Insurance

Room for improvement at Sovereign: CEO

Tuesday 17th of February 2015

Sovereign posted a profit for the half-year ended December 31 of $57 million, up 43% on the same period a year earlier but down 10% on the first half of 2014.

The decline compared to the earlier half was driven by higher lapse rates. Brewis-Weston said they could be seasonal. “There’s more movement between July and October but overall it’s running about sub-10% which is pretty good.”

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