RMI scraps final dividend amid Covid-19 hit
Insurers have felt pressure as a result of the pandemic, which has prompted job losses and a need to make provisions for future claims
25 September 2020 - 13:30
Rand Merchant Investment Holdings (RMI), which has stakes in Discovery, OUTsurance and UK insurer Hastings, has scrapped its final dividend as Covid-19 has battered financial markets and the insurance industry.
Headline earnings fell 49% to R1.9bn in RMI’s year to end-June, with insurers under pressure amid the cost to lives and jobs from the pandemic...
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