Old Mutual earnings rise as insurance, investments and Africa drive results
Results from operations rose 13% to R9.8bn as insurance profitability improved and investments crossed R1 trillion in assets under management.
#headlineearnings
Why Sanlam’s headline earnings fell despite strong business growth
Currency movements, bond market distortions, reinsurance losses, and strategic investment spending combined to weigh on Sanlam’s reported results.
Discovery Group lifts annual profit by 29% to R15.2bn
Discovery Bank reported its first profitable half, while Discovery Insure’s operating profit jumped by 229%, helped by lower claims and favourable weather.
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%.
PSG Financial Services grows assets under management by 15% to R406.9bn
The final dividend was 14% higher than last year, while headline earnings rose by 11% to R1.033bn.
