DOCSLIB.ORG

SANTAM LIMITED (Incorporated in the Republic of South Africa) Registration Number 1918/001680/06 JSE Share Code: SNT ISIN: ZAE000093779 (“Santam”)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
SANTAM LIMITED (Incorporated in the Republic of South Africa) Registration Number 1918/001680/06 JSE Share Code: SNT ISIN: ZAE000093779 (“Santam”) SANTAM LIMITED (Incorporated in the Republic of South Africa) Registration Number 1918/001680/06 JSE share code: SNT ISIN: ZAE000093779 (“Santam”) ANNOUNCEMENT REGARDING EMERGING MARKETS PARTICIPATION AND TECHNICAL SERVICES AGREEMENT WITH SANLAM LIMITED AND SOME OF ITS WHOLLY OWNED SUBSIDIARIES (“SANLAM”) 1. Introduction Santam shareholders are hereby advised that Santam has entered into a series of transactions with Sanlam (collectively the “Transaction”) in terms of which: • Santam will participate in Sanlam’s investments in emerging market short-term insurance businesses (“Target Companies”); and • Sanlam will participate in Santam’s investment in Santam Namibia Limited (“Santam Namibia”); (collectively the “Participation Transaction”); and • Santam disposes of its 25.1% direct interest in the issued ordinary shares of NICO Holdings Limited (“NICO Holdings”), a financial services group listed on the Malawi Stock Exchange, to Sanlam (the “NICO Holdings Transaction”). As part of the Transaction, Santam will render certain technical services to the Target Companies. Santam will pay Sanlam a net amount of R167.7 million (“Net Payment”) which will be funded from cash resources. Save for the NICO Holdings Transaction which became effective on 28 November 2013, the effective date of the Participation Transaction will be 2 business days after the date on which the conditions precedent have been fulfilled. The Participation Transaction is not subject to the fulfillment of any significant conditions precedent that have not yet been fulfilled. 2. Strategic rationale The Transaction aims to align the interests of Santam and Sanlam in current and future emerging market short-term insurance investments, whilst retaining the principle of a single investor in these individual businesses. In line with these principles, the Transaction provides for Sanlam to participate in Santam’s investment in Santam Namibia and provides Santam with an entry into the Indian, South East Asian and African emerging markets and the opportunity to participate in Sanlam’s future emerging markets short-term insurance transactions. The combination of Sanlam’s governance, transaction origination and expertise in foreign emerging market jurisdictions through its established emerging markets business together with Santam’s technical role will optimise the management of risk and enhance value in the emerging markets for both parties. In principle, Sanlam and Santam will respectively participate on a 65%:35% basis in Santam Namibia and in Sanlam’s current and future investments in Target Companies. 3. The Participation Transaction At the effective date Santam will subscribe for shares of separate classes (“Target Shares”) in Sanlam Emerging Markets Proprietary Limited (“SEM”), a wholly owned subsidiary of Sanlam, with each separate class linked to a participatory interest in the following Target Companies: • a 15.4% participatory interest in Pacific & Orient Insurance Co. Berhad (“P&O”), incorporated in Malaysia. P&O is a niche short-term insurer based in Kuala Lumpur, Malaysia. P&O has an estimated 40% market share in motorcycle insurance, and a 3.5% share in the total short-term insurance market in Malaysia. Its gross written premium (“GWP”) for the financial year ended 30 September 2013 amounted to approximately R1.6 billion; • a 7.0% participatory interest in Shriram General Insurance Company Limited (“SGIC”), incorporated in India. SGIC is the short-term insurance business of the Shriram Group, a financial conglomerate based in India. SGIC is positioned to be a market leader in motor insurance. SGIC wrote GWP of approximately R2.5 billion for the financial year ended 31 March 2013; • an 18.6% participatory interest in BIHL Insurance Company Limited (“BIHL Sure”), incorporated in Botswana. BIHL Sure is a subsidiary of Botswana Insurance Holdings Limited, a company listed on the Botswana Stock Exchange. BIHL Sure is a start-up short-term insurer providing a variety of insurance products. Legal Guard is currently its main product offering; and • an 8.7% participatory interest in the short-term insurance subsidiaries of NICO Holdings in Malawi, Zambia, Tanzania and Uganda (collectively the “NICO subsidiaries”), following the disposal of Santam’s direct interest in NICO Holdings in terms of