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February 26, 2008

Solid performance for Santam's local operations

Santam, South Africa's largest short-term insurer, achieved a 9% increase in gross written premiums for the year ended 31 December 2007, but its international business disappointed whilst its investment income was hard hit by the recent turmoil in financial markets.

Although investment income for the year exceeded expectations, it ended well below the exceptional levels of 2006. The company successfully concluded its capital restructuring program during 2007.

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Posted by StaffWriter at February 26, 2008 9:02 AM