A deep dive into the big business story of the week, as well as expert analysis of markets and trends."The value of that unbundling flowed through the earnings base. That created a very large profit in 2022 in the listed entity due to the unbundling of those two significant interests," said Hofmeyr."The important part of our results are the continuing operations because that compares the 2023 results with a 2022 base that references the continuing operations of OUTsurance.
"The total transaction increases our stake in You by 5.3% but it is staggered across two tranches," said Visser."The first tranche has been completed. The plan is to complete the second tranche by the end of October. We’re quite excited about that investment – it’s one we understand with very good growth prospects."
OUTsurance Ireland is expected to officially launch in the first half of 2024 pending regulatory approval from the country’s central bank."We believe the general insurance market will continue to experience real growth because of factors like climate change, the proliferation of solar panels and the increasing market penetration of electric vehicles driving real claims cost increases.
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