Momentum’s Sanisha Packirisamy says investors should look beyond direct export exposure to assess whether the loss of preferential access could affect production mandates and capital spending.
The deal gives Momentum full ownership of the retirement fund administrator despite Verso’s recent losses, with scale and complementary businesses central to the rationale.
Metropolitan improved adviser productivity and returned to positive new-business value, while Momentum Investments’ shift towards living annuities weighed on its margin.
Broad-based earnings growth was accompanied by tighter new business margins as the group contended with product-mix pressure across parts of the business.
A Northern Cape High Court ruling shows how easily advisers can be left personally exposed.
CEO Jeanette Marais says Momentum will ‘invest aggressively in advice’ in its effort to strengthen VNB and long-term competitiveness.
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%.
Lump-sum product sales in Momentum Corporate and Metropolitan Life weakened, while life annuity volumes continued to grow in Momentum Investments.
The research also finds that South Africans turn to advisers primarily in times of uncertainty or when faced with a personal crisis.
The financial sector stands out with leading companies like RMB, Sanlam, Momentum, and Santam earning Top Employer status for 2025.
