OUTsurance hopes to expand its operations to Ireland, as its Australian business is expected to see over 200% growth in earnings.
In a voluntary trading statement for the full year ended 30 June 2023, the group said that its earnings base for the year was mainly impacted by the performance of OUTsurance Holdings Limited , the group’s 90% held subsidiary that owns OUTsurance South Africa and Youi Australia. It added that its expansion into the Republic of Ireland presents an opportunity for diversified long-term growth.enter the Irish market in the second half of the 2024 financial year.In terms of the group’s performance, a significant increase in Youi’s earnings was deemed a positive.
“This positive outcome is attributed to strong premium growth, a material decrease in natural perils claims incurred following more favourable weather exposure and higher investment income attributed to the rising interest rate environment,” the group said.FY 30 June 2023 expected