Old Mutual forecasts H1 loss as coronavirus crisis hammers volumes

Aug 24 (Reuters) - 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.

Old Mutual, one of South Africa’s biggest insurers, forecast basic earnings to be between a loss of 128.5 and 154.2 South African cents per share for the six months ended June 30 versus a profit of 127.3 cents a year earlier. (Reporting by Muvija M in Bengaluru Editing by Rachel Armstrong)


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