Funeral policies and life cover for low-income earners now make up 31% of the company’s entire life book, showing that diversifying away from middle and high – income groups has made sense for the financial services group. Sanlam Sky reported an 8% improvement in net operating profit in Six months Sanlam Sky’s new business volumes surged 77% while the value jumped 20%. The growth in the low-income market provided a glimmer of hope amid subdued Consumer spending.

While Sanlam Sky contributes about 16.5% of the group’s profits, the value of new business from this division now makes up 31% of the entire life book.

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