FY Results – The company reported a 77.7% increase in normalised earnings from continuing operations, thanks to a 17.4% growth in gross written premiums, which was driven by strong performance in Australian business Youi. A lower claims ratio helped to drive performance in this period. Steps have been taken to offset inflationary impacts of claims, including higher excesses on power surge and dip claims, and pro-active price increases in premiums. Normalised ROE increased from 23.6% to 29.1%, indicating the industry’s profitability. The company is planning to expand to the Republic of Ireland, while its business interests in Namibia were disposed of. An interim dividend of 56.8 cents per share was declared.
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