December 21, 2017 / 1:07 PM / in 2 months

BRIEF-‍Sanlam Updates On Exposure To Steinhoff International Holdings ​

Dec 21 (Reuters) - Sanlam Ltd:

* ‍SANLAM EXPOSURE TO STEINHOFF INTERNATIONAL HOLDINGS NV​

* SANLAM - ‍HAS EXPOSURE TO STEINHOFF INSTRUMENTS IN ON-BALANCE SHEET POLICYHOLDER ,SHAREHOLDER PORTFOLIOS, INVESTMENT PORTFOLIOS MANAGED ON BEHALF OF THIRD PARTY CLIENTS​

* - ‍GROUP‘S EXPOSURE TO STEINHOFF INSTRUMENTS ORIGINATED FROM NORMAL COURSE OF BUSINESS TRANSACTIONS, WITH MANY OF POSITIONS IN PLACE FOR A NUMBER OF YEARS​

* ‍EQUITY EXPOSURES WERE IN GENERAL IN LINE WITH OR SLIGHTLY ABOVE STEINHOFF‘S BENCHMARK INDEX WEIGHTING ON 1 DECEMBER 2017​

* ‍DIRECT DEBT EXPOSURES WERE ALSO IN LINE WITH GROUP‘S RISK MANAGEMENT FRAMEWORK​

* ‍BEST ESTIMATE POTENTIAL IMPACT ON GROUP‘S 2017 AND FUTURE EARNINGS IS NOT SIGNIFICANT​

* ‍POTENTIAL IMPACT ON SANLAM CLIENTS’ INVESTMENT RETURNS WILL VARY DEPENDING ON EACH INDIVIDUAL PORTFOLIO‘S EXPOSURE TO DIFFERENT ASSET CLASSES​

* - ‍POTENTIAL IMPACT ON SANLAM CLIENTS’ INVESTMENT RETURNS WILL VARY DEPENDING ON EACH INDIVIDUAL PORTFOLIO‘S EXPOSURE TO DIFFERENT ASSET CLASSE​

* SANLAM - POTENTIAL FINANCIAL EFFECTS ON NET ASSET VALUE , EARNINGS WILL ONLY HAVE A MARGINAL EFFECT ON SOLVENCY RATIO WITHOUT IMPACTING DIVIDEND PAYMENT CAPABILITY​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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