Strategy and performance

Sanlam has five steadfast strategic focus areas:
Each of these focus areas are ultimately governed at Board level and each is dealt with by the Group Chief Executive in the opening sections of this Report. Specific material issues that have been of particular relevance over the reporting period are also highlighted in this Integrated Annual Report.
> Net result from financial services per share increased by 23% 
> Normalised headline earnings per share up 15% 
Business volumes
> New business volumes up 3% to R106 billion
> Net value of new covered business up 10% to R666 million 
> Net new covered business margin of 2,57%, up from 2,42% 
> Net fund inflows of R22 billion up 42%
Group equity value
> Group equity value per share of R28,18
> Return on group equity value per share of 18,2%
Capital management
> Discretionary capital of R4,0 billion at 31 December 2010 
> Sanlam Life CAR cover of 3,4 times
Dividends of 115 cents per share up 11%