September 20, 2017 11:44 AM ET

Insurance

Company Overview of Liberty Group Limited

Company Overview

Liberty Group Limited provides financial solutions for individuals, families, and businesses. It offers accident, critical illness cover, disability cover, funeral benefits and plans, income protection, life protection, medical cover, and policy protection for individuals and families. It also offers annuities, disability, life protection, and umbrella solutions; and administration and consulting services for businesses. Liberty Group Limited was formerly known as Liberty Life Association of Africa Ltd. and changed its name to Liberty Group Limited in May 2000. The company was founded in 1957 and is headquartered in Johannesburg, South Africa. Liberty Group Limited operates as a subsidiary o...

25 Ameshoff Street

Johannesburg,  2001

South Africa

Founded in 1957

7,071 Employees

Phone:

27 11 408 2999

Fax:

27 11 408 2109

Key Executives for Liberty Group Limited

Chief Executive Officer
Age: 47
Chief Executive Officer of Liberty Ermitage
Age: 70
Group Chief Executive
Chief Executive of Liberty Properties
Age: 54
Chief Executive of Liberty Africa
Age: 56
Compensation as of Fiscal Year 2017.

Liberty Group Limited Key Developments

Liberty Group Limited Reports Financial Results for the Six Months Ended June 30, 2017

Liberty Group Limited reported financial results for the six months ended June 30, 2017. For the six months, normalized headline earnings per share were 456.7 cents. Net customer cash inflows were ZAR 5.7 billion during the period driven mainly by strong inflows into asset management non-money market products. Normalized headline earnings were ZAR 1,267 million, lower than the first half of 2016, but reflect a recovery in comparison to the second half of 2016.

Liberty Group Limited Announces Management Changes

Liberty Group Limited announced the appointment of Derrick Msibi as CEO of Liberty Asset Management Cluster and STANLIB South Africa with effect from 1 May 2017. Derrick has 17 years' experience and a proven track record in the asset management industry, ranging from a portfolio manager in the alternatives asset class to the managing director of the multi-manager in South Africa. He will be a great asset to Liberty's strategic journey with regard to attaining Strategy 2020 objectives. Derrick's responsibilities will be to drive strategy and provide leadership to the combined LibFin and STANLIB teams. Derrick will be a member of the STANLIB Board and the Liberty Group Executive Committee. Derrick joins from the Alexander Forbes Group where he held the positions of Managing Director of Investment Solutions and Joint Head of the Institutional Businesses. Derrick will be supported by the strong and established STANLIB executive team. Seelan Gobalsamy takes over the role of CEO for Emerging Markets of Liberty Group which includes STANLIB Africa. He will remain on the STANLIB Board to ensure continuity and support for Derrick.

Liberty Group Limited Reports Earnings Results for the Full Year of 2016

Liberty Group Limited reported earnings results for the full year of 2016. For the period, the company’s normalized headline earnings for the financial year 2016 year of ZAR 527 million were 39% lower, representing a 37% decline in normalized operating earnings and a 42% decline in earnings from the shareholder investment portfolio (SIP). Normalized return on equity was 11.5%. Normalized headline earnings per share up 904.5 cents. Net customer cash inflows were ZAR 7.7 billion.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 26, 2017
Liberty Property Portfolio
\
 

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