Old Mutual warns of profit drop due to Covid-19
The insurance group has declared a less severe negative bonus for some of its investment products
28 May 2020 - 08:57
Insurance group Old Mutual has warned that profits will drop by more than a fifth in its six months to June due to the Covid-19 pandemic, with the group also forced to step in to limit losses for clients on some of its investment products.
Old Mutual warned on Thursday that Covid-19 was weighing on its ability to sell new products, with many advisers unable to work due to the partial closure of its branch network and lack of access to customer’s homes and workplaces...
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