Momentum doubles down on IFAs – advice at the heart of its impact strategy
CEO Jeanette Marais says Momentum will ‘invest aggressively in advice’ in its effort to strengthen VNB and long-term competitiveness.
: #financialresults
Momentum posts record earnings, but VNB under pressure from annuity mix
Despite a 20% drop in the value of new business, Momentum’s annuity earnings remain strong and underlying profitability resilient, lifting normalised headline earnings 41%.
PSG Insure leads earnings growth with 41% surge
PSG Financial Services posted a strong overall performance for the year, with a 24.7% increase in recurring headline earnings per share, driven by growth in PSG Insure, PSG Wealth, and PSG Asset Management.
Old Mutual’s operating profit up 4%, led by Insure and Investments
Exceptional underwriting in Old Mutual Insure and a 37% jump in Investments drive overall strength, but Corporate’s life insurance sales slumped 42%.
OUTsurance’s interim results: strong growth amid Irish losses and ESOP transition
Despite the wind-down of OUTsurance’s employee share ownership plan, CEO Marthinus Visser says the transition to a Customer Shareholding Plan will maintain employee motivation.
PSG delivers 28% earnings surge despite tough market conditions
The group reported a 15.9% increase in assets under management to R435bn.
