Sanlam Allianz Holdings (kenya) Plc · NSEKE:SLAM
Sanlam Allianz Holdings (kenya) — Sanlam — H1 2025 Earnings Presentation
36 slides from Sanlam Allianz Holdings (kenya)'s earnings presentation, Sep 4, 2025
Slide 1: Interim Results 2025 Presentation
Interim Results 2025 Presentation Financial Planning | Life Insurance | General Insurance | Health | Investments | Wealth | Credit
Slide 2: Disclaimer
Disclaimer 2 This presentation (“presentation”) includes information that management of Sanlam Limited (“Sanlam”) believes is material for the purposes of financial reporting and investor communications. The assessments of materiality are based on applicable financial reporting standards considering
Slide 3: Agenda
3 01 Overview and strategy Paul Hanratty 02 Financial results Abigail Mukhuba 03 Business performance Abigail Mukhuba 04 Priorities and outlook Paul Hanratty 05 Additional information
Slide 4: Overview and strategy
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Slide 5: Key messages
Overview Financial Business Priorities Additional and strategy results performance and outlook information Key messages 5 Strong Growth track Quality of our Successful Sharpened financial record businesses business focus on performance established shows across integrations sustainability all regions
Slide 6: Solid delivery on financial metrics
Overview Financial Business Priorities Additional and strategy results performance and outlook information Solid delivery on financial metrics 6 Earnings and cash +15% +14% +15% NRFFS1 per share Cash NRFFS per share Net operational earnings per share Growth +7% >+100% (3%) Group Net client cash flow
Slide 7: Established track record of consistent growth and value creation
Overview Financial Business Priorities Additional and strategy results performance and outlook information Established track record of consistent growth and value creation 7 NRFFS (R billion) Adjusted RoGEV (%) – six-month return Adjusted RoGEV Hurdle + 16% CAGR 8,1 10,7 7,1 6,1 8,5 7,6 4,9 6,8 4,5
Slide 8: Operational excellence and transformative partnership in Africa
Overview Financial Business Priorities Additional and strategy results performance and outlook information Operational excellence and transformative partnership in Africa 8 NRFFS +28% NRFFS +16%2 Adjusted RoGEV1 +17,9% Adjusted RoGEV1 +18,6% Double-digit earnings growth across lines of business Sanl
Slide 9: Assupol delivering strong returns and improving performance
Overview Financial Business Priorities Additional and strategy results performance and outlook information Assupol delivering strong returns and improving performance 9 9 Value retention and creation Green shoots of synergies R6,6bn R1,4bn R7,1bn capital outlay dividends received GEV at by Sanlam 30
Slide 10: India delivering on the group's ambitious expectations
Overview Financial Business Priorities Additional and strategy results performance and outlook information India delivering on the group’s ambitious expectations 10 NRFFS1 +5% 1 New business volumes2 +33% Adjusted RoGEV3 +20,1% Shriram is a leading player in semi-urban and rural markets Earnings imp
Slide 11: Forward-thinking strategic activity laying foundations for long-term growth
Overview Financial Business Priorities Additional and strategy results performance and outlook information Forward-thinking strategic activity laying foundations for long-term growth 11 South Africa Pan Africa India Sanlam/Tyme Bank Allianz step-up demonstrates confidence Increased our economic shar
Slide 12: Sharing our strengths to benefit communities and economies sustainably
Overview Financial Business Priorities Additional and strategy results performance and outlook information Sharing our strengths to benefit communities and economies sustainably 12 Investing for good Partnerships Trust and reputation Financial inclusion Thought leadership in people and planet for im
Slide 13: Financial results
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Slide 14: Basis for normalisation of financial results
Overview Financial Business Priorities Additional and strategy results performance and outlook information Basis for normalisation of financial results 14 Normalising for corporate activity and one-off items Currency fluctuation Corporate activity Normalisation for corporate activity 1H 2025 exchang
Slide 15: Consistent delivery on financial metrics
Overview Financial Business Priorities Additional and strategy results performance and outlook information Consistent delivery on financial metrics 15 Actual Normalised Net result from financial services +14% +20% New business volumes +7% +9% PVNBP 0% +7% VNB (18%) (3%)
Slide 16: NRFFS performance satisfactory across lines of business
Overview Financial Business Priorities Additional and strategy results performance and outlook information NRFFS performance satisfactory across lines of business 16 Actual Normalised % % (3) 15 Life and health R million 1H25 1H24 change change General insurance Life insurance and health 4 528 4 004
Slide 17: Annualised return on group equity value (RoGEV)
Overview Financial Business Priorities Additional and strategy results performance and outlook information Annualised return on group equity value (RoGEV) (%)1 17 Increase Decrease Total 18,2% per share 15,4% per share Group hurdle of 14,7% 4,0 0,9 18,2 15,4 (0,1) 0,6 2,8 0,3 1,4 10,3 (2,0) Ex
Slide 18: Capital allocation for sustainable growth while maintaining balance sheet strength
