JSE-listed insurance-based financial services group Momentum Metropolitan on Wednesday reported a 51% increase in normalised headline earnings to R1.52 billion for the six months ended December 2021. The group attributes the recovery to a strong focus on its clients and advisors. The insurer reported a 64% rise in profit with headline earnings per share up from 55.9 cents to 91.4 cents in the period.
Operating profit takes knock However, the group’s operating profit took a 12% knock in the period to R785 million, from R890 million in the previous comparable period. According to the insurer, this can be largely attributed to the R378 million in net mortality losses it saw during the six-month period.
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