Sanlam’s estimated exposure to Steinhoff

● R175m related to the decline in the value of Steinhoff shares held in the capital portfolios. The company said this was to a large extent protected by the equity hedges in place.

● R230m related to collateralised loans, with a maximum exposure R580m after tax.

● Between R358m and R771m related to debt instruments.

● R25m per annum related to policyholder and third party portfolios