THE G SPOT
Not many green shoots for Old Mutual
It’s anything but the best of times for SA’s insurers, with high unemployment, low growth and weak, volatile equity markets and now dawn raids to deal with, after the Competition Commission swooped on the offices of Old Mutual and seven other prominent life insurers
01 September 2022 - 05:00
Old Mutual shares fell over 8% on Tuesday on the release of its interim numbers to end-June, as headline earnings per share slid 7% and assets under management fell by a similar margin. And now there’s the Competition Commission probe to deal with too. The FM spoke to CEO Iain Williamson.
What exactly is the commission after?..
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