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Liberty's client retention improves
According to Business Report, major local insurance group Liberty Holdings says that its retail insurance business is now in a strong position with retail sales increasing by 14% to R6,9 billion, having resolved its customer retention and management issues.
In the Business Report article, Liberty's chief executive, Bruce Hemphill says that it has resolved entry-level market issues and that it is gaining market share from other insurers.
He says that indexed new business increased by 6% to R1,97 billion for the first six months to June. When combined with strong operational earnings from Stanlib, the two core divisions pushed headline earnings to R1,18 billion, 17,2% higher than last year.
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