World Markets

S.African insurer Sanlam sees challenging environment ahead

South Africa's biggest insurer, Sanlam, said on Wednesday it expects the operating environment to remain challenging for the rest of 2020 and into 2021, as it posted higher headline earnings per share (HEPS) for 10 months.

Dec 9 (Reuters) - South Africa's biggest insurer, Sanlam SLMJ.J, said on Wednesday it expects the operating environment to remain challenging for the rest of 2020 and into 2021, as it posted higher headline earnings per share (HEPS) for 10 months.

The company said HEPS rose by 4% for the 10 months ending Oct. 31, with the operating environment improving since June as governments eased coronavirus curbs, supporting sales from Sanlam's traditional life insurance distribution channels.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Vinay Dwivedi)

((tanishaa.nadkar@thomsonreuters.com; +919730172534; Twitter - @TanishaaNadkar;))

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