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South African insurer MMI H1 earnings fall 5 pct
March 2, 2017 / 6:07 AM / 10 months ago

South African insurer MMI H1 earnings fall 5 pct

JOHANNESBURG, March 2 (Reuters) - South Africa’s insurer MMI Holdings reported a 5 percent decline in half-year earnings due to weak investment markets and lower health administration revenues, the company said on Thursday.

* MMI, which sells life and short term insurance, said diluted core headline earnings for the six months to end December came in at 99.6 cents from 104.7 cents in 2015.

* “Diluted core headline earnings decreased mainly due to lower morbidity profits, lower health administration revenues, and weak growth in asset-based fee income as a result of weak investment markets,” MMI said in a statement.

* MMI declared an interim dividend of 65 cents per share

* ($1 = 13.0027 rand) (Reporting by Nqobile Dludla; Editing by Ed Stoddard)

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