Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Banner Left
Banner Right

Insurer Old Mutual reports 11% rise

Insurer Old Mutual reports 11% rise

LONDON – Insurance company Old Mutual PLC reported an 11 per cent rise in first quarter life sales yesterday, helped by growth in South Africa and newly acquired savings firm Skandia.

The London-listed company – South Africa’s largest insurer – said in a trading update that life sales on an annual premium equivalent basis, which strips out big sales of single-premium policies, rose to 395 million pounds (N$4,4 billion) for the three months to March 31. A five per cent rise in life sales in South Africa and contributions from Sweden’s Skandia offset a 16 percent fall in life sales in the United States.Shares in Old Mutual, which controls more than 30 different brands, including asset managers and banking operations such as Nedbank Group Ltd., were 2,4 per cent lower at 195 pence on the London Stock Exchange.Old Mutual gained control of Sweden’s Skandia in January with a US$6,8 billion hostile takeover.The deal increased its presence in Britain, where Skandia has a fast-growing business.Skandia is retaining its well-known brand name as will its other units such as Heitman LLC, a US-based real estate investment company.- Nampa-APA five per cent rise in life sales in South Africa and contributions from Sweden’s Skandia offset a 16 percent fall in life sales in the United States.Shares in Old Mutual, which controls more than 30 different brands, including asset managers and banking operations such as Nedbank Group Ltd., were 2,4 per cent lower at 195 pence on the London Stock Exchange.Old Mutual gained control of Sweden’s Skandia in January with a US$6,8 billion hostile takeover.The deal increased its presence in Britain, where Skandia has a fast-growing business.Skandia is retaining its well-known brand name as will its other units such as Heitman LLC, a US-based real estate investment company.- Nampa-AP

Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!

Latest News