Santam Limited

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Santam Limited
  • Santam Limited
  • Year : Feb 2021
3 Tokens
USD 300.00
Summary

The ratings for Santam (comprising Santam Limited and its subsidiaries) have been maintained on Negative Outlook reflecting continued risks emanating from the strained operating environment, most specifically the potential reduction in the financial profile in the wake of the COVID-19 pandemic. Santam’s very strong competitive position is a significant credit positive. The insurer holds leading market positions on multiple strategic business units (“SBU’) and products.

Additional Information

The Negative Outlook reflects the potential for earnings capacity to moderate if further material reserves are raised in FY21, resulting in profit margins underperforming expectations, with volatility likely to increase above levels factored into the current assessment. The Outlook could revert to Stable if earnings capacity reverts to historical levels, supporting risk adjusted capitalisation and liquidity metrics within the current range

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