MPL +0.85%: Todays FY result missed profit expectations however that was a result of losses in their investment portfolio, the underlying result was solid with good volume and margin trends obvious. FY23 guidance and commentary was upbeat, with ongoing policy growth (+2.7%) and low claims inflation (2.3%). While we suspect the market will have ?? over the level of claims inflation and whether or not it’s sustainable, it was a decent result and they seem to be going okay in a challenging environment.
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PULSE CHECK WEBINAR: Portfolio positioning towards FY26
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Tuesday 3rd June – ASX +29pts, IEL, 360, TWE
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Gerrish: The correction is done, we’re positioning for what comes next
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Tuesday 3rd June – Dow up +35pts, SPI up +69pts
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MM is neutral/bullish MPL ~$3.50
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