Liberty At Last
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Like many new CEOs, Munro has changed the business unit structure: SA Retail is the core business, and in effect the group now has a series of options in what it calls the "business development" portfolio.
The real hospital pass will go to the executive in charge of the emerging consumer sector and direct: And even after decades Liberty Corporate provides barely a 10th of the earnings generated by the retail business. It is probably worth persevering with this business, however, as it has a decent share of the business moving into umbrella funds and its group risk death and disability underwriting has been satisfactory.
Much more concerning is the cash drain in the rest of Africa, with health losses more than doubling to R45m and Liberty Africa Insurance going into the red with an R8m loss.
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The only good news was that the Rm loss in Stanlib Africa turned into a R10m profit, though only after shutting a number of operations. He said no customer suffered financial loss, though presumably if they did Liberty or its insurers would make up for it.
Liberty at Last! 自（じ）由（ゆう）解（かい）放（ほう） English Liberty at Last! French Vive la Liberté! Check translation German Endlich Frei! Check translation Italian. Liberty at Last! (Anime - English— Worldwide). LibertyatLast-EN-Anime-5D .png.
Munro was more impressive in his disclosures about retirement funds. He said Liberty is tracing 75, people who have not claimed benefits due to them on retirement or resignation or to their heirs on death. If the administrators are unsuccessful in finding beneficiaries, the government could decide to swallow up the capital for the fiscus.
Liberty has the most registered funds under administration of all the SA institutions, but some of those funds have just 12, six or even one member.
Munro said it was rather overeager when it deregistered 4, funds, assuming none had any assets. It turned out funds had Rm in assets in total and it has had to reverse the process. Most Read How African Bank rose from the ashes. What the crystal ball says. SA is the most irrationally pessimistic country in the world. Markus Jooste — justice delayed. With respect, look around you Adrian.
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He said no customer suffered financial loss, though presumably if they did Liberty or its insurers would make up for it. Munro was more impressive in his disclosures about retirement funds.
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He said Liberty is tracing 75, people who have not claimed benefits due to them on retirement or resignation or to their heirs on death. If the administrators are unsuccessful in finding beneficiaries, the government could decide to swallow up the capital for the fiscus. Liberty has the most registered funds under administration of all the SA institutions, but some of those funds have just 12, six or even one member. Munro said it was rather overeager when it deregistered 4, funds, assuming none had any assets.
It turned out funds had Rm in assets in total and it has had to reverse the process. Most Read How African Bank rose from the ashes.
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What the crystal ball says. SA is the most irrationally pessimistic country in the world.
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