Momentum expects big earnings jump

The Momentum Group is expecting a massive jump in earnings for the six months ending December 2024, with all its business units showing robust performances.

In a trading statement, the group said that earnings per share and headline earnings per share are expected to increase by between 50% and 55% to a range from 240 to 248 cents per share.

The group said that its strong operational performance delivered robust earnings across all of its business units.

It added that earnings benefitted from the good performance on the existing book of business, which was buoyed by improved persistency experience variance in most of its local life insurance businesses.

The group said that mortality and morbidity claim variance remains positive, even if it is less positive than in prior periods.

It added that strong underwriting discipline and favourable weather conditions resulted in a strong recovery in Momentum Insure’s earnings.

Guardrisk also saw notable growth in its underwriting profits and management fee income.

Results further benefitted from higher market returns and good yield curve shifts over the period, while strong cash generation supported the group’s capital and liquidity position.

The group will release its interim results for the six months that ended in December on Thursday, 20 March 2025.