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South Africa: Earnings rise for almost all Santam Ltd. units

December 6, 2013 - 6:00am


South Africa's second-largest insurer Sanlam Ltd. increased its earnings in all business units but short-term insurer Santam Ltd. in the first ten months of 2013, chief executive officer Johan van Zyl said.

Santam was hit by high claims volume in the first half of 2013, BDlive reported. Mr. Zyl said "the severity of claims" still affects Santam's "operating earnings growth."

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