ETF name change
The five DB x-trackers that Sygnia bought will be changing their names on Monday, 18 September. The new names will be Sygnia Itrix, and the ETF codes will change, with the DBX being replaced with SYG. Other than this cosmetic change, everything remains the same for these ETFs.
The Santam results show that these events did indeed impact margins and ultimately profits, with the insurer calling it the “worst catastrophe event in South African insurance history”.