Old Mutual: bruised — but ignore the noise
The insurer has a long way to go to catch up with its rivals, and may even miss its operating earnings target
It was supposed to be a carefully choreographed return to SA. When Old Mutual relisted on the JSE last year, the "new" vehicle was what shareholders and analysts had been looking for. It was a business anchored in Africa, and one that had put a line under its disastrous investments in the UK and US.
Yet its share price since relisting has fallen 25% to R21.20...