South Africa: Strategy is the key to success, says Sanlam CEO Paul Hanratty

By Xolisa Phillip, in Johannesburg

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Posted on May 24, 2023 09:56

thumbnail_47993 © Sanlam CEO Paul Hanratty
Sanlam CEO Paul Hanratty

Knowledge about the physics of money pulled Sanlam CEO Paul Hanratty into insurance but a passion for the industry has sustained the veteran’s staying power.

Paul Hanratty began his career in 1984, the same year he obtained a Bachelor’s Degree in Actuarial Science (BBusSc Hons) from the University of Cape Town.

“When young people choose to study things it’s normally for all the wrong reasons – and, I suppose, a bit of fate,” Hanratty, tells The Africa Report.

“For me, I’ve always been interested in the sciences. I didn’t like blood and gore, so I couldn’t do medicine,” says Hanratty. “I’ve got no spatial awareness, so I couldn’t do engineering. Actuarial science is the physics of money. It’s simple. It seemed like a good idea at the time.”

… we’ve got the most beautifully virtuous cycle in our industry.

For Hanratty it is the business of insurance that piques his interest most. “I love the business that we’re in – helping people to save for retirement , to invest for retirement, to deal with what happens if you have a calamity,” he says. “I

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