BIHL exceed profit expectations

Announcing their half-year results for the period ended June 30 2010, the group said its operating profit increased by a healthy 48 percent to P129 million on the back of strong performances in both its flagship life insurance and asset management businesses.

Giving an overview of the results, Group CEO Regina Sikalesele-Vaka said although the economic environment was still uncertain in the aftermath of the recession, the group was strategically positioned for any new challenges and opportunities and that diversification of income streams would take centre focus in the coming three years.