Liberty says group has strong capital cover despite market uncertainty

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Group says it is uncertain of coronavirus impact on 2020 financials

Financial services group and life insurer Liberty Life said it was uncertain of what the full impact of the coronavirus would be on its financial performance for 2020, despite strong capital cover.

The group’s SIP includes assets backing capital in its insurance operations which in the latest financial results in February delivered earnings of R1bn. It said the strategies it employed to manage its asset and liability positions had also been negatively impacted by elevated levels of volatility in investment markets.

 

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