glu declares first member profit share after launch year
The R1.78m payout reflects both underlying performance and a founding-member booster designed to accelerate early value.
#ProfessionalProvidentSociety
Investment performance drives PPS member payouts to record levels
The mutual insurer reports R5.56bn in investment returns compared with R1.32bn in operating profit, while higher claims put pressure on underwriting performance.
PPS takes its mutual insurance model to the broader SA market
It says the new business division, called glu, provide members with straightforward insurance solutions and profit-sharing.
Video interview: New mutual insurer enters the market
CEO Michele Jennings says glu targets a wider audience with straightforward products and digital innovation.
PPS ‘disappointed’ by 12% decline in new life and risk insurance business
The allocation to members’ Profit-Share Accounts soars from R620 million to R4.54 billion thanks to strong investment returns.
