Cementing his position once more as one of South Africa’s most affluent executives, Paul Hanratty, the CEO of Sanlam, Africa’s largest insurer, has experienced significant gains in his equity stake in the company since the beginning of the year.
As one of South Africa’s most affluent executives, Hanratty’s stake in Sanlam has surged by nearly $3 million in 2023 alone, setting him apart from other business leaders struggling to achieve impressive gains in their equity interests.
Sanlam, a leading insurer in South Africa, is partly owned by Ubuntu-Botho Investments, an investment holding company owned by Patrice Motsepe.
Paul Hanratty, a leading executive with a minority 0.23-percent stake in Sanlam, has seen his equity interest grow from R238.78 million ($12.66 million) on Jan. 1 to R293.4 million ($15.56 million) at the time of writing.
This surge in the market value of his stake has positioned him among South Africa’s top executives who have reaped substantial gains from their company stakes.
The surge in Hanratty’s stake can be attributed to the remarkable performance of Sanlam’s shares since the beginning of the year. The company’s exceptional 2022 financial results and sustained interest from investors have driven its shares to rise by 22.9 percent on the Johannesburg Stock Exchange.
Sanlam’s shares started the year at R48.72 ($2.58) and closed at R59.86 ($3.17) on Fri., July 7, resulting in impressive shareholder gains. The recent surge in Sanlam’s shares has contributed to the group’s market capitalization surpassing $7 billion.Â
Hanratty assumed the role of Sanlam’s group CEO on July 1, 2020, after serving as a member of the board of directors since 2017. During his tenure, Hanratty has been an executive director and chair of the Audit Committee, offering his expertise as the committee’s financial expert.
In addition to his role at Sanlam, Hanratty has been an independent non-executive director of MTN since 2016 and currently serves as the non-executive chair at Intelligent Debt Management.
With his notable gains in Sanlam and extensive business sector experience, Hanratty solidifies his position among South Africa’s executives who have enjoyed significant returns from their stakes in the companies they lead.
