Climate change, EVs and solar panels will drive growth, says Outsurance
The annual profit from continuing operations for the short-term insurer almost doubled
15 September 2023 - 10:14
Short-term insurer Outsurance reported a surge in profit from its continuing operations as premiums increased, and is expecting the insurance market to grow in the medium- to long-term because of climate change, solar panels and electric vehicles (EVs).
The company, valued at about R60bn on the JSE, saw its annual profit for the year to end-June jump 96.3% year on year to R3.3bn and headline earnings per share (HEPS) for continuing operations, a common profit measure in SA that excludes certain items, 99.2% to 189.2c...
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