* Basic earnings at 637.2 cents per share vs 443 cents
* Dividend per share rises to 192 cents from 182 cents
* Shares up 25 percent this year
(Recasts, adds CEO remarks)
By Helen Nyambura-Mwaura
JOHANNESBURG, Aug 2 (Reuters) – Liberty Holdings,
Africa’s third-largest life insurer by market value, posted an
expected 43 percent rise in first-half earnings on Thursday and
said it was looking for expansion opportunities in the western
part of the continent.
Liberty, majority owned by South Africa’s Standard Bank
, owns 50 percent on a Nigerian health insurer but wants
more exposure to Africa’s most populous nation and is also
eyeing new oil producer, Ghana.
“Africa is definitely worth the effort. Clearly it has its
challenges, but we think if you don’t position yourself for the
opportunity in Africa, there’s a good chance you’ll miss it,”
CEO Bruce Hemphill said in a conference call.
Liberty, which has operations in 14 African countries, said
assets under management in Africa excluding its home country
remained flat at 39 billion rand. African earnings outside South
Africa were also stagnant.
The company’s earnings per share totalled 632.7 cents in the
six months to end-June, compared with 443 cents a year ago as it
wrote more premiums and its investment portfolio yielded better
returns.
Continued…
