- Sanlam delivers steady financial results for 2024, reflecting resilience in a changing market.
- The company advances innovation while navigating challenges in the insurance and financial services sector.
Sanlam’s 2024 results show resilience
Sanlam, a leading financial services group, reported strong annual results for 2024, underscoring its resilience amid global economic uncertainties. The company’s revenue increased steadily, driven by growth in insurance premiums and investment income. Sanlam’s diversified portfolio and strategic focus on innovation helped cushion it against market volatility, while continued investment in digital platforms improved customer engagement and operational efficiency. The group’s robust performance highlights its ability to adapt within the dynamic financial sector.
The latest financial report revealed key improvements across core divisions, including life insurance, wealth management, and asset management. Despite economic challenges, the company maintained solid capital adequacy ratios and prudent risk management. CEO Paul Hanratty noted that the focus remains on sustainable growth and delivering value to clients in an evolving marketplace.
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Industry context and Sanlam’s heritage
Founded in 1918, the company’s history reflects consistent adaptation, from traditional insurance to a broader financial services offering. Today, the sector faces challenges such as regulatory pressures, digital disruption, and shifting consumer expectations. Sanlam has responded by accelerating innovation, including expanding its use of data analytics and AI to improve underwriting and client services.
Sanlam’s long-standing reputation in the insurance industry is matched by its commitment to sustainability and inclusivity, aligning with global trends in responsible finance. The group is investing heavily in technology to streamline operations and deliver personalised solutions. These efforts position Sanlam to meet the demands of a more interconnected and digitally savvy customer base while confronting industry-wide challenges like rising claims costs and low-interest environments.
