Sanlam UK boosted by new business

Sanlam UK has seen the value of new business increase to R8 million (£600,000) in the first half of 2012.

Sanlam’s interim results for the year ending 30 June 2012 showed its UK arm reported an increase of new business value to R8 million, up from the R6 million reported for the same period in 2011.

Net inflows into Sanlam UK also increased to R1 billion in the first half of 2012 compared to the R262 million reported in 2011.

The boost in inflows was due to a R712 million uplift into the company's non life insurance businesses which include its investment division. The company did not have any inflows for that division in 2011.

Sanlam UK, whose chief executive is Lukas van der Walt, (pictured), also saw its life insurance net inflows rise to R372 million from the R262 million reported in 2011.