Shrinking savings pool and emigrating rich worry MMH CEO
The loss of high-income earners makes it more difficult to sell investment products, Momentum Metropolitan chief Hillie Meyer says
14 September 2022 - 09:13
UPDATED 14 September 2022 - 22:51
Momentum Metropolitan CEO Hillie Meyer says emigration has become one of his biggest worries as the loss of wealthy citizens and skilled professionals is pressuring an insurance and investment industry faced with a shrinking savings pool.
“The rich and wealthy are leaving. I’m concerned about the number of people who can afford our retirement and pension products,” Meyer told Business Day in an interview on Wednesday after Momentum Metropolitan reported a sevenfold increase in annual profit...
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