Insurance company Old Mutual Plc (ODMTY.PK,OML.L) said it will showcase some of its businesses including Emerging Markets, Nedbank and Property & Casualty businesses from today through December 6. On this occasion, the management will hold interactive sessions including its distributing capabilities in Africa, particularly South Africa.
Further, Old Mutual said its acquisition of a majority stake in Oceanic's Nigerian property & casualty business has been completed.
The group has 2015 targets for Emerging Markets of nine million customers, return on equity in the range of 20-25 per cent and profits from Old Mutual Africa equivalent to 15 percent of those of Old Mutual South Africa. Additionally, the group said that its expects a return on equity in the range of 15-20 per cent, an underwriting margin in the range of 4-6 percent and a combined ratio in the range of 94-96 per cent, from 2016 onwards in its Property & Casualty business.
Source: RTT News
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