Sanlam Restricted Audited Annual Outcomes for the Yr ended 31 December 2020
Sanlam Restricted Group
Integrated within the Republic of South Africa
(Registration quantity 1959/001562/06)
‘Sanlam’, ‘Sanlam Group’, or ‘the Firm’
JSE Share code (Major itemizing): SLM
A2X share code: SLM
NSX share code: SLA
ISIN: ZAE000070660
Sanlam Restricted Audited Annual Outcomes for the yr ended
31 December 2020
Key options
Earnings
• Internet end result from monetary providers decreased by 13%
• Internet operational earnings decreased by 23%
New enterprise
• New enterprise volumes exceeded R300 billion for the primary time, up 25% to
R311 billion
• Internet fund inflows of R62 billion in comparison with R57 billion in 2019
• Internet worth of recent coated enterprise decreased by 16% to R1 921 billion
• Internet new coated enterprise margin of two,58% (2,98% in 2019)
Group Fairness Worth
• Group Fairness Worth per share of R59.20 (2019: R64.36)
• Return on Group Fairness Worth per share of -2.8% (2019: 6.4%)
• Adjusted Return on Group Fairness Worth per share of two.6% (2019: 11.9%)
Capital administration
• Discretionary capital of R636 million at 31 December 2020
• Sanlam Group SAM cowl ratio of 191% (2019: 211%)
Dividend
• Dividend of 300 cents per share (2019: 334)
SALIENT RESULTS
for the yr ended 31 December 2020                                       Measure           2020        2019         
SANLAM GROUP
Group Fairness Worth
Group Fairness Worth                                                        R million    131 812 143 271           (8%)
Group Fairness Worth per share                                                 cents        5 920      6 436       (8%)
Return on Group Fairness Worth per share                                           %         (2.8)        6,4
Adjusted Return on Group Fairness Worth per share                                  %           2,6       11,9
Earnings
Internet end result from monetary providers                                        R million       8 382      9 674      (13%)
Internet operational earnings                                                  R million       8 349     10 798      (23%)
Headline earnings                                                         R million       9 249      7 481       24%
Normalised weighted common variety of shares (1)                            million     2 226,7    2 208,5           1%
Weighted common variety of shares (1)                                       million     2 087,8    2 090,0               –
Internet end result from monetary providers per share                                 cents        376,4      438,0      (14%)
Internet operational earnings per share                                           cents        374,9      488,9      (23%)
Fundamental headline earnings per share                                            cents        448.5      361.8       24%
Diluted headline earnings per share                                          cents        443.0      357.9       24%
Fundamental revenue attributable to the shareholders’ fund per
share                                                                        cents        138.8      345.8      (60%)
Diluted revenue attributable to the shareholders’ fund per
share (1)                                                                    cents        137.1      342.1      (60%)
Enterprise volumes
New enterprise volumes                                                      R million    310 875 249 323           25%
Internet fund inflows                                                          R million      61 563     56 766           8%
Internet new coated enterprise
Worth of recent coated enterprise                                           R million       1 921      2 280      (16%)
Lined enterprise PVNBP (2)                                              R million      74 591     76 446       (2%)
New coated enterprise margin                                                    %          2,58       2,98
Solvency cowl
Sanlam Group                                                                     %          191         211
Sanlam Life Insurance coverage Restricted                                                    %          257         253
Sanlam Life Insurance coverage Restricted coated enterprise                                   %          197         206
(1) Weighted common variety of shares excludes Sanlam shares held immediately or not directly via consolidated
funding funds in policyholder portfolios, in addition to Sanlam shares held by the Group’s Broad-Primarily based Black
Financial Empowerment particular functions car (B-BBEE SPV) that's consolidated by way of Worldwide
Monetary Reporting Requirements. These shares are handled as shares in subject for functions of normalised weighted
common variety of shares, that are used for the per-share metrics for the Shareholders’ fund info.
(2) PVNBP = current worth of recent enterprise premiums and is the same as the current worth of recent recurring premiums
plus single premiums.
