Old Mutual Ltd. (ODMUF) has released an update.
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Old Mutual Limited reports a robust double-digit sales increase in the first quarter of 2024, despite global economic challenges such as high inflation and geopolitical conflicts. The company’s diverse business operations, particularly in Africa, drove a 10% growth in Life APE sales and a 7% rise in gross written premiums, signaling strong performance across various sectors. Strategic moves included the planned exits from insurance businesses in Tanzania and Nigeria, and the advancement towards establishing OM Bank, showcasing the company’s commitment to strategic execution and value creation.
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