OUTsurance increased its interim dividend by 7.7% despite half-year financial results affected by severe storms in Australia. Normalised earnings reached R1.41 billion for the six months ending December, with a 21.6% return on equity. OUTsurance Holdings saw a 3.3% decrease in normalised earnings to R1.55 billion, largely due to higher natural perils claims, notably in Australia. Premiums increased by 22.5% and new business rose by 38.8%. CEO Marthinus Visser is optimistic about long-term growth, with plans for OUTsurance Ireland’s market entry and opportunities in Australia and South Africa. OUTsurance aims to break even in Ireland within five years, following successful models in Australia and New Zealand. In Australia, Youi’s normalised earnings dropped due to increased natural perils claims, leading to a higher claims ratio.
