PSG Insure continues to be PSG Konsult division’s star performer
DURBAN – JSE-listed financial services group PSG Konsult’s insurance division continued to be the group’s star performer, posting a 50percent increase in recurring headline earnings for the six months to end August.
PSG Insure grew its recurring headline earnings to R54.09million, up from R36.15m compared to last year.
PSG Konsult’s other two divisions, PSG Wealth and PSG Asset Management, reported a 10percent growth and 7percent decline in recurring headline earnings, respectively.
Chief executive Francois Gouws said the successful integration of the recent Absa Insurance and Financial Advisers acquisitions and robust underwriting results had boosted the result.
“Gross written premium growth of 35percent to R2.7billion was achieved, and the division continued to focus its efforts on growing the commercial lines side of the business, which requires specialist adviser expertise,” Gouws said.
Source: iol.co.za