{"id":62578,"date":"2024-03-12T11:31:15","date_gmt":"2024-03-12T11:31:15","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth"},"modified":"2024-03-12T11:39:50","modified_gmt":"2024-03-12T11:39:50","slug":"old-mutual-expects-profit-jump-on-exceptional-new-business-growth","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth","title":{"rendered":"Old Mutual expects profit jump on \u2018exceptional\u2019 new-business growth"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Old Mutual said \u201cexceptional growth\u201d in new business drove profit at Africa\u2019s biggest insurer by assets as much as 45% higher last year.<\/p>\n

Profit after tax likely increased to as much as R7.59 billion in the 12 months ended 31 December from R5.23 billion a year earlier, the company said in a voluntary trading statement Tuesday.<\/p>\n

Higher interest rates and a recovery in equity markets buoyed investment returns, it said.<\/p>\n

Old Mutual recorded growth in results from operations \u201cdue to strong operational performance underpinned by exceptional growth in new business and value of new business as we continue to gain market share across our segments,\u201d it said.<\/p>\n

The company excludes profit from its business in Zimbabwe because hyperinflation in that country triggers earnings volatility.<\/p>\n

The insurer will publish its results on 27 March.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Old Mutual said \u201cexceptional growth\u201d in new business drove profit at Africa\u2019s biggest insurer by assets as much as 45% higher last year. Profit after tax likely increased to as much as R7.59 billion in the 12 months ended 31 December from R5.23 billion a year earlier, the company said in a […]<\/p>\n","protected":false},"author":84,"featured_media":62577,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-62578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nOld Mutual expects profit jump on \u2018exceptional\u2019 new-business growth - South Africa<\/title>\n<meta name=\"description\" content=\"Old Mutual said \u201cexceptional growth\u201d in new business drove profit at Africa\u2019s biggest insurer by assets as much as 45% h ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Old Mutual expects profit jump on \u2018exceptional\u2019 new-business growth\" \/>\n<meta property=\"og:description\" content=\"Old Mutual said \u201cexceptional growth\u201d in new business drove profit at Africa\u2019s biggest insurer by assets as much as 45% h ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-12T11:31:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-12T11:39:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/03\/sm_1710230951.605098.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Old Mutual expects profit jump on \u2018exceptional\u2019 new-business growth\",\"datePublished\":\"2024-03-12T11:31:15+00:00\",\"dateModified\":\"2024-03-12T11:39:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth\"},\"wordCount\":151,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/03\/sm_1710230951.605098.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-expects-profit-jump-on-exceptional-new-business-growth\",\"name\":\"Old Mutual expects profit jump on \u2018exceptional\u2019 new-business growth - 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