Thursday, May 24, 2007

Mutual & Federal Q1 adjusted pre-tax op profit falls

(Reuters) - South African short-term insurer Mutual & Federal posted a 3.5 percent fall in adjusted pre-tax operating profit for the three months to end March as bad weather hit underwriting results.

Mutual & Federal, majority-owned by insurer Old Mutual Plc, said on Thursday adjusted pre-tax operating profit fell to 224 million rand from 232 million last year.


Read more at Reuters Africa

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