Old Mutual, whose half-year earnings dropped by two-thirds, is unlikely to show meaningful recovery for another year as it forecast worsening Covid-19 death claims and weak demand for insurance products in an economy expected to suffer its deepest contraction since the 1930s.
CEO Iain Williamson, who took over permanently in July after leading the company for over a year on a temporary basis, said it was possible that even by the end of 2021,"we’re not quite back where we were at the end of 2019".A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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Old Mutual swings into a loss amid Covid-19 hitA drop off in new business and volatile markets hurt the group, while it prepares for the insurance fallout from the pandemic
Source: BDliveSA - 🏆 12. / 63 Read more »
Old Mutual swings into a loss amid Covid-19 hitA drop off in new business and volatile markets hurt the group, while it prepares for the insurance fallout from the pandemic
Source: BDliveSA - 🏆 12. / 63 Read more »