Foreign-currency exchange losses had a significant negative effect on investment returns, offsetting the investment portfolio performance at home.
A few large corporate property claims and drought-related claims affected the underwriting results.
"The net underwriting margin is expected to be above the midpoint of the long-term target range of 4% to 8% of net earned premiums," the company said.
The share price was little changed in mid-afternoon trade at R238 on the JSE, valuing the company at R27bn.
The full-year results are expected on March 2.
Source: BDpro
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
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