Santam reports 186% rise in operating income
South African insurer Santam saw a 186% increase in operating income, from R257m (£20.8m) to R735m. ...
South African insurer Santam saw a 186% increase in operating income, from R257m (£20.8m) to R735m.
The company's net claims ratio decreased by 6% to 64.8% in 2003. Steffen Gilbert, chief executive of Santam, said: "The decrease was largely due to the strength of the underwriting cycle and continued strict underwriting discipline."
In the UK, the Westminster Motor Insurance Association results were included in the group's results for the first time this year. Taken together with the participation
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