Old Mutual’s profits skyrocketed
Old Mutual Zimbabwe has multiplied by almost 6 times its after-tax net profits at 91.8 million USD in 2016 inflated by outstanding financial products. The insurer’s total revenues amounted to 460.5 million USD, a 126% increase.
Non-banking investment products witnessed a 202% increase, going from a loss of 126.2 million USD in 2015 to 1a profit of 28.8 million USD in 2016.
The good performance at the stock market has resulted in an increase in the company’s securities portfolio value. The gross written premiums have grown by 3% at 188.8 million USD.
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