Momentum’s earnings jump as investment returns outperform

Momentum Metropolitan reported a 51% jump in first-half normalised headline earnings, as investment returns more than compensated for Covid-19 mortality losses.

Just when Momentum and other insurance companies were emerging from the damaging effect of the Covid-19 pandemic, which resulted in them paying billions of rand worth of death claims, the Russia-Ukraine conflict and its wider effect could pose other risks. Its value of new business grew 20% R400m, driven by new business volumes and expense management. But the value-of-new-business margin held steady at 1.1%. The value of new business premiums rose 23% to R37bn.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Momentum’s earnings jump as investment returns outperformSA’s fourth-largest life insurer is cautious, however, due to the uncertainty around how the crisis in Ukraine will affect the global economic recovery
Source: BDliveSA - 🏆 12. / 63 Read more »

Uber shares jump after improved earnings outlookUber says trips have recovered 90% and mobility gross bookings recovered 95% in February compared with the same period in 2019
Source: BDliveSA - 🏆 12. / 63 Read more »

JSE allows climate, sustainability bonds as ESG investment jumps | Fin24JSE, which runs Africa’s biggest stock and bond exchanges, said it has changed its listing requirements to increase exposure to the rapidly growing environmental, social and governance investment sector and to allow the sale of bonds to raise funds to fight climate change. A new way to move money around. SA really needs to grow its economy ESG is government control over private companies masquerading as social good. Reject it.
Source: Fin24 - 🏆 21. / 63 Read more »