March 7, 2018 / 5:41 AM / in 4 months

South African insurer MMI earnings fall 2.6 pct in H1

JOHANNESBURG, March 7 (Reuters) - South Africa’s insurer MMI Holdings said on Wednesday half-year earnings fell 2.6 percent, due to weaker persistency in Metropolitan Retail and lower profitability of life products at Momentum Retail.

MMI, which sells life and short term insurance, said diluted core headline earnings per share (HEPS) for the six months to end-December came in at 97 cents from 99.6 cents in 2016.

HEPS is the main profit gauge in South Africa, which strips out certain one-off items. (Reporting by Nqobile Dludla; Editing by Biju Dwarakanath)

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