Alexforbes reports 16% asset surge, announces special dividend
Alexforbes is focusing on individual consulting as its main growth area, with in-fund asset flows of R3.5 billion for the year.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreAlexforbes is focusing on individual consulting as its main growth area, with in-fund asset flows of R3.5 billion for the year.
The allocation to members’ Profit-Share Accounts soars from R620 million to R4.54 billion thanks to strong investment returns.
The group’s after-tax profit from its insurance business increased by 12%, with its funeral plans now covering more than 12 million lives.
The final dividend was 14% higher than last year, while headline earnings rose by 11% to R1.033bn.
South Africa’s second-largest insurer is set to launch a bank that will focus on capturing the mass market segment.