The Group commenced the 2020 monetary yr from a strong and powerful footing to navigate the
challenges confronted via the yr. The outbreak of the COVID-19 pandemic, adopted by the
declaration of states of catastrophe and emergency in a number of international locations the place we function, abruptly
remodeled the working setting into some of the difficult intervals confronted by the
Group and our stakeholders since our itemizing greater than 20 years in the past.
The enterprise was resilient via this tough interval with internet end result from monetary providers
declining by 13%, impacted by COVID-19 and associated market situations as set out within the
Built-in Report.
New enterprise volumes elevated by 25%, with Sanlam Rising Markets (SEM) and Sanlam
Funding Group (SIG) recording sturdy development. Life insurance coverage volumes elevated by 4% relative
to the 2019 monetary yr and basic insurance coverage volumes improved by 3%. Funding enterprise
was the important thing driver of total quantity development, rising by 37%. General Group internet fund inflows of
R62 billion in 2020 (8% greater than 2019) is a very passable efficiency given the
difficult market situations.
Internet VNB declined by 16% to R1 921 million at precise rates of interest and 14% on fixed financial
assumptions. Each Sanlam Life and Financial savings (SLS) and SEM skilled decrease VNB in 2020
relative to 2019, impacted by elevated lapse assumptions and better acquisition and
upkeep unit prices.
Shareholders are suggested {that a} last gross money dividend of 300 cents per share was declared for
the yr ended 31 December 2020, a lower of 10% on the prior yr dividend. The dividend is
payable on Monday, 12 April 2021 by the use of digital financial institution transfers to extraordinary shareholders
recorded within the register of Sanlam at shut of enterprise on Friday, 9 April 2021. The final date to
commerce to qualify for this dividend shall be Tuesday, 6 April 2021, and Sanlam shares will commerce ex-
dividend from Wednesday, 7 April 2021. Share certificates might not be dematerialised or
rematerialised between Wednesday, 7 April 2021 and Friday, 9 April 2021, each days included.
Shareholders who haven't but supplied their banking particulars for dividend funds are requested
to take action by contacting Sanlam’s switch secretary, Computershare, at 0861 100 913 or +27 (0)11
370 5000.
The South African dividend withholding tax regime applies in respect of this dividend. The dividend
in full shall be topic to the 20% withholding tax, the place relevant, which lead to a internet dividend, to
the shareholders who usually are not exempt from paying dividend tax, of 240 cents per share. The
variety of extraordinary shares in subject within the firm’s share capital as on the date of the declaration
is 2,061,645,628 excluding treasury shares of 165,328,780 at 31 December 2020. The corporate’s
tax reference quantity is 9536/346/84/5.
This short-form outcomes announcement is the accountability of the Sanlam board of administrators and is
a abstract of the data contained within the full announcement which will be discovered at:
https://senspdf.jse.co.za/paperwork/2021/jse/isse/slm/SLMFY20.pdf and obtainable on the Sanlam
web site at www.sanlam.com. Direct firm hyperlink to full announcement: http://sanl.am/nT3Uz
Whereas this report, in itself, will not be audited, the audited consolidated annual monetary statements from
which the summarised consolidated monetary statements have been derived have been audited by the
Group’s auditors, Ernst & Younger. Their unmodified audit report, together with key audit issues relating
to the valuation of insurance coverage contract liabilities, valuation of unlisted monetary devices and the
valuation of strategic investments for impairment testing, together with the audited consolidated
annual monetary statements can be found for inspection on the Firm’s registered workplace and in addition
obtainable on Sanlam’s web site at http://sanl.am/MzYCH
Copies of the complete audited outcomes can be found for inspection at, or could also be requested from,
Sanlam’s registered workplace and the places of work of its sponsor throughout workplace hours, at no cost. Any
funding resolution needs to be based mostly on a consideration of the complete audited outcomes.
SANLAM LIMITED
Registered workplace: 2 Strand Highway, Bellville, 7530, South Africa
Sanlam Investor Relations
Tel: +27 21 947 8455
E-mail: [email protected]
JSE SPONSOR
The Customary Financial institution of South Africa Restricted
Registered workplace: 30 Baker Avenue, Rosebank, Johannesburg, 2196, South Africa.
11 March 2021
Date: 11-03-2021 07:05:00
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