the NICO Holdings Transaction. The NICO Subsidiaries offer predominantly personal and commercial insurance products. In total, the NICO Subsidiaries wrote GWP of approximately R450 million for the financial year ended 31 December 2012. NICO General is the leading short-term insurer in Malawi with a market share of approximately 40%. NICO Zambia is one of the leading short-term insurers in Zambia, with a market share exceeding 13%. Santam, through its wholly-owned subsidiary Santam Namibia Holdings Proprietary Limited (“Namibian HoldCo”), holds 60% of the issued ordinary shares of Santam Namibia. SEM will subscribe for Target Shares in Santam Namibia HoldCo linked to a 37.4% participatory interest in Santam Namibia. Santam Namibia is the leading short-term insurer in Namibia with a market share exceeding 30%. Santam Namibia focuses on corporate, commercial and personal markets and its GWP for the financial year ended 31 December 2012 amounted to approximately R680 million. Santam previously held an entitlement to participate in the appreciation of SGIC above agreed minimum hurdle rates through a preference share issued by SEM and which has been redeemed at SEM’s election. Santam will now in terms of the Participation Transaction participate in 7.0% of the economic benefits of SGIC. 4. Future transactions and conditions thereto In the event that Sanlam directly or indirectly acquires further short-term insurance investments from time to time, Santam shall subscribe for Target Shares in SEM linked in principle to a 35% participatory interest in such investments, subject to: • Santam having sufficient capital available taking into consideration its reasonable current and future capital requirements; • compliance with the required statutory and regulatory requirements; and • Santam having obtained an independent expert’s fairness opinion confirming that the price of the Target Share is fair. 5. Financial effects The unaudited pro-forma financial effects set out in the table below have been prepared to assist Santam shareholders to assess the impact of the Transaction on: • earnings per Santam ordinary share (“EPS”); • diluted EPS; • headline EPS (“HEPS”); and • diluted HEPS for the six months ended 30 June 2013; and • net asset value (“NAV”); and • tangible NAV (“TNAV”) per Santam ordinary share as at 30 June 2013. For the purposes of the pro-forma financial effects, it has been assumed that the Transaction took place with effect from 1 January 2013 for Statement of Comprehensive Income purposes, and as at 30 June 2013 for Statement of Financial Position purposes. The pro-forma financial effects have been prepared for illustrative purposes only and, because of their nature, they may not fairly present Santam’s restated financial position at 30 June 2013 and the restated results of its operations for the six months then ended. The directors of Santam are responsible for the preparation of the financial effects which have not been reviewed by the auditors. Before After % Cents Cents Change EPS for the six months ended 30 June 2013 356 325 -8.7% Diluted EPS for the six months ended 30 June 2013 353 323 -8.5% HEPS for the six months ended 30 June 2013 365 356 -2.5% Diluted HEPS for the six months ended 30 June 2013 363 353 -2.8% NAV per share as at 30 June 2013 4,956 5,208 5.1% TNAV per share as at 30 June 2013 4,009 4,261 6.3% Number of shares in issue as at 30 June 2013 (million) 114.33 114.33 - Weighted average number of shares in issue for the six 113.89 113.89 - months ended 30 June 2013 (million) Weighted average number of shares in issue for the six 114.72 114.72 - months ended 30 June 2013, for diluted EPS (million) Notes: 1. The figures in the “Before” column were extracted from the reviewed interim report of Santam and its subsidiaries for the six months ended 30 June 2013. 2. For purposes of NAV and TNAV per share, NAV represents “Total Equity” per the Statement of Financial Position. 3. For purposes of EPS, diluted EPS, HEPS and diluted HEPS it is assumed that the Net Payment would have earned interest at an after-tax cash rate of 3.6% per annum. 4. In terms of IAS 21 The effects of changes in exchange rates (“IAS 21”), a debit Foreign Currency Translation Reserve of R34 million was previously recognised in the Statement of Changes in Equity in respect of NICO Holdings, relating to the depreciation of the Malawian Kwacha against the Rand. IAS 21 requires that such reserve be reclassified to earnings upon the disposal by Santam of NICO Holdings. The pro-forma financial effects on EPS and diluted EPS are primarily the result of the reclassification of this Foreign Currency Translation Reserve to earnings. In the absence of this, the Transaction would not have any significant impact on EPS or diluted EPS. Santam expects the Transaction to be beneficial for Santam shareholders in future. 