Overview Financial Business Priorities Additional and strategy results performance and outlook information Capital allocation for sustainable growth while maintaining balance sheet strength 18 Target range Discretionary capital (R billion) Group regulatory solvency cover ratio (%) 200% 10 9,2 180% 1
Slide 19: Business performance
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Slide 20: Life and health | strong earnings and new business performance
Overview Financial Business Priorities Additional and strategy results performance and outlook information Life and health | strong earnings and new business performance 20 New business volumes Value of new business NRFFS Net client cash flow (PVNBP) (VNB) R4,5 billion R51 billion R1,1 billion R15,6
Slide 21: Life insurance | normalised VNB
Overview Financial Business Priorities Additional and strategy results performance and outlook information Life insurance | normalised VNB 21 1H24 1H25 Development costs in establishing new distribution channels in India Asia (7%) Asia Pan-Africa +31% Pan-Africa Higher volumes and change in mix to h
Slide 22: General insurance | Strong momentum in South Africa
Overview Financial Business Priorities Additional and strategy results performance and outlook information General insurance | Strong momentum in South Africa 22 NRFFS New business volumes R2,0 billion R27,1 billion +37% +15% (+42% normalised) (+19% normalised) NRFFS Net earned premiums Net insuranc
Slide 23: Investment management | Strong asset management
Overview Financial Business Priorities Additional and strategy results performance and outlook information Investment management | Strong asset management 23 NRFFS Net client cash flows R631 million R21,0 billion -7% >+100% (+8% normalised) Sanlam Investment Group (SIG) assets under management (AUM)
Slide 24: Credit and structuring | India growing with stable credit experience
Overview Financial Business Priorities Additional and strategy results performance and outlook information Credit and structuring | India growing with stable credit experience 24 NRFFS India credit loan book1 R1,2 billion R577 billion +6% +17% (+18% normalised) NRFFS (R million) India segment credit
Slide 25: Strong results, well positioned for the future
Overview Financial Business Priorities Additional and strategy results performance and outlook information Strong results, well positioned for the future 25 Quality underlying performance across all regions Balance sheet strength Capital allocated for long-term sustainable growth
Slide 26: Priorities and outlook
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Slide 27: Priorities for second half of 2025
Overview Financial Business Priorities Additional and strategy results performance and outlook information Priorities for second half of 2025 27 Continued integration across Africa enabling holistic client engagement and synergy realisation Conclusion of South Africa component of Ninety One transact
Slide 28: Confident in long-term outlook for Sanlam
Overview Financial Business Priorities Additional and strategy results performance and outlook information Confident in long-term outlook for Sanlam 28 Strong first half and on track to achieving cash NRFFS target of between R15 billion – R16,5 billion Well positioned for the future with growth mome
Slide 29: Sanlam Capital Markets Day
Sanlam Capital Markets Day Vision 2030 Strategic growth vectors Overhaul of financial disclosures including 16 October 2025 new group KPIs
Slide 30: Thank you
Thank you Financial Planning | Life Insurance | General Insurance | Health | Investments | Wealth | Credit
Slide 31: Additional information
Additional information
Slide 32: Strong cash generation
Overview Financial Business Priorities Additional and strategy results performance and outlook information Strong cash generation 32 % R million 1H25 1H24 change NRFFS 8 076 7 056 14% Amortisation of capitalised IT projects and other non-cash 131 125 3% adjustments Cash NRFFS 8 207 7 181 14% Project
Slide 33: Reconciliation of IFRS earnings and shareholders' fund NRFFS
Overview Financial Business Priorities Additional and strategy results performance and outlook information Reconciliation of IFRS earnings and shareholders’ fund NRFFS 33 on 30 June 2025 (R billion) 10,2 8,1 (1,4) (0,4) (0,3) 1 Attributable (IFRS) earnings Net investment return SHF Project expenses
Slide 34: Change in CSM on normalised (adjusted) basis
Overview Financial Business Priorities Additional and strategy results performance and outlook information Change in CSM on normalised (adjusted) basis1 34 (R billion) Increase Decrease Total SLS and Malaysia SLS and Malaysia 1,4 27,1 0,5 26,6 (0,1) (2,3) 1 Jan 2025 New Interest Variances and CSM re
Slide 35: Glossary of terms
Overview Financial Business Priorities Additional and strategy results performance and outlook information Glossary of terms 35 Technical terms and definitions Excludes from RoGEV the impact of actual investment return relative to long-term assumptions, interest rate changes, exchange rate movements
Slide 36: Glossary of terms
Overview Financial Business Priorities Additional and strategy results performance and outlook information Glossary of terms 36 Technical terms and definitions The annualised value of all new policies (insurance and investment contracts) that have been issued during the financial year according to t