Company News & Results / Momentum Metropolitan Holdings

Momentum Metropolitan continues to deliver robust earnings

Momentum Metropolitan announces strong results

Momentum Metropolitan delivered a historic peak in normalised headline earnings (NHE) of R5.1 billion for the 12 months ended 30 June 2023, with operating profit increasing by 31% to R4.4 billion, from R3.4 billion in the prior year.

Momentum Metropolitan acquires RMI Investment Managers

In a transaction signed on 11 September 2023, Momentum Metropolitan entered into a sale agreement with OUTsurance Group (previously Rand Merchant Investment Holdings – RMIH) in terms of which Momentum Metropolitan will acquire RMIH’s share in the RMI Investment Managers Group Proprietary Limited (IMG).

Big change at the top for diversified FS giant

A couple of weeks back, Momentum Metropolitan announced that Jeanette Marais would take over as its Group CEO, effective 1 August 2023, becoming the first female CEO of a large, listed life insurance and asset management group in South Africa. “Jeanette will succeed Hillie Meyer, who was appointed as Group CEO for a fixed term of five years in February 2018,” noted the official and unavoidably formal media release. Jeanette has overseen Momentum Investments, Momentum Distribution Services, Consult by Momentum and Momentum Money since her March 2018 appointment as Deputy CEO.