Executives back Momentum to grow despite economy
Three years into its turnaround, life insurer finally approaches its medium-term earnings target after containing costs and regaining some lost market share
04 September 2019 - 18:53
Three years into its turnaround strategy, SA’s fifth-largest life insurer, Momentum Metropolitan Holdings (MMH), finally tracked closer to its medium-term earnings target after putting a lid on costs and taking back some market share it lost over the years.
MMH, previously called the MMI Group, has lagged behind its peers, losing about 4% of its combined market share in the four years to the end of its 2018 financial year while its profits fell year after year, reaching a low of just R2bn that year. The company’s earnings had fallen from a high of more than R3bn in 2014...
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