6. Small related party transaction Sanlam is a majority shareholder of Santam. As such, the Transaction is classified as a small related party transaction in terms of section 10 of the JSE Listings Requirements. Rand Merchant Bank (“RMB”), a division of FirstRand Bank Ltd, has been appointed as the independent expert to provide a fairness opinion as contemplated in section 10.7(b) of the JSE Listings Requirements. RMB has found the terms and conditions of the Transaction fair to the shareholders of Santam. Their fairness opinion is available for inspection at Santam’s registered office for a period of 28 days from the date of this announcement. Cape Town 11 December 2013 Sponsor: Investec Bank Limited .
Load more

Recommended publications
  • Analyst Presentation (June 2021)
    2021 ANALYST PRESENTATION INTERIM FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2021 Presented by: Lizé Lambrechts and Hennie Nel CONTENTS • The Santam business portfolio • Market context • Financial results • Capital management • Group strategy and priorities THE SANTAM BUSINESS PORTFOLIO Santam’s Strategic Investment Partnerships inclusive of SAN Conventional Alternative Risk Transfer (ART) JV (Saham) Santam Commercial and Centriq Insurance Santam’s share of the Personal Santam Structured Insurance insurance results of the SEM Santam Specialist general insurance Santam Re businesses, including SAN MiWay JV (Saham) MARKET CONTEXT INSURANCE MARKET OUTLOOK All markets • Global economy is recovering with an expected recovery in global insurance premiums • However, the future of the global economy remains uncertain due to uncertainty on how pandemic will unfold • Weather related catastrophes and cyber events increasing significantly • Rate hardening, growth of cyber insurance and the shift to digital distribution channels are key drivers to insurance growth • Investment into Insurtech continues globally • Pressure to tackle climate change risks and transition towards a low-carbon economy is growing INSURANCE MARKET OUTLOOK South Africa • Economic growth prospects positive • Improvements in vaccine roll-out key to supporting growth prospects • Premium growth expected to grow in line with the economy • In line with global investments in Insurtech, the local market remains a growth opportunity to digitise and narrow the protection gap •
    [Show full text]
  • December 2014
    Non-executive directors Santam head office and registered address B Campbell, MD Dunn, MP Fandeso, T Fubu, 1 Sportica Crescent BTPKM Gamedze, GG Gelink (Chairman), Tyger Valley IM Kirk, MLD Marole, MJ Reyneke, Bellville 7530 JP Möller, J van Zyl PO Box 3881, Tyger Valley 7536 Tel: 021 915 7000 Executive directors Fax: 021 914 0700 L Lambrechts (Chief Executive Officer), www.santam.co.za HD Nel (Chief Financial Officer), Y Ramiah Registration number 1918/001680/06 ISIN ZAE000093779 Company secretary JSE share code: SNT M Allie NSX share code: SNM Transfer secretaries Sponsor Computershare Investor Services (Pty) Ltd Investec Bank Ltd 70 Marshall Street, Johannesburg 2001 PO Box 61051, Marshalltown 2107 Tel: 011 370 5000 Fax: 011 688 7721 www.computershare.com Table of contents 4 Market context 8 Financial results 32 Capital management 38 Group strategy and priorities 43 Audited summary report for Santam Ltd and its subsidiaries for the year ended 31 December 2014 PRESENTATION TO ANALYSTS SANTAM LTD AND ITS SUBSIDIARIES Audited summary report for the year ended 31 December 2014 1 ANALYST PRESENTATION FINANCIAL RESULTS FOR THE YEAR ENDED 31 December 2014 Presented by Lizé Lambrechts and Hennie Nel 03 March 2015 CONTENT • Market context • Financial results • Capital management • Group strategy and priorities GENE 2 3 MARKET CONTEXT MARKET CONTEXT: KEY THEMES 2014 STRATEGY PROCESSES • Profitable growth remains a major challenge in more developed markets • Emerging markets continue to show positive prospects Outside • Persistently low level
    [Show full text]
  • STRATEGIC PARTNERSHIPS Junior Ngulube 16 & 17 October 2019
