Old Mutual Insurance invests in non-monetary assets

OLD Mutual Insurance Company (OMI) says its investment approach has remained skewed towards non-monetary assets, with the firm exploring opportunities to invest excess capital in businesses in the short-term insurance value chain.

In a statement accompanying the financial results for the year ended December 31, 2022, chairman Bongai Zamchiya said the firm would continue to explore ways to effectively allocate capital and preserve value for shareholders in the inflationary operating environment.

Blended inflation statistics released by the Zimbabwe National Statistics Agency show month-on-month inflation mounting unsustainably in May 2023, gaining 13,3 percentage points on the April 2023 rate of 2,4% to 15,7%.

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