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

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

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

Net investment return is down 57%, and normalised 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, minimum, to get to growth levels we aspire to… that’s the South African story, but we have a large exposure outside of South Africa…

Ian Kirk, CEO - Sanlam

We’re looking… for an appropriate level of support for the incumbent… [When asked about the upcoming election.]

Ian Kirk, CEO - Sanlam

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