Momentum Group delivers excellent results, with very business in the Group performing well.
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GUEST – Jeanette Marais – Momentum Group CEO
Momentum Group announced excellent interim financial results for the six months ended 31 December 2024. Key highlights include normalised headline earnings (NHE) of R3.4 billion, up 44% on the prior period, and a 33% increase in operating profit to R2.8 billion. Investment return from the Group’s shareholder asset portfolios more than doubled relative to the comparative period and new business sales remained flat at R38.9 billion.
The Group achieved solid value of new business (VNB) growth of 40% to R279 million, largely supported by the change in new business mix towards more profitable protection business in Momentum Retail, an improvement in Metropolitan’s VNB and the positive contribution from life annuities in Momentum Investments. Overall, the Group’s new business margin improved to 0.7% from 0.5% in the prior period.
Momentum Group announced excellent interim financial results for the six months ended 31 December 2024. Key highlights include normalised headline earnings (NHE) of R3.4 billion, up 44% on the prior period, and a 33% increase in operating profit to R2.8 billion. Investment return from the Group’s shareholder asset portfolios more than doubled relative to the comparative period and new business sales remained flat at R38.9 billion.
The Group achieved solid value of new business (VNB) growth of 40% to R279 million, largely supported by the change in new business mix towards more profitable protection business in Momentum Retail, an improvement in Metropolitan’s VNB and the positive contribution from life annuities in Momentum Investments. Overall, the Group’s new business margin improved to 0.7% from 0.5% in the prior period.