MMI Holdings (MMI), the third biggest JSE-listed life assurer, on Monday said the new business annual premium had lifted 13 percent in the quarter to September this year.

It said this increase in new business was achieved against the background of an on-going difficult and uncertain operating environment characterised by low interest rates, weak employment levels, the rising cost of electricity and petrol, a volatile currency and weak global demand conditions that continue to impact negatively on domestic economic growth and confidence.

MMI expects growth in new business volumes to remain dependent on economic conditions. Diversification of distribution, geographies, markets and products continue to underpin the group’s growth strategy and has to some extent cushioned MMI from negative economic conditions.

Elsewhere on Ventures

Daily Brief Triangle arrow
Triangle arrow