Sanlam (SLM) Investor presentation summary

Strategic vision and growth

• Aims to be a leading emerging markets financial services group, focusing on sustainable long-term growth in high-potential markets, including India and Pan-Africa.

• Growth strategy leverages specialist capabilities, strategic partnerships, and technology transformation.

• Consistent high-quality growth with robust new business volumes and strong competitive positioning.

• Completed key strategic transactions to create a simpler, more resilient business.

• Purpose is to empower generations to be financially confident, secure, and prosperous.

Financial performance and results

• Achieved 14% CAGR in net result from financial services (NRFFS) and 10% CAGR in dividends over recent years.

• Group new business volumes grew by 11% to R127bn, with strong net client cash flows and operational earnings.

• Dividend increased by 9% to 485 cents per share, exceeding the target of 4% real growth.

• Return on group equity value (ROGEV) per share at 15.7%, with economic solvency ratio at 183%.

• Financial leverage ratio at 16.67%, well within the 35% board-approved risk appetite limit.

Capital management and solvency

• Maintains a robust capital management framework, prioritizing responsible allocation and risk management.

• Economic solvency cover ratio at 183%, with over 90% of eligible own funds in Tier 1 capital.

• R5.7bn discretionary capital ring-fenced for India transactions; solvency remains within target range.

• Sensitivity analysis shows resilience to market shocks, with SCR cover remaining above 169% in stress scenarios.

• Strategic use of subordinated debt and high-quality capital to support business needs.