Old Mutual becomes the second insurer this year to use share premium to clear its accumulated losses.
By
George Ngigi
Correspondent
Nation Media Group
Old Mutual Holdings is seeking to restructure its balance sheet with the goal of clearing accumulated losses, a decision that will allow it to pay dividends.
Fraudulent claims are estimated to constitute a fifth of the total claims made, with medical covers being the main target.
Faulu has struggled with profitability, having gone for six years without a profit since Sh387.54 million posted in 2019.
Business Day TV spoke to Casper Troskie, CFO at Old Mutual
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