Sanlam Limited – Principal subsidiaries

at 31 December 2010
 
     
Fair value of interest in subsidiaries
R million %
interest
Issued
ordinary
capital
Shares
 
Loans
 
2010
2010
2009
2010
2009
Long-term insurance
   
Sanlam Life Insurance Limited 100
5 000
40 521
37 036
911
315
Investment and capital markets
     
Genbel Securities Limited 100
253
1 678
1 600
110
110
Investment management and consulting
     
Sanlam Investment Management (Pty) Limited 100
(1)
(1)
(1)
Sanlam Independent Financial Services (Pty) Limited 100
(2)
(2)
(2)
Sanlam Investment Holdings Limited 100
(2)
1 087
726
Sanlam Netherlands Holding BV(3) 100
2 309
2 450
2 330
Investment companies
     
Sanlam Spec (Pty) Limited(4) 100
(2)
509
1 063
Sanlam Investments (Pty) Limited 100
(2)
Sanlam Share Incentive Trust 100
(2)
(2)
Other 100
(2)
(2)
(11)
Total
   
45 736
41 692
1 530
1 477
Aggregate profits from subsidiaries  
5 734
4 397  
Aggregate losses from subsidiaries    
212
280    
(1)The interest is held indirectly by Sanlam Life Insurance Limited.
(2)Issued share capital is less than R1 000.
(3)Incorporated in the Netherlands.
(4)he loan to Sanlam Spec (Pty) Limited is subordinated in favour of other creditors.
 
A register of all subsidiary companies is available for inspection at the registered office of Sanlam Limited. All investments above are unlisted and incorporated in South Africa unless otherwise indicated. 
 
Analysis of the Group’s effective holding in Santam:
%
2010
2009
Shareholders’ fund
 
> Sanlam Life Insurance Limited
56,86
56,40
Policyholders’ fund
 
> Sanlam Life Insurance Limited
0,19
0,19
Total
57,05
56,59