THE boss of South Africa’s second-biggest insurer, Old Mutual, says the group is well on track to launch its new bank later this year with a “compelling value proposition” that will set it apart from existing players in the market.
Speaking at the group’s full-year results presentation on Wednesday for the year ended 31 December 2023, Old Mutual group CEO Iain Williamson said the insurer is well aware that it is entering a very competitive space.
However, he stressed that the group is doing so with eyes open. “The proof is in the pudding, yes, but watch this space,” he declared.- moneyweb.co.za