Financial services firm UAP Old Mutual has announced that it anticipates a 25 percent drop in profit for the year ending 31 December 2019.
In a statement to the media, Old Mutual board of directors attribute the expected decline to a weak property market in Kenya and the uncertain political environment in South Sudan.
However, the board expects year on year improvements in underwriting margins and results from operations reflecting good progress in turning around the core insurance business.
Appointment of Non-Executive directors
Furthermore, the board announced the appointed of Richard Treagus and Shailesh Devchad as non-executive directors with effect from 13th November 2019.
