Momentum doubles down on IFAs – advice at the heart of its impact strategy
CEO Jeanette Marais says Momentum will ‘invest aggressively in advice’ in its effort to strengthen VNB and long-term competitiveness.
#valueofnewbusiness
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%.
Momentum’s new business sales down 4% compared to the third quarter of 2024
Lump-sum product sales in Momentum Corporate and Metropolitan Life weakened, while life annuity volumes continued to grow in Momentum Investments.
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%.
Old Mutual prepares to shake up banking sector with new bank
South Africa’s second-largest insurer is set to launch a bank that will focus on capturing the mass market segment.
