Old Mutual reports a decline in profit, marking its first drop since 2022, as risk-averse sentiment linked to ongoing conflict in the Middle East reduces investment returns.
Bloomberg attributes the weaker performance to a broader “risk-off” environment triggered by fallout from the US-Iran situation, which dampens investment activity and market outcomes for the insurer. Moneyweb focuses on the company’s interim results, reporting that adjusted headline earnings fall 30% to R2.95 billion for the six months ended June. The sources agree the decline is tied to investment performance pressures, though they differ in emphasis—one highlighting the geopolitical market backdrop, the other the specific earnings figures.
