Momentum Metropolitan reported normalised headline earnings of R5.1 billion for the fiscal year ending 30 June 2023, representing a 16% increase. The strong earnings were supported by improved mortality experience and positive investment variances. The company expects earnings to remain robust in the coming year, although it acknowledges that the release of Covid reserves and investment variances will not provide the same level of support as in the past year. Going forward, the company’s strategy will centre on improving sales volumes and profitability at its Momentum Insure and Metropolitan units.
