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BIHL absorbs COVID-19 shocks

Ricardo Kanono by Ricardo Kanono
September 16, 2021
in Business, Uncategorized
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… The group reaffirms commitment to Batswana as funeral claims grow

STAFF WRITER

editors@thepatriot.co.bw

Botswana Insurance Holdings Limited (BIHL) Group says as COVID-19 continues to take a veritable socio-economic toll, businesses who stand to bear a direct as well as indirect strain from the worsening pandemic situation are gearing themselves to withstand any further shocks.

The BIHL Group this week shared financial results for the six months ended June 30, 2021 before key stakeholders, showing lower financial performance indicators than the prior year.

Most notably, operating profit for the Group decreased by 44% over the six months to June 2021 compared to the prior year, and operating profit for Botswana Life decreased by 48% to P102 million. This was on account of excess mortality experienced during the period. 

P119 million worth of claims were classified as COVID-19 claims across the different product lines, representing 29% of the total claims. 

The BIHL Group Chairperson Batsho Dambe-Groth said the impact of COVID-19 on financial performance was notable during the period and is reflected in the results shared.

She said despite increased claims affecting business performance, they have worked to keep their promise and pay benefit claims during this difficult time when Batswana need them the most.

“With our team – considered as frontline workers – at the branches operating even on weekends, we have worked to ensure that we are able to assist clients for funeral claims. The last thing we want clients to worry about is delays or difficulties on claim pay-out,” Dambe-Groth said.

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  • Killings of journalists up 50% in 2022, half targeted off duty    January 25, 2023
    Eighty-six journalists and media workers were killed around the world in 2022 – one every four days, according to UNESCO data, highlighting the grave risks and vulnerabilities that journalists continue to face in the course of their work.   […]
  • Judge Tau; please don’t stifle public scrutiny of the Court of AppealJanuary 25, 2023
    Her utterances are misplaced and must be condemned with the contempt it deserves ADAM PHETLHE The Patriot on Sunday dated 15 January 2022 carried an article titled ‘Judge Tau defends CoA Integrity’, with sub-headings “Complains of discrediting reckless statements; […]
  • Miss Botswana 2022 is the Face of KGK DiamondsJanuary 19, 2023
    Its been an exciting first week back to her MBW duties and we kick off the year with an official announcement that Our Queen is The face of KGK Diamonds. Lesego Chombo alongside Nigel Amos was the show stopper […]
  • Executives to watch in 2023January 19, 2023
    A year is often too short to demonstrate your worth, yet that’s exactly what the newly appointed Chief Executive Officers (CEOs) have to do to show that they deserve their enviable roles. PATRIOT BUSINESS looks at CEOs who shall […]
  • BLP TEST AP/BCP UNITY TALKSJanuary 19, 2023
    BAKANG TIRO editors@thepatriot.co.bw The new entrant in the cooperation talks between Alliance for Progressives (AP) and Botswana Congress Party (BCP) – Botswana Labour Party (BLP) has thrown spanner in the works by demanding that both AP and BCP yield […]
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