Liberty became the first insurer to warn investors it will incur heavy losses associated with higher costs and lower new business volumes because of Covid-19.

Liberty said in a trading update on Monday that it expects to incur a loss of between R2bn and R2.4bn for the six months ending-June when it announces results in August. The announcement puts a spoke in the wheel of CEO David Munro's plans to return the company to a growth trajectory capable of recovering lost ground...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now