Momentum investment return down 47%

Momentum Metropolitan, a prominent insurance company, has recently announced a strong set of results despite challenging economic circumstances in South Africa. In a recent interview with CNBC Africa, Jeanette Marais, the Deputy CEO, highlighted the company's achievements and the key factors driving their performance. Marais expressed confidence in the company's half-year results, attributing the success to the collective efforts across the group and a shift towards more stable business conditions post-COVID. She pointed out that while the economic environment remains tough with factors like load shedding, high petrol prices, and interest rates impacting clients, Momentum Metropolitan has managed to return to pre-COVID levels in terms of mortality claims and new business. This is a significant achievement considering the ongoing challenges in the market. One of the key themes discussed in the interview was the performance across different markets, including Africa, the UK, and India. Marais acknowledged the diverse nature of these markets, with some showing growth opportunities while others faced profitability challenges. Despite variations in performance, Momentum Metropolitan has been able to consistently gain market share across all its businesses, showcasing resilience and adaptability in different environments. The interview also shed light on the company's product portfolio and the performance of various business segments. Marais highlighted the significance of having a diversified group, noting that each business unit plays a unique role in driving profitability and growth. From the life business to the investments sector, Momentum Metropolitan has seen positive outcomes across the board, with businesses like guard risk and Momentum life making notable contributions to the overall profits. Furthermore, the discussion touched upon the challenges and opportunities in growing the broker base. Marais emphasized the importance of recruiting and retaining advisors in an increasingly competitive market. While facing hurdles in bringing new advisors into the business, Momentum Metropolitan remains committed to investing in the advice industry and providing valuable solutions to clients seeking financial guidance. In conclusion, Marais expressed optimism about the company's future prospects and reiterated their commitment to delivering value to customers in the midst of evolving market dynamics. As Momentum Metropolitan continues to navigate through economic challenges and leverage growth opportunities in diversified markets, the focus remains on sustaining performance excellence and driving innovation in the insurance sector.