Momentum’s stunning turnaround
Under CEO Jeanette Marais, market confidence surges as earnings climb
24 April 2025 - 05:00
As Jeanette Marais approaches her second anniversary as CEO of Momentum, the discount to embedded value has narrowed from 40% a year ago to about 15% today.
This is the key measure of life insurers as it adds the present value of the life book to NAV. Old Mutual, for example, is still valued at a 40% discount, indicating that the market has little faith in its strategy and considers it to be an ex-growth business...
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