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Old Mutual, SA’s second-largest insurer by market value, will miss 2020 growth targets, citing the coronavirus outbreak, which has forced it into restricting business travel.

The company’s share price fell 16.14% to R12.05 on Monday, in line with the broader stock market as investors worldwide remained worried the pandemic will trigger a global recession even as central banks in the US, Europe and Asia pumped money into the system to cushion the blows...

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