On 14 November 2019, UAP Old Mutual announced a 25% anticipated drop in profit for the year ending 31 December 2019.
The expected decline is attributed to a weak property market in Kenya and the uncertain political environment in South Sudan, according to the Old Mutual board of directors.
Despite this, the board expects year-on-year improvements in underwriting margins and results from operations reflecting good progress in turning around the core insurance business.
Appointment of Non-Executive Directors ¶
Additionally, the board announced the appointment of Richard Treagus and Shailesh Devchad as non-executive directors, effective 13 November 2019.
