June 10, 2020 / 11:53 AM / a month ago

BRIEF-Sanlam Ltd Says New Business Volumes Up 33% In First Four Months Of FY 2019

June 10 (Reuters) - Sanlam Ltd:

* SANLAM - MOST OF OPERATIONAL TRENDS EXPERIENCED IN SECOND HALF OF 2019 PERSISTED IN FIRST TWO MONTHS OF 2020

* SANLAM - ACHIEVED ACCEPTABLE RESULTS FOR FOUR MONTHS TO 30 APRIL 2020,

* SANLAM - NET RESULT FROM FINANCIAL SERVICES DECLINED BY 21% ON FIRST FOUR MONTHS OF 2019 FINANCIAL YEAR

* SANLAM - NEW BUSINESS VOLUMES OF R96 BILLION INCREASED BY 33% ON FIRST FOUR MONTHS OF 2019 FINANCIAL YEAR

* SANLAM - CAUTIOUS ABOUT PROSPECTS FOR REMAINDER OF 2020 FINANCIAL YEAR

* SANLAM - GROUP SOLVENCY CAPITAL REQUIREMENT (SCR) COVER RATIO AMOUNTED TO 201% ON 31 MARCH 2020

* SANLAM - POTENTIALLY LOWER VALUATIONS OF STRATEGIC INVESTMENTS AT END OF JUNE 2020 MAY ALSO REQUIRE IMPAIRMENT OF INTANGIBLE ASSETS IN TERMS OF IFRS

* SANLAM - PANDEMIC RESERVE OF SOME R760 MILLION IS AVAILABLE TO ABSORB ANY INCREASED CLAIMS DUE TO COVID-19 AT LIFE INSURANCE BUSINESSES

* SANLAM - EVENTUAL CLAIMS EXPERIENCE FROM COVID-19 ALSO REMAINS UNCERTAIN

* SANLAM - OPERATING ENVIRONMENT DETERIORATED SUBSTANTIALLY SINCE END OF FEBRUARY 2020 Source text for Eikon: Further company coverage:

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