Industry Financial services Website www.santam.co.za | Founded 28 March 1918 | |
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Key people Lize Lambrechts(CEO)Hennie Nel (CFO)Grant Gelink (Chairman) Stock price SNT (JSE) 26,200.00 ZAC +50.00 (+0.19%)20 Mar, 5:07 PM GMT+2 - Disclaimer CEO Lize Lambrechts (1 Jan 2015–) Subsidiaries Hegel Street 26 Investments Ltd. Profiles | ||
Santam is a South African financial services group that is headquartered in Cape Town and listed on the Johannesburg Stock Exchange (JSE) and Namibian Stock Exchange (NSE).
Contents
The group is the leading insurer in South Africa with a market share in excess of 22%. The group provides a diversified range of general insurance products and services in southern Africa and internationally through a network of more than 2700 intermediaries and direct channels. The group's more than 1 million policyholders range from individuals to commercial and specialist business owners and institutions.
The group derives revenue from insurance activities and investments. Insurance activities include commercial and personal insurance and alternative risk cover.
The group consists of the Santam branded business units (Santam Commercial and Personal, Santam Specialist and Santam Re) and wholly owned subsidiaries - MiWay, Echelon, Mirabilis and Centriq.
Included in Santam Specialist is a number of specialist underwriting managers. The group also holds a 100% interest in Indwe, an independently managed insurance intermediary business with individual, commercial and corporate clients.
Early in 2015, the group acquired a 100% interest in Brolink, an independently managed insurance administration business. The group holds economic participation in general insurance businesses in Africa, India and Southeast Asia. The group's significant associate companies include: - 34% interest in Credit Guarantee Insurance Company (credit insurer), - 40% interest in Western National Holdings (personal and commercial insurer)
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.
Financial group Sanlam has an effective 60% interest in Santam.
Board of Directors and Executive Management
Santam's board of directors consists of twelve executives who make up the senior management team, with Lize Lambrechts as Chief Executive. Eleven directors serve on the board, headed by current chairman, Grant Gelink.