Insurers brace for tough year ahead
Insurers’ results aren’t going to be pretty, if Liberty is any guide. But it doesn’t mean the shares aren’t worth a sniff
If it wasn’t already clear from Liberty’s latest trading update, it is going to be a tough year for the life industry on several fronts.
Liberty’s decision to set aside R3bn for the financial consequences of Covid will push it to a loss of up to R2.4bn for the first half of the year alone.