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June 8, 2020

Alexander Forbes Group Holdings Limited reports full year results

<strong>By: Alexander Forbes</strong>

Alexander Forbes Group Holdings Limited (JSE share code: AFH) <span class="zm_inLnk" data-value="2020-06-08 11:00:00">have</span> announced audited results for the twelve months ended 31 March 2020 and final and special cash dividend declaration.

<strong>Overview of results</strong>

Alexander Forbes is pleased to report the financial results for the full year ended 31 March 2020. This was a critical period for Alexander Forbes as we executed on the strategic objectives set for the year and implemented significant changes to our operating model. The structural reorganisation of the business is intended to allow us to deliver on our core purpose of creating beneficial outcomes for our clients and members through an advice-led framework.

We are pleased to report a sustained increase in our client engagement interventions to ensure that we remain attuned to our clients’ needs, by providing outstanding service and solutions, which contributes to a loyal client base. We are making progress in new business, achieving some notable wins in investments, healthcare, and retirements. Our Arrive multinational platform continues to gain traction across Africa.

<strong>Disciplined and successful execution of strategic initiatives</strong>

<ul>

<li>Stability across our client base due to the roll-out of our client-centric strategy, successful implementation of our advice-led consulting framework, and implementing continuous client feedback mechanisms.</li><li>Satisfactory progress in the delivery of default retirement solutions, showing measurable benefits to our clients.</li><li>Successful implementation of our target operating model.</li><li>Delivery on our capital-light strategy has shown a significant improvement to our capital position due to the completion of the disposal of the short-term insurance business in South Africa (AFI disposal) and the conversion of the Alexander Forbes sponsored umbrella fund to being privately administered in the second half of the year.</li><li>Alexander Forbes is in a strong financial position for the uncertainty that lies ahead because of its unleveraged balance sheet, supported by the surplus regulatory capital and available cash.</li><li>Continued to strengthen our employee engagement interventions and improve our culture, demonstrated by a 9% increase in our employee engagement score for the year.</li><li>Our Arrive multinational solution continues to gain momentum with 51 clients across Africa since inception.</li>

</ul>

<img class="aligncenter size-full wp-image-142503" src="https://www.cover.co.za/wp-content/uploads/2020/06/Screenshot-2020-06-08-at-16.22.41.png" alt="" width="685" height="883">

Download the full report <span style="text-decoration: underline;"><a href="https://www.cover.co.za/wp-content/uploads/2020/06/AFHJun2020.pdf" target="_blank" rel="noopener noreferrer">HERE</a></span>

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