Sanlam reports strong operational performance amid geopolitical tensions
Sanlam, South Africa-based financial services groups operating in 31 emerging markets, said it had performed strongly in the first quarter of its financial year to end-March, and had substantially bolstered its discretionary capital.
Sanlam on Thursday announced a strong start in its operational update for the three months to March 31, 2025, in a period marked by escalating geopolitical tensions and shifting economic policies.
Earnings, excluding investment return on shareholder funds, for South Africa's biggest non-banking financial services group increased 15%, while operational earnings, including these investment returns, increased by 22%. New business volumes were up by 15%.
'While we are pleased with the performance across all business lines, we are concerned about more serious and long-ranging impacts arising from the tariff policies. It is too early to provide any meaningful update to our earnings considering the uncertainties regarding the impacts of the tariff disputes,' CEO Paul Hanratty said in the quarterly update.
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