By Reuters Staff
2 Min Read
JOHANNESBURG (Reuters) - South Africa’s Sanlam reported a 24% rise in annual profit on Thursday and declared a dividend, as the insurer benefited from the absence of hefty one-time charges that marred its results last year.
The logo of South Africa s largest insurer Sanlam is seen outside the company s headquarters in Cape Town, South Africa March 12, 2020. REUTERS/Mike Hutchings
The country’s largest insurer had already flagged an increase in headline earnings per share (HEPS) - South Africa’s main profit measure - of up to 29%.
That stood at 448.5 cents in the year to Dec. 31, the first full-year report under new Chief Executive Paul Hanratty who joined in July.