Company News & Results

FNB delivers strong annual results with sustained growth in customers, deposits, and digital users

Finessing your underwriting margin back to health

Santam delivered what it described as “an overall satisfactory financial performance” for the half-year to 30 June 2023. The JSE-listed firm shrugged off hard reinsurance markets; the rising frequency and severity of natural catastrophe loss events; and South Africa’s subdued economic growth to deliver a 7% increase in gross written premium (GWP) from its conventional insurance businesses for the first half of 2023 compared to the first half of the prior year. The underwriting margin improved too, from 3% to 3.8%, but remains below the insurer’s 5-10% target.

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.

Appointment of Ayanda Ndlovu as Coface CEO for South Africa