Momentum Metropolitan books record profits as Covid-19 threat recedes.
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In the 2021 financial year, MMH recorded a net mortality loss of R2.8 billion because of Covid-19 death claims. This time around, the Covid-19 impact on its earnings was less severe, resulting in the partial release of opening Covid-19 provisions the company had set aside, thus boosting the profits by R105 million.
As a result, the operating profits were also significantly ahead of 2021 at R3.4 billion compared to R73 million then. The company's return on equity also increased to 22.7% from 4.9% the previous year
As a result, the operating profits were also significantly ahead of 2021 at R3.4 billion compared to R73 million then. The company's return on equity also increased to 22.7% from 4.9% the previous year
