Rand Merchant Investment Holdings (RMI), which owns Outsurance and has stakes in Discovery and MMI, said the recent Australian bushfires weighed on its half-year profits to end-December.

The group, headed by CEO Herman Bosman and chair Jannie Durand, reported an 8% fall in group profit to R1.847bn, with its Australian subsidiary Youi Insurance expecting a net estimated loss of R206m...

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