Strong Profit Growth
Net result from financial services is up by 15% and net operational earnings also up by 15%. On a normalized basis, both are up 20%.
Successful Integration and Synergies
Integration of SanlamAllianz and Assupol exceeded synergy expectations, contributing to overall performance.
General Insurance and Investment Performance
General insurance premiums and investment business new business growth were extremely pleasing, with net new client cash flow adding just under ZAR 50 billion to assets under management.
Improved Financial Adviser Productivity
Despite a 17% reduction in the adviser force due to the Assupol integration, productivity increased by 23%, and churn decreased by 85%.
Strong Performance in South Africa and India
Excellent results in South Africa, particularly in life insurance profits and Santam's performance. India reported strong new business volumes and adjusted return on group equity value.