Sanlam group company secretary Sana-Ullah Bray has resigned to take up another position inside the insurance group at the start of next year, the company announced in a brief statement on Friday.
Bray will become the group executive of human capital while the current deputy company secretary, Adela Fortune, will be promoted.
According to Bray’s LinkedIn profile, he joined Sanlam 12 years ago after previous stints at other companies, including serving as group company secretary of Santam from 2004 to 2010.
Fortune was previously company secretary at fishing group Oceana from June 2019 to March 2022 and deputy company secretary at Old Mutual from November 2012 to May 2019.
“The board is satisfied that Adela has the expertise, knowledge, and expertise to take up the position as group company secretary,” Sanlam said.
“The Sanlam board wishes both Sana-Ullah and Adela success in their new roles,” it added.
Africa’s largest insurer on Thursday released a mixed-bag operational update, with profits in its life businesses showing a marked recovery in the 10 months to end-October as Covid-19-related death claims dwindled, but the volatility in global markets affected its investment returns.
The rise in inflation and interest rates affected global investment markets, and the ability of clients to commit to new insurance and investment products and retain existing arrangements, Sanlam said in a statement on Wednesday.
High levels of claims inflation, claims related to electrical power surges and vehicle theft blighted its short-term insurance arm, Santam, compounded by adverse weather conditions and the deadly floods in KwaZulu-Natal during the first half of the calendar year.
Headline earnings per share (HEPS), the main profit measure that strips out exceptional items, were down 6% during the review period year on year.
With Andries Mahlangu
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