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.
#presentvalueofnewbusinesspremiums
Old Mutual’s new-business growth masks mixed trends
Large corporate risk sales boosted the headline figures, while Wealth Management recorded higher living annuity and endowment sales and guaranteed annuity sales declined.
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 Metropolitan reports jump in single-premium business
The reduction in the number of tied agents knocked recurring-premium sales, the group says in a trading update.
