Sanlam says Paul Hanratty has agreed to extend his term serving as chief executive and executive director on the board until December 31, 2027.
Hanratty was appointed chief executive on July 1, 2020, and has been a member of the board since 2017. He has been a non-executive director of MTN since 2016 and is the non-executive chair of Intelligent Debt Management, an online search showed.
The chief executive succession update announcement was made at the same time as the release of the outcome of the insurance and financial services group’s annual shareholder meeting, which was held on Tuesday.
At the meeting, all the resolutions proposed were passed by the requisite majority of votes of shareholders in attendance or represented by proxy, a statement from Sanlam said.
Sanlam said last month that the group’s strong performance momentum from 2023 had continued into the first quarter of 2024 to March 31, despite a challenging backdrop marked by geopolitical conflict, sustained high global interest rates and inflation, and investment market volatility. Life insurance recorded double digit growth in both earnings and new business volumes. General insurance recorded satisfactory performance.
The share price traded 0.78% lower on the JSE yesterday morning, but the price was still up 25% over a year, a good gain considering the FTSE/JSE Life insurance index is flat over the period.
BUSINESS REPORT