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Old Mutual Says Life Businesses Had Worse Mortality Claims Experience Than Anticipated
Old Mutual Says Resolutions On Remuneration Policy, Remuneration Implementation Report Did Not Achieve Requisite Majority Of Shareholder Votes
Old Mutual Revises Medium Term Targets For 2023
Old Mutual Limited is a financial service company, which is focused on providing financial solutions to individuals, businesses, corporations and institutions across 17 countries and three regions Africa and Asia. Its business includes Old Mutual Personal Finance offers wealth creation and protection products, as well as asset management, in the middle-income market; Old Mutual Mass & Foundation Cluster offers savings and protection products to customers in the lower-income and foundation market; Old Mutual Corporate provides investment, insurance and consultancy services to retirement funds and companies of all sizes; Old Mutual Wealth & Investments Cluster offers clients access to an array of investment offerings, styles and asset classes; Old Mutual Insure that provides short-term insurance services to personal, commercial and corporate customers, and Old Mutual Africa offers life and savings, property and casualty, asset management and banking services.
Mutualpark, Jan Smuts Drive Pinelands
Trevor Andrew Manuel
Independent Non-Executive Chairman
Iain George Williamson
Chief Executive Officer, Executive Director
Casparus Gerhardus Troskie
Chief Financial Officer, Executive Director
Heloise Van Der Mescht
Acting Chief Operating Officer
Richard Graham Treagus
Chief Risk Officer
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A coronavirus pandemic which lasts five years, another pandemic in a decade, and ever more transmissible variants are among the scenarios life insurers are predicting after COVID-19 claims jumped more than expected in 2021.
South African Breweries (SAB), part of Anheuser-Busch InBev, said on Tuesday it was looking at making COVID-19 vaccinations mandatory for staff across its operations, the latest company in South Africa to consider such a move.
* Underestimates COVID-19 death claims again, depletes provisions
A consortium led by South African investment company Brait Plc has revived plans to exit glass bottle maker Consol Glass, two sources said, possibly via an initial public offering (IPO) three years after a previous failed attempt.
South Africa's rand was flat on Thursday, with investors weighing conflicting signals from the U.S. Federal Reserve that pushed the dollar away from two-month highs.
South African insurer Old Mutual said on Wednesday it would distribute $734 million in shares in lender Nedbank among its shareholders, reducing its stake in the bank to 7.2% from 19.4%.
South Africa's Old Mutual said on Wednesday it was too early to determine whether additional provisions related to COVID-19 will be required at the end of its first half-year that runs to June 30.
South African insurer Old Mutual paid out 2.7 billion rand ($193 million) worth of COVID-19 related death claims in the first quarter, it said on Friday, leaving about 1.3 billion rand in reserves set aside to help it manage the pandemic.
South African insurer Old Mutual said on Friday it had paid out 2.7 billion rand ($192.94 million) worth of COVID-19 related death claims in the first quarter of the year, leaving around 1.3 billion rand in its reserves set aside to help it manage the pandemic.
South African insurer Old Mutual Ltd warned on Monday of a full-year loss, saying it had been forced to increase provisions and reserves related to the COVID-19 pandemic, sending its shares down more than 3%.
Zimbabwe's markets regulator on Tuesday licensed a U.S. dollar-denominated stock exchange to operate in the resort town of Victoria Falls, part of efforts to lure foreign investors to a country grappling with severe foreign exchange shortages.
Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
* Russian rouble, stocks jump as manufacturing activity rebounds
* Swings to basic loss per share, warns of full-year profit hit
South Africa's insurer Old Mutual on Tuesday scrapped its interim dividend, replaced targets and warned of a full-year profit drop after posting a basic loss per share of 128.5 cents ($0.0764) in the six months to June 30.
* Company says sales still below last year's levels (Adds shares, detail)
Old Mutual said on Monday it expects to post a loss per share for the first half of 2020 as it deals with a series of difficulties from the COVID-19 pandemic including weak business volumes and a spike in business interruption claims.
South Africa's financial watchdog is consulting with lawyers and the insurance industry on a potential test case to clarify whether insurers should pay rejected claims from firms hit by the impact of the coronavirus, it told Reuters on Thursday.
* Many customers say they won't qualify (Adds comment from Santam, paragraphs 11,12)
South African small businesses fighting rejected coronavirus-related claims said insurers' offers of relief are too little too late for many and could leave some already struggling to survive with nothing at all.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.