Q3 2021 Santam Ltd Operational Update (10 Months) Call Transcript
Good day, ladies and gentlemen, and welcome to the Santam investor call ten-month operational update. (Operator Instructions) Please note that this call is being recorded. I now like to turn the conference over to Lizé Lambrechts. Please go ahead, ma'am.
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Thanks, Claudia; and good afternoon, ladies and gentlemen. Thank you very much for dialing in today. We always appreciate your time and interest in Santam. I will give a very brief summary of the update, and then we will take questions.
So we published our business performance update for the 10 months to end October this afternoon. In this relatively difficult economic environment, we are reasonably pleased with the 6% growth in gross written premium and equally pleased about the underwriting margin that is above the midpoint of our target range of 4% to 8%.
Our economic capital CapEx ratio at the end of October was close to the midpoint of our target range of 150% to 170%. We continue to make steady progress with the payment of open CBI
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