Liberty working to reduce share price discount
SA’s third largest insurer is narrowing its focus to the local retail market in bid to arrest weakness of its shares
Liberty Holdings said it is confident the narrowing of its focus to the local retail market and correct product pricing will help arrest the weakness of its shares, which have traded at a 40% discount to its underlying value. SA’s third largest life insurer, which has a market capitalisation of about R30.9bn, has been on a renewal journey, offloading its medical scheme business and is in the process of exiting some African operations to focus more on the SA retail market. “We’ve fixed the business from where it used to be. There are no major cracks anymore. We are now into horizon two where we want to take the share price to the level where the value of Liberty is reflected for what it is,” said Liberty’s managing executive for customer and adviser experience, Johan Minnie.Speaking at the company’s intermediary conference on Thursday, Minnie said the insurer acknowledged that people were concerned about its performance, particularly the share price movement. It also did not help ...
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