Sanlam reports that most withdrawals came from financially strained members in mid-life, with little evidence that funds were used to reduce debt. Instead, spending patterns suggest pressure to cover everyday expenses.
Danie van Zyl of Sanlam Corporate Investments warns that allowing access to retirement components in retrenchment cases might jeopardise long-term savings and place added pressure on trustees.
The group recorded double-digit earnings, robust new business volumes, and an increased dividend, all underpinned by its tri-regional focus.
With the integration of Assupol well under way, Sanlam is working to streamline its operations and enhance its market position.
After months of speculation, Sanlam has officially partnered with Fedhealth as its exclusive open medical scheme provider.
The financial sector stands out with leading companies like RMB, Sanlam, Momentum, and Santam earning Top Employer status for 2025.
The ruling underscores that disputes over unapproved disability claims underwritten by insurers through employer-held policies must be addressed with employers and insurers.
Santam will pay Sanlam Life R925 million to buy 60% of the A1 ordinary shares in NMS Insurance Services.
Ninety One will acquire Sanlam Investment Management and oversee investment management for Sanlam Investments UK.
The group’s new business volumes in life insurance grew by 12%, while net operational earnings rose by 17%.
In September, Sanlam received more than 83 000 withdrawal claims, with most coming from members aged 35 to 44, many of whom had a replacement ratio below 50%.
Sanlam’s Pink Tax survey found that 24% of women reported that pink tax affects their choices in selecting financial products, services, and providers.
King Price came out top in DataEQ’s latest Insurance Sentiment Index, which analyses what consumers are saying about their insurers.
Sanlam gained market share in individual underwritten life insurance, supported by strong single-premium growth and stable persistency in the affluent segment.
As the two-pot system rolls out, fund administrators are receiving a wave of withdrawal claims, highlighting the financial squeeze many are feeling.
Following its recent R6.5bn acquisition of Assupol, Sanlam wants to expand its footprint in the financial services industry with a 25% stake in ARC FSH.
Long-standing winners such as Western National and Santam retained their titles, while iTOO re-emerged as the Underwriting Manager of the Year.
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