MMI Holdings delivered a strong return on embedded value of 13%, representing embedded value earnings of R5.2 billion for the reporting period. Core headline earnings decreased by 16% to R3.2 billion, driven primarily by lower underwriting profits and muted investment markets. A final ordinary dividend of 92 cents per share was declared by the group resulting in a total dividend of 157 cents per share for the year.
MMI Holdings remains in a strong capital position with a capital buffer of R4 billion as at 30 June 2016, after allowing for capital requirements, strategic growth initiatives and the final dividend.
Nicolaas Kruger, group CEO of MMI Holdings says, "This has been a difficult operating environment for the group as consumers are facing increasing pressure on their disposable income. However the implementation of our client-centricity strategy is advancing well and we continue to focus on enhancing the lifetime financial wellness of our clients."