Momentum tops R7bn target as new-business value lags sales growth
Metropolitan improved adviser productivity and returned to positive new-business value, while Momentum Investments’ shift towards living annuities weighed on its margin.
#normalisedheadlineearnings
Momentum lifts earnings as new business volumes rise across key divisions
Broad-based earnings growth was accompanied by tighter new business margins as the group contended with product-mix pressure across parts of the business.
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%.
