Old Mutual expects a loss of up to R6.7bn in the first half
Insurer braces for a Covid-related spike in mortality and disease in the latter part of 2020
24 August 2020 - 18:56
Insurer Old Mutual, rocked by weak new business volumes and hefty business interruption payouts as a result of the Covid-19 pandemic, said it expects to swing into a loss for the first half of the financial year.
The group expects a loss of R5.62bn-R6.74bn in the six months to end-June, from profit of R5.81bn previously, saying in a trading update it will write down some of its investments due to a deteriorating economic environment...
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