    STRATEGIC PARTNERSHIPS Junior Ngulube 16 & 17 October 2019 Insurance | Financial Planning | Retirement | Investments | Wealth AGENDA SPA strategy & partnership landscape Our Strategic Partnerships Stakeholder management Conclusion SPA STRATEGY & PARTNERSHIP LANDSCAPE SPA STRATEGY AT GLANCE Sustainable & profitable growth Leverage the footprint 1 2 3 1 2 3 Leverage the footprint & Grow the GI Grow the Life Pursue innovation Become the Go-to Drive growth in Specialist drive growth through other portfolio including business including across the value partner to MNCs & other classes and Reinsurance, also distribution channels and Health & Asset Management chain focusing on International Insurance supporting the MNC strategy partnerships across the Assistance & Retail Credit growth opportunities companies in partnership with Santam that meet the needs continent of the customers Strong Governance, Compliance and Brand, values, culture and ethics Risk Management Position the SPA brand as the leading pan African Financial Services player with an inclusive culture SPA STRATEGY AT GLANCE Sustainable & profitable growth Leverage the footprint 1 2 3 1 2 3 Leverage the footprint & Grow the GI Grow the Life Pursue innovation Become the Go-to Drive growth in Specialist drive growth through other portfolio including business including across the value partner to MNCs & other classes and Reinsurance, also distribution channels and Health & Asset Management chain focusing on International Insurance supporting the MNC strategy partnerships across the Assistance
    [Show full text]
  • December 2020
    CONTENTS 1. The Santam business portfolio 2. Market context 3. Financial results 4. Capital management 5. Group strategy and priorities THE SANTAM BUSINESS PORTFOLIO Santam’s Santam Santam Strategic Investment Commercial Santam Alternative Risk Partnerships inclusive of and Personal Specialist Santam Re MiWay Transfer Saham Our multi-channel Our specialist Our reinsurance Our direct Our alternative risk Our investments insurance business insurance business business in insurance business transfer insurance in emerging markets in South Africa portfolio in Africa and South Africa and in South Africa business held with Sanlam and Namibia emerging markets international markets SANTAM GROUP INSURANCE ACTIVITIES Insurance operating segments What is included? Conventional insurance Conventional insurance business written on insurance licences controlled by the group, consisting of: • Santam Commercial and Personal • Santam Specialist • Santam Re • MiWay Alternative risk transfer insurance Alternative risk transfer insurance business written on insurance licences of Centriq and SSI Sanlam Emerging Markets (SEM) general Santam’s share of the insurance results of the SEM general insurance insurance businesses businesses, including Saham held through SAN JV MARKET CONTEXT INSURANCE MARKET OUTLOOK • All markets • COVID-19 pandemic and the emergence of new variants remain a key downside risk to economic recovery and insurance demand • Global premium growth is expected to recover this year, largely driven by rate hardening and the emerging markets, in
    [Show full text]
  • 2021 Interim Report
    2021 SANTAM LIMITED AND ITS SUBSIDIARIES REVIEWED INTERIM REPORT AND ORDINARY DIVIDEND DECLARATION FOR THE SIX MONTHS ENDED 30 JUNE 2021 CONTENTS SALIENT FEATURES 1 FINANCIAL REVIEW 2 INDEPENDENT AUDITOR'S REVIEW REPORT 7 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 8 CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 9 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 10 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 11 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 12 ADMINISTRATION 38 SALIENT Conventional FEATURES Group gross written insurance gross written premium growth premium growth 10% 5% Economic capital coverage ratio Conventional insurance Return on 160% net underwriting shareholders' funds margin 6.7% 18.1% Gross claims paid Headline earnings Interim dividend of R10.4 per share increased 432 billion 30% cents per share Alternative Risk Transfer Earnings per share (ART) operating results of R140 million 863 cents (2020: R54 million) (2020: 24 cents) 1 52136_Integrated Report 2020_INSIDE Front/Back Cover_297x210.indd 2 2021/01/28 16:46 FINANCIAL REVIEW The Santam group reported solid operating results under difficult economic circumstances dominated by the continued negative impact of COVID-19. The group’s conventional insurance book achieved gross written premium growth of 5% (2% when excluding premium relief support to policyholders in 2020). Net earned premiums increased by 9% following the good growth achieved by Santam Specialist Business during the second half of 2020. A net underwriting margin of 6.7% (30 June 2020: 4.3%) of net earned premiums was reported, above the midpoint of the group’s target range of 4% to 8%. The alternative risk transfer (ART) business reported strong operating results of R140 million (30 June 2020: R54 million), positively impacted by excellent growth in income from clients and improved underwriting results.
