{"id":23714,"date":"2023-03-12T10:25:01","date_gmt":"2023-03-12T10:25:01","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/?p=23714"},"modified":"2023-03-12T10:25:52","modified_gmt":"2023-03-12T10:25:52","slug":"bihl-posts-remarkable-profits-amid-turbulence","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/bihl-posts-remarkable-profits-amid-turbulence","title":{"rendered":"BIHL posts remarkable profits amid turbulence"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Botswana. <\/strong><\/span><b>Botswana Insurance Holdings Limited (BIHL) has exalted its subsidiaries for the sterling full year results for the year of December of 2022.<\/b><\/p>\n<p>BIHL\u2019s net operating profits were at P 408 million up 132 percent while core earnings stood at P 481 million or 138 percent up, like-on-like.<\/p>\n<p>Botswana Life contributed 54 percent while associates contributed 35 percent of the profits,\u201d Head of Finance Kudakwashe Mukusi said, adding that \u201cBifm also post strong results.\u201d<\/p>\n<p>He attributed the strong lead by Botswana Life to falling down of mortality rates.<\/p>\n<p>\u201cDuring pandemic claims reached P 2.4 billion and we had to honor them, as people were burying their loved ones. Now in 2022 were paid out P 2 billion,\u201d he said.<\/p>\n<p>The results painted strong performance in almost all from fronts. The off-shore private equity investments performance was impressive.<\/p>\n<p>The sale of Funeral Services Group (FSG) to Africa Lighthouse Capital also aided the results and prompted it to thank its shareholders a dividend of 119 thebe per share- bring the total over the year to 208 thebe.<\/p>\n<p>However, the company bemoaned the results of Letshego Holdings Limited where it is the second biggest shareholder. It said its operation in Malawi, the unit trusts did shrink.<\/p>\n<p>Its chief executive officer (CEO), Catherine Letegele said the muted economic climate has affected short term insurance as policies lapsed or were surrendered. She said the move was influenced by number of factors, such, as high inflation and central bank by tightening interests rates.<\/p>\n<p>\u201cThe challenges to management is that we have to resolve these as we go into 2023. There were significant lapses and surrenders,\u201d she said.<\/p>\n<p>\u201cWe have to do customer education. What is happening is not a good thing in business, she added.<\/p>\n<p>As part of introspection the company is turning to digital plant form to have a wider footprint. The company will also target the financially excluded mass- that are thought to average 300, 000.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/botswana\">Botswana<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Botswana. Botswana Insurance Holdings Limited (BIHL) has exalted its subsidiaries for the sterling full year results for the year of December of 2022. BIHL\u2019s net operating profits were at P 408 million up 132 percent while core earnings stood at P 481 million or 138 percent up, like-on-like. Botswana Life contributed 54 percent [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":23713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,237,234],"class_list":["post-23714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BIHL posts remarkable profits amid turbulence - Botswana<\/title>\n<meta name=\"description\" content=\"Botswana Insurance Holdings Limited (BIHL) has exalted its subsidiaries for the sterling full year results for the ye ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/bihl-posts-remarkable-profits-amid-turbulence\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BIHL posts remarkable profits amid turbulence\" \/>\n<meta property=\"og:description\" content=\"Botswana Insurance Holdings Limited (BIHL) has exalted its subsidiaries for the sterling full year results for the ye ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/bihl-posts-remarkable-profits-amid-turbulence\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-12T10:25:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-12T10:25:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/03\/postQueueImg_1678600915.91.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"579\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bihl-posts-remarkable-profits-amid-turbulence#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bihl-posts-remarkable-profits-amid-turbulence\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BIHL posts remarkable profits amid turbulence\",\"datePublished\":\"2023-03-12T10:25:01+00:00\",\"dateModified\":\"2023-03-12T10:25:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bihl-posts-remarkable-profits-amid-turbulence\"},\"wordCount\":325,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bihl-posts-remarkable-profits-amid-turbulence#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/03\/postQueueImg_1678600915.91.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/bihl-posts-remarkable-profits-amid-turbulence#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bihl-posts-remarkable-profits-amid-turbulence\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bihl-posts-remarkable-profits-amid-turbulence\",\"name\":\"BIHL posts remarkable profits amid turbulence - 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