The increase in operating profit was primarily due to acquisitions made in India and Malaysia during the second half of 2012 and 2013, including Sanlam Emerging Markets (SEM) acquisition of 49% stake in Pacific & Orient Insurance Co Berhad (P&O).
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New business volumes increased 37% in the first half (H1) of 2013, as against the business volumes during the comparable period in 2012.
Sanlam Group CEO Dr Johan van Zyl said a strong commitment to strategy over the past ten years as well as the depth of skills and experience within Sanlam had yielded the consistent satisfactory performance over the years.
"We are pleased with these results. It reaffirms our confidence in our strategy and supports our resolve to continuously deliver value to our shareholders," van Zyl added.
"We are also satisfied with the good progress we are making from our investments in emerging markets."
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