Our business
Our business
We aim to provide reliable reinsurance support in developing markets, driven by profitable growth and a wish to ensure long-term sustainability. We believe in building mutually beneficial relationships, ensuring that our clients enjoy our capacity and financial strength for our mutual benefit.
Santam Re operates in Africa, Asia Pacific, Central and Eastern Europe, the Indian subcontinent and the Middle East.
Our reinsurance aggregation risk is managed through strict adherence to contract and country exposure limits. These are carefully monitored by the actuarial team and controlled through the purchase of retrocession to the 1-in-250 year level from high-quality retrocessionaires (S&P A- minimum rated).
It is worth noting that S&P assessed Santam’s enterprise risk management as "strong" and considers Santam to have strong risk controls to manage its key risks. S&P views Santam’s risk culture as positive, as it has been fully embedded across the business and is supported by an extensive risk appetite framework and effective risk and audit governance.
Santam and its fund manager, Sanlam Investment (SI), are signatories to both the United Nations Principles of Responsible Investment and the Code of Responsible Investing by Institutional Investors in South Africa (the Codes).
SI’s responsible investing policies and guidelines, incorporating Environmental, Social and Governance (ESG) considerations impacting the long-term sustainability of Santam’s portfolio investments as well as active ownership practices, are aligned with the Codes and King IV.
Our majority shareholder is Sanlam, the largest non-banking financial company in Africa with market capitalisation of R129.9 billion (US$7.9 billion*).
The Santam Group has been a proud member of ClimateWise since 2009. As South Africa’s leading short-term insurer, it was the first African insurer to mobilise the industry in response to increasing climate and weather risks.
Environmental, Social and Governance (ESG) Santam is a founding signatory of the UN Environment Programme’s Principles for Sustainable Insurance. We share the view that sustainable insurance is a strategic approach where all activities in the insurance value chain, including interactions with stakeholders, are done in a responsible and forward-looking manner by identifying, assessing, managing and monitoring risks and opportunities associated with sustainability or environmental, social and governance (ESG) issues.
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