LONDON, Feb. 20, 2001 (PRIMEZONE) -- Mutual & Federal Insurance Company Limited ("Mutual & Federal")(MAF.J), the South African general insurance group in which Old Mutual plc has a 51% interest, has today issued its financial results for the year ended 31 December 2000.
Commenting on Mutual & Federal's results, Mike Levett, Chairman and CEO of Old Mutual plc and Deputy Chairman of Mutual & Federal, said: "This was a notable year of progress for Mutual & Federal with its acquisition of CGU Holdings in South Africa and a return to a net underwriting surplus, despite the significant claims earlier in the year from the widespread flooding in the region."