    [Show full text]
  • Business Units at 31 December 2017 (100% Unless Otherwise Indicated)
    Business units at 31 December 2017 (100% unless otherwise indicated) Sanlam Personal Finance Sanlam Emerging Markets Sanlam Sky Investment management: Recurring premium sub cluster Sanlam Investments, Kenya (57%) via Sanlam Glacier Kenya PLC1 Strategic Business Development SIM Namibia (86%) Sanlam Investments East Africa Limited (74%) Botswana Insurance Fund Management (59%) via BIHL1 Sanlam Emerging Markets General insurance (including Santam’s Retail and Group life insurance and related participation): business: NICO Malawi (direct 49% and 8% indirect via Botswana Life, Botswana (59%) via Botswana NICO Holdings1) Insurance Holdings (BIHL1) Sanlam General Insurance – Tanzania, Tanzania Sanlam Life, Namibia (direct 47% and 3% indirect via NICO Holdings1) Sanlam Namibia Holdings, Namibia (direct 54% Sanlam General Insurance – Uganda, Uganda and 5% indirect via Capricorn Investment (direct 79% and 3% indirect via NICO Holdings1) Holdings) Lion Assurance Company (94%) NICO Life, Malawi (direct 49% and 8% indirect via NICO Zambia, Zambia (direct 49% and 8% NICO Holdings1) indirect via NICO Holdings1) Sanlam Life, Kenya (57%) via Sanlam Kenya PLC1 Shriram General Insurance, India (direct 23% Sanlam Life, Tanzania (64%) and 20% via Shriram Capital) Sanlam Life, Zambia (70%) Pacific & Orient, Malaysia (49%) Sanlam Life, Uganda (99%) Legal Guard, Botswana (59%) via BIHL1 FBN Life, Nigeria (35%) FBN General Insurance, Nigeria (35%) via Shriram Life Insurance, India (direct 23% and FBN Life 19% indirect via Shriram Capital) Soras Assurance General,
    [Show full text]
  • About This Report
    SANTAM INTEGRATED REPORT 2015 ABOUT THIS REPORT Santam Ltd (Santam or the group) is a South African company listed on the JSE since 1964 under the insurance (non-life) sector. The company was founded in 1918 and its headquarters is in Cape Town, South Africa. This integrated report reviews the financial year for the 12 months ended 31 December 2015 and covers general insurance and investment operations in South Africa, the rest of Africa, India and Southeast Asia. MATERIALITY transaction costs of US$100 million from the net proceeds on disposal of a portion of its listed equity portfolio, and from Santam aims to continuously improve its reporting process. In existing foreign currency assets. preparing this report, Santam launched a process to identify those matters that are most material to the group’s ability to create value over the short, medium and long term. Providers of financial Read more … capital were identified as the primary target audience for the report, about this transaction in the chief financial officer’s while taking the interests of a broader range of stakeholders into report on page 22. consideration. REPORTING GUIDELINES AND The reporting team considered materiality according to the following: − Santam’s strategy and value-creation statement BOUNDARIES − Santam’s key risks – especially where risks are showing an This report was developed with due consideration of the following upward trend reporting requirements and principles: − The Santam sustainability framework and its focus areas − King Report on Governance for
    [Show full text]
