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<\/a><\/figure><\/div>\n\n\nOutlook <\/strong><\/p>\n\n\n\n The group also remains positive about its prospects in 2024, even if ongoing geopolitical conflicts pose a risk to the outlook of investment markets, interest rates, and inflation\u2014the group’s earnings are highly sensitive to moves in global investment markets. <\/p>\n\n\n\n “Due to the impact of economic conditions on clients in the retail mass market, persistency (the customers who renew their policies every year) challenges continue,” the group said. <\/p>\n\n\n\n “However, actions taken have seen short-duration persistency stabilising. Further management actions to improve resilience to the cyclical economic pressures on clients are being implemented.” <\/p>\n\n\n\n “These actions may negatively impact short-term sales and value of new business in 2024 in the retail mass segment, but will ensure sustainable long-term growth.<\/strong>” <\/p>\n\n\n\n Profits in this segment are still expected to remain robust in 2024 and in line with historical growth levels. <\/p>\n\n\n\n Although the funeral deal with Capitec will be terminated in October 2024, the group’s proposed R6.5 billion purchase of Assupol, together with other strategic activities concluded in 2023, is expected to supplement the new business value lost through Capitec’s termination.<\/p>\n\n\n\n The group also remain positive over the medium to long-term prospects for African countries, with short-term economic challenges set to reverse over time, with good income growth supporting its operations. <\/p>\n\n\n\n The group is also very positive about the medium to long-term prospects of its Indian operations.<\/p>\n\n\n\n
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