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BRIEF-MMI Holding core earnings running "slightly ahead" in quarter ended Sept
December 2, 2016 / 5:15 AM / a year ago

BRIEF-MMI Holding core earnings running "slightly ahead" in quarter ended Sept

Dec 2 (Reuters) - MMI Holdings Limited

* Jse: Mmi - Operational Update For The Three Months Ended 30 September 2016

* Recurring premium new business up 18 pct over quarter, single premium new business down 23 pct against relatively demanding comparative for 1Q16

* Core earnings are running slightly ahead of prior year for period

* Tough economic conditions, and weak returns from equity markets, have continued to be a headwind on MMI Holdings’ financial performance in three months to 30 September

* Overall new business volumes are down 7 pct on a PVNBP basis

* Value of new business (on consistent basis) is up 24 pct, largely due to much improved new business volumes and margins from metropolitan retail

* Underwriting results, with exception of group disability experience, have improved relative to comparative period

* Operating environment remains difficult in South Africa and in most of emerging markets where we operate Source text for Eikon: Further company coverage:

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