Momentum reports higher earnings but is worried about economic recovery
The insurance and investment group experienced lower new-business volumes
30 May 2023 - 12:09
Insurance and investment group Momentum Metropolitan reported greater normalised headline earnings despite the challenging economic environment, as it benefited from a better mortality experience — people living longer — and the less severe effects of Covid-19.
As a result, headline earnings per share (Heps), a common profit measure in SA that excludes certain items, improved 28.7% to 205.9c and normalised Heps nearly one-third to 224.4c in the nine months to end-March, amounting to R3.35bn...
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