Wesbank

BIHL Group operating profits up 13%

SHARE   |   Tuesday, 04 September 2018   |   By Ricardo Kanono
BIHL Group CEO,Catherine Lesetedi BIHL Group CEO,Catherine Lesetedi

Botswana Insurance Holdings Limited (BIHL) Group’s commitment to driving shareholder value remains a strategic goal. Giving a highlight of the BIHL’s financial results for the half year ended 30 June 2018 Group CEO, Ms. Catherine Lesetedi stated that the company realised an increase in Operating Profit by 13%.

Speaking at the results’ announcement, Group Chairperson Batsho Dambe-Groth said: “the trading environment continues to be characterised by squeezed liquidity, rising unemployment and none growing incomes. These realities have left households increasingly squeezed and in financial strain. This has presented us with a challenge especially on the retail side of the business. Despite the prevailing environment, the business has remained robust throughout its subsidiaries. We continue to see improvements as the teams work tirelessly towards our strategy to becoming an inclusive financial services provider.”

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Key group highlights for the year under review are as follows: Profit attributable to equity holders increased by 8% to P272.7 million; Value of new business increased by 14% to P66.6 million; Assets under management increased by 3% to P26 billion; Group operating profit increased by 13% to P171 million; P 288 million paid as dividends during the period, compared to P188 million in 2017

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Dambe-Groth declared: “BIHL continues to be a people centric organisation with the aim of creating harmonised products by leveraging on the talents we employ. We aim to encourage and support collaboration within the Group and truly live our motto, Strength in Numbers. It only through concerted efforts that we can grow the business and ensure that it returns the desired numbers. It is through our people that we have managed to keep the business well capitalized at 5.2 times the required capital for the Group is covered”.



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