  • Investment Case : 2014 Annual Results
    investment case sustainable value creation Insurance Financial Planning Retirement Investments Wealth agenda Overview Strategic positioning Strategic delivery Financial performance – 2014 annual results Page 2 overview Leading financial services group in Africa, with presence in India and SE Asia. Established in 1918, listed in 1998 on the JSE & Namibian Stock Exchange 2 166 million issued shares, 486 000 shareholders Market Cap of > R150bn JSE/ALSI40 stock with > 80% free-float Average daily trading stats 4 - 5 million shares per day >50% of shares trade p.a. Institutional shareholding of 87%, 35% offshore shareholding Page 3 operational structure Sanlam Group Group Office 100% 100% 100% 60% Sanlam100 Personal Sanlam100 Emerging Sanlam100 60% Santam %Finance %Markets Investments% SA Retail: life Emerging markets ex- SA & Developed General insurance in insurance, investment SA: life insurance, markets: investment SA & co-investor in & other financial general insurance, management, wealth SEM general insurance services investments, credit & management, businesses banking employee benefits Page 4 strategic positioning focus on growth markets strategy remains unchanged optimising returns Sustainable value creation for shareholders Maximising RoGEV Optimal Earnings Operational Diversifi- Transfor- capital growth efficiencies cation mation pillars utilisation Strategic Strategic TheSanlam Strategy People Responsible Environ- Sound Prosperous develop- products mental governance society ment and services footprint enablers Strategic Strategic
    [Show full text]
  • Integrated Annual Report 2019 Integrated Annu Al
    INTEGRATED 2019 ANNUAL REPORT 2019 INTEGRATED ANNUAL REPORT ANNUAL 2019 INTEGRATED I am … I am a mother/father. I am a child. I am a worker. I am a friend. I am big and small. I am powerful. I am determined to be better. I am focused. I am connected. I am free. I am a leader, but I follow my heart. I am part of a bigger story. I am inspired by the story and the people of my country. I am the strength of a nation. I am a Namibian. I am a Motswana. I am a Zambian. I am Capricorn. Chobe River Contents 1 The Capricorn Way and vision 2 2 Our group in 2019 5 Five-year financial overview 5 Group chairman’s message 6 2019 at a glance 8 3 Investment case 10 Our value creation summary 12 4 Group profile and structure 15 Who we are 15 Shareholding and ownership 21 5 Leadership reports 24 Group chief executive officer’s report 24 Financial director’s review 32 6 Strategic landscape and material matters 42 Our operating context informs the group’s strategic landscape 42 Our four strategic choices 48 Our eight material matters 52 7 Governance reports 69 Corporate governance 69 Risk report 86 Remuneration report 110 Board sustainability and ethics report 117 8 About this report 128 9 Appendices 129 Share analysis and detail for 2019 129 Financial value-added statement 130 10 Consolidated annual financial statements 133 This integrated annual report is for the financial year ended 30 June 2019 and was compiled with input from the executive leadership team, reviewed by the board audit, risk and compliance committee (BARC) and the board sustainability and ethics committee (BSEC), and approved by the board on 11 September 2019.
