December 5, 2018 / 12:32 PM / 9 days ago

CORRECTED-South African insurer Sanlam sees 10 percent fall in headline earnings

(Corrects month from June to October in first paragraph)

JOHANNESBURG, Dec 5 (Reuters) - South Africa’s biggest insurer Sanlam saw its normalised headline earnings fall 10 percent for the 10 months to October, it said on Wednesday.

That compared with a 22 percent rise during the first 10 months of 2017. Sanlam attributed the decline to a 55 percent fall in its net investment return.

Headline earnings is the main profit measure in South Africa and strips out certain one-off items. (Reporting by Emma Rumney Editing by James Macharia)

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