Consolidated GPW growth ahead of inflation
- Real growth by NicozDiamond, First Mutual Health and First Mutual Life.
- Growth in USD denominated business
Mixed cost performance amongst the Group’s SBUs
- Lower claims ratios for the short term insurance businesses owing to COVID-19 related incidence reductions arising from lockdowns, curfews and restricted movement.
- Property and Life business expenses grew due to cost push alternative exchange rate related costs and higher claims respectively for the two SBUs during the year.
- Higher health services claims as the absorbed part of increases in health service costs for the benefit of clients.
Above inflation growth in investment income and lower foreign currency denominated gains
- Underpinned by increased listed equity values.
- Lower relative official exchange rate currency volatility.
