Old Mutual cedes its hardly-profitable activities

Old Mutual is considering the sale of 50% of its shareholding in a life insurance company based in China. The group of English-South African financial services justified this decision by the poor profitability of the joint venture and the stiff competition that strained the Chinese life market.

It is worth noting that the holding has already ceded part of its American subsidiary, Old Mutual Asset, to the Chinese group HNA for the amount of 446 million USD.

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