  • Claims and Group Sourcing: Ebrahim Asmal
  • Brand and Marketing: Mokaedi Dilotsotlhe
  • Santam Commercial and Personal: Edward Gibbens
  • Santam Specialist: Quinten Matthew
  • Risk services: John Melville
  • People and transformation: Jeanett Modise
  • Market development – CSI: Temba Mvusi
  • Chief executive officer of MiWay: René Otto
  • Operations and IT: Kevin Wright

Major shareholders

Below is the group's largest shareholders as at 31 December 2017:[1]:126

Majority shareholders 31 December 2016 (%)
Sanlam58.77
Public shareholders30.85
Government Employees Pension Fund5.14
Guardian National Insurance Ltd3.84
Trustees of employees’ share scheme1.37
Directors0.03

References
  1. "Santam Integrated Report 2016" (PDF). Santam. 31 December 2016.
  2. "Santam, Sanlam satisfy customers most". Fin24. 3 April 2013. Retrieved 5 September 2014.
  3. "Santam Limited JSE Share Price in Fin24". Fin24. Retrieved 5 September 2014.
  4. Mzwandile Jacks (12 August 2014). "Santam Profit Explosion Boosted By Improved Investments". Ventures Africa. Retrieved 5 September 2014.
  5. Sapa (27 August 2014). "Insurers won't pay for quake damages". The New Age Online. Retrieved 5 September 2014.
  6. Phakamisa Ndzamela (28 August 2014). "Healthier Santam keeps eye on weather". Business Day. Retrieved 5 September 2014.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.