Botswana Insurance Holdings Limited (BIHL) is expecting a profit drop of between 67-77% in the company's financial results to be released this week. This translates to a decrease of up to P490 million million.
According to the company, the decrease will be driven by an impairment of P189 million of an investment in an associate as well as lower unrealized investment mismatch profits recognised by the life insurance business due to adverse changes in interest rates.
BIHL also stated the in the prior period, profit before tax included a once-off P142 million profit from the disposal of a 37.62% shareholding in Funeral Services Group.
"The Group’s other reportable segments continued to show good growth compared to the comparative six month period," the company assured shareholders.