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Companies
Sunday, January 1, 1989
Record income

Metropolitan Life has announced some highly pleasing results for the period ending September 30 1988. The company achieved a total income of R507m, constituting an increase of 29%.
This enabled earnings to be lifted by 26% to 36c a share. These results meant that the board could declare a final dividend of 15c, bringing the total for the year to 24c. Equally good were premium incomes. Recurring premiums were boosted by 28%, and total premiums increased by 31% to R342m.
The new single premium investment policy, which was introduced at the beginning of the year, has been very well received. Single premium income more than doubled to R23m. Other factors which contributed to this result included strict controls on operating costs, and staff training.
Willem Pretorius, MD of Metlife, says, “Our performance in the marketing arena is particularly pleasing with our highly flexible Dynamic Life range of policies continuing to find excellent acceptance among our target markets.
Barring any major upheavals, we are optimistic about the coming year.” he adds.

Copyright © Insurance Times and Investments® Vol:2.1 1st January, 1989
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