Old Mutual hikes premiums as it seeks to cushion covid blows
The insurer had more mortality claims than anticipated with R6.8bn in excess death claims
15 March 2022 - 09:38
UPDATED 15 March 2022 - 23:04
SA’s third-largest insurer, Old Mutual, has repriced premiums on new policies for the unvaccinated after experiencing higher Covid-related death claims than it had modelled for.
“We have responded by repricing our group life business and individual business on the expiry of the guaranteed terms, as well as repricing new business for unvaccinated lives,” CEO Iain Williamson said on Tuesday during the results presentation...
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