INSURANCE ASSET MANAGEMENT OPERATING RESULTS SEEN FLAT

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Fri 13 Feb 2009 | 10:11 GMT
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UPDATE 1-Liberty sees FY headline EPS 25-35 pct lower
Fri Feb 13, 2009 7:58am GMT

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* Says well capitalised

* Insurance, asset management operating results seen flat

(Adds details)

JOHANNESBURG, Feb 13 (Reuters) - South African insurance company Liberty Holdings Ltd <LBHJ.J expects to report a 25-35 percent drop in full-year basic and headline earnings per share as sliding equity markets hit profit.

The company, which is majority owned by Standard Bank (SBKJ.J) and whose only operating asset is Liberty Group, said it remained well capitalised, with a capital adequacy level marginally ahead of the 2.5 times cover it reported in November.

NOTE: The
company is the majority by standard bank (SBKJ.J)THE 2.5 times cover it reported in november.

It said Liberty Group's headline EPS was expected to fall 45-55 percent including the full impact of investment losses on its portfolios, and to drop 25-35 percent exluding the impact of some of those returns.

Insurance and asset management operating earnings are expected to be in line with 2007 results, the company said.

Shares in Liberty Holdings slipped 0.35 percent to 68.01 rand, lagging a 1.86 percent gain on the Johannesburg Top-40 index of blue-chips stocks .JTOPI. Continued...
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NOTE:In the insurance and asset management are operating the earning are expected to be in line w/our company.

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