June 3, 2020 / 3:04 PM / a month ago

BRIEF-Santam Ltd Says Lockdown Impacted Premium Growth

June 3 (Reuters) - Santam Ltd:

* JSE: SNT - OPERATIONAL UPDATE TO SECURITYHOLDERS FOLLOWING THE SANTAM BOARD MEETING HELD ON 3 JUNE 2020

* SANTAM LTD - LOCKDOWN RESULTED IN A MUTED CLAIMS ENVIRONMENT FOR MONTH OF APRIL 2020, MOSTLY IMPACTING MOTOR CLASS OF BUSINESS

* SANTAM LTD - A NUMBER OF CLAIMS FOR EVENTS CANCELLATION AND TRAVEL INSURANCE WERE COVERED IN TERMS OF OUR POLICIES

* SANTAM LTD - IN PROCESS OF SETTLING TRAVEL-RELATED CLAIMS IN LINE WITH POLICY CONDITIONS

* SANTAM LTD - LOCKDOWN AND ECONOMIC SLOWDOWN NEGATIVELY IMPACTED PREMIUM GROWTH AS NEW BUSINESS ACQUISITION REDUCED SIGNIFICANTLY

* SANTAM LTD - EQUITY, INTEREST RATE AND CURRENCY MARKETS ARE EXPECTED TO REMAIN VOLATILE FOR FORESEEABLE FUTURE

* SANTAM LTD - CO, MIWAY PROVIDED PREMIUM REFUNDS AND DISCOUNTS ON MOTOR POLICIES TO PERSONAL AND COMMERCIAL POLICYHOLDERS AMOUNTING TO R327 MILLION

* SANTAM LTD - LOCKDOWN AND ECONOMIC SLOWDOWN NEGATIVELY IMPACTED PREMIUM GROWTH

* SANTAM LTD - SANTAM’S CAPITAL, LIQUIDITY AND FUNDING POSITIONS REMAIN ROBUST

* SANTAM LTD - ECONOMIC CAPITAL COVERAGE RATIO REMAINS ABOVE 150% THRESHOLD FOLLOWING PAYMENT OF 2019 FINAL DIVIDEND ON 30 MARCH

* SANTAM LTD - ECONOMIC CAPITAL COVERAGE RATIO REMAINS ABOVE 150% THRESHOLD AND ITS REGULATORY CAPITAL POSITION REMAINS STRONG Source text for Eikon: Further company coverage:

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