Insurance and financial services group Momentum Metropolitan Holdings warned on Monday that profits could fall almost two-thirds in the year to end-June as it battles with the fallout from Covid-19.
Momentum is the latest insurer to warn of a hit to earnings and profits, saying in a trading update the estimated after-tax effect of Covid-19 on, among other things, economic activity, claims and policyholder behaviour is R1bn, with the group also writing down its properties due to pressure on valuations...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.