Old Mutual reports 41% rise in annual profits

South Africa-based Old Mutual reported a 41% rise in annual profit on Tuesday, but shares in the insurer fell by more than 2% as it raised provisions to cover higher-than-expected claims linked to Covid-19 deaths. Headline earnings per share, the main profit measure in South Africa, rose to 163.8 cents last year from 116.1 cents a year earlier. <a href="https://kaya959.co.za">Kaya 959</a>