    [Show full text]
  • Investment Case June 2014
    investment case sustainable value creation Insurance Financial Planning Retirement Investments Wealth agenda Overview Strategic positioning Strategic delivery Financial performance – 2014 interim results Page 2 overview Leading financial services group in Africa, with presence in India and SE Asia. Established in 1918, listed in 1998 on the JSE & Namibian Stock Exchange 2 166 million issued shares, 494 000 shareholders Market Cap of > R100bn JSE/ALSI40 stock with > 80% free-float Average daily trading stats 4 - 5 million shares per day >50% of shares trade p.a. Institutional shareholding of 86%, 32% offshore shareholding Page 3 operational structure Sanlam Group Group Office 100% 100% 100% 60% Sanlam100 Personal Sanlam100 Emerging Sanlam100 60% Santam %Finance %Markets Investments% SA Retail: long-term Emerging markets ex- SA & Developed General insurance in insurance, investment SA: long-term markets: investment SA & co-investor in & other financial insurance, general management, wealth SEM general insurance services insurance, management, businesses investments, credit & employee benefits banking Page 4 strategic positioning focus on growth markets strategic focus remains unchanged maximise shareholder return Net Business Flows Diversification Growth/ Efficiency Operational Operational Efficiency Returns (ROGEV) Optimal Application Strategic Investments Capital Capital Efficiency Return of Excess Page 6 core strategic objectives progress in all areas during 2014, particularly growth markets Effective capital management capitalEffective
    [Show full text]
  • With an Optimized Enterprise Architecture
    INSURER INCREASES AGILITY WITH AN OPTIMIZED ENTERPRISE ARCHITECTURE INCREASED FASTER BUSINESS AGILITY TIME-TO-MARKET Customer With assets of more than R17 billion, Santam is South Africa’s leading short-term insurer. The company has a nationwide, world-class contact center infrastructure, a thriving intermediary network and more than 650,000 HIGHER LOWER policy holders. Santam also holds business SOLUTION OVERALL interests in Zimbabwe, Malawi, Uganda, Tanzania and Zambia as well as strategic QUALITY, COSTS investments in various companies within the thanks to insurance industry, including the subsidiary Santam Namibia Ltd. RE-USE AND BETTER REQUIREMENTS MANAGEMENT Industry Insurance Opportunity A platform for success The insurer turned to ARIS to develop an Enterprise Architecture (EA) using a central, When Santam didn’t have an EA based business analyst’s response to Santam’s robust repository to align business and IT. on ARIS, IT changes were difficult and new EA approach that uses ARIS. Now Santam has an integrated environment expensive. Employees were frustrated that’s more agile and supports the business by using Microsoft® Word templates, It was clear Santam needed an EA with a strategy. An EA/SDLC methodology was fragmented tools and different repository-based product to support its based on TOGAF® model-driven design methodologies. Now that’s changed. drive to optimize the organization. ARIS concepts and standard ARIS model “I’m so grateful that we don’t have to use was introduced into Santam at the end types. Re-usable building blocks were MS Word templates anymore” was one of 2008. As a result, an integrated underpinned by a common metamodel.
    [Show full text]
  • Capricorn Investment Holdings.Indd
    SADC BUSINESS CASE STUDIES Various surveys and indices have identifi ed major business constraints in SADC. These include independent assessments of the regional business climate plus studies that specifi cally refl ect the views of the private sector. These assessments have been undertaken over a number of years but there has been little follow up by policy makers or attempts to address the identifi ed constraints. To assist in this regard, the SADC Secretariat in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) has initiated a research and dialogue project that aims at identifying the most important business constraints for the SADC region and making them more tangible by conducting fi rm level case studies on the identifi ed constraints. This is one of the collection of case studies. A CASE STUDY ON CAPRICORN INVESTMENT HOLDINGS (CIH) FEBRUARY 2013 FIRM OVERVIEW Name Capricorn Investment Holdings (CIH) Nationality Namibian Sector Financial Services SADC countries where Namibia, Botswana, Zambia doing business BACKGROUND CIH is a fi nancial services and banking group based in Namibia. It is the majority shareholder in Bank Windhoek, Namibia’s only fully locally owned bank. CIH also has interests in the insurance and asset management markets through various subsidiaries as well as strategic shareholding in underwriters like Santam and Sanlam Namibia. Facing a momentarily saturated market from 2002 onwards, CIH embarked on a regional strategy to accomplish growth and looked for markets with similar dynamics and stability as Namibia. This resulted in the acquisition of a 44 percent share in the Cavmont Bank in Zambia in 2007 and the start of a Greenfi eld operation - Bank Gaborone - in Botswana in 2004.
    [Show full text]