BRIEF-Old Mutual Sees FY AHEPS Between 64.9 - 44.0 Cents

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BRIEF-Old Mutual Sees FY AHEPS Between 64.9 - 44.0 Cents
Credit: © Reuters.

March 8 (Reuters) - Old Mutual Ltd (LON: OMU ) OMUJ.J :

* OLD MUTUAL - REMAINS WELL CAPITALISED DESPITE SOME MATERIAL ONE OFF NEGATIVE ITEMS IMPACTING OUR 2020 EARNINGS

* OLD MUTUAL - IN SOUTH AFRICA, ACTUAL CLAIMS IN SECOND HALF OF YEAR WERE HIGHER THAN PROVISION RAISED IN H1 2020

* OLD MUTUAL - HAVE INCREASED OUR SHORT TERM PROVISION BY R3,962 MILLION

* OLD MUTUAL - CONTINUE TO MONITOR CLAIMS EXPERIENCE IN 2021; RECORDED ABOUT R1.9 BILLION OF COVID-19 RELATED MORTALITY CLAIMS FOR JANUARY AND FEBRUARY

* OLD MUTUAL-IMPACT OF RECESSIONARY ENVIRONMENT ON CUSTOMERS' DISPOSABLE INCOME, IMPACT OF COVID-19 ON CLAIMS, RESERVING ADVERSELY AFFECTED EARNINGS

* OLD MUTUAL - SEES FY AHEPS BETWEEN 64.9 - 44.0 CENTS

* OLD MUTUAL - REFINED ESTIMATED RESERVE AS MORE DATA BECAME AVAILABLE, RESULTING IN INCREASE IN NET BUSINESS INTERRUPTION RESERVES OF ABOUT R300 MILLION

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