Clientèle, the JSE-listed life insurance company, has announced a remarkable 49% increase in headline earnings per share for the year ending June 30, 2025. This growth comes despite the challenging economic conditions that have negatively impacted affordability and financial resilience in its market.
The group declared a dividend of 132 cents per share, reflecting a 5.6% increase compared to the previous period. The results were influenced by the regulatory approval of its acquisition of 1Life Insurance, which occurred on July 12, 2024. The acquisition of Emerald Life was also approved on June 24, 2025, but had a minimal impact on the current results. The R605.2 million transaction was financed through R570 million in preference shares and R35.2 million in cash.
In the same reporting period, Clientèle reported a 49.8% increase in the value of new business, reaching R330.1 million, up from R220.3 million in 2024. However, operating expenses rose sharply by 31% to R551.2 million, primarily due to integration costs associated with 1Life and the addition of its cost base. The net investment result also fell by 33% to R170.2 million, impacted by finance costs from the 1Life acquisition and weaker investment returns.
The company acknowledged that ongoing economic challenges have led to high withdrawal rates, suspension of debit order mandates, and disputes among clients. In response, Clientèle has introduced initiatives aimed at reducing withdrawals while facing difficulties in premium collection.
Looking ahead, the board remains optimistic about potential growth and value creation opportunities within the group’s target market. The focus on addressing current challenges reflects a commitment to enhancing financial stability and client engagement.