Sanlam earnings tank. To enter Morocco and Egypt in quest to dominate Africa


Sanlam on Thursday reported 10% fall in earnings for the year ended on 31 December 2018.

Normalized headline earnings per share is down 10% to 431.7 cents.

Net investment return is down 57%, and normalized headline earnings fell 8% to R9.1 billion.

The insurer – South Africa 's largest – is planning to enter Morocco and Egypt as it seeks to dominate the entire continent.

The Money Show 's Bruce Whitfield interviewed Ian Kirk, CEO at Sanlam.

Listen to the interview in the audio below (and scroll down for quotes from it).

Lower income, there's a bit of growth … middle and higher income is not so easy.

Ian Kirk, CEO – Sanlam

We're into a slow recovery … five years, we're looking forward to … we're in the South African story, but we've got a big exposure outside of South Africa …

Ian Kirk, CEO – Sanlam

We're looking for an appropriate level of support for the incumbent …

Ian Kirk, CEO – Sanlam

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