Old Mutual expects massive profit slump
Posted On: Aug. 27, 2020 9:06 AM CST
South African insurer Old Mutual Ltd. expects its earnings to slump by up to 72% year-over-year to between 1.4 billion South African rand ($83 million) and nearly ZAR 2 billion in the first six months, Independent Online reported. The crisis has caused a decline in business volume and an increase in COVID-19-related claims.