LONDON, Feb. 13, 2002 (PRIMEZONE) -- Mutual & Federal Insurance Company Limited ("Mutual & Federal"), the South African general insurance group in which Old Mutual plc ("Old Mutual") (LSE:OML) has a 51% interest, has today issued its financial results for the year ended December 31, 2001.
The full text and table of results of the Mutual & Federal announcement is available on SENS, the JSE Securities Exchange News Service and on Old Mutual's website, www.oldmutual.com. The results have been drawn up in accordance with South African Generally Accepted Accounting Practice (GAAP) and will be consolidated in the accounts of Old Mutual in accordance with UK GAAP. Old Mutual will release its preliminary results on 25 February 2002.
Commenting on Mutual & Federal's results, Julian Roberts, Group Finance Director of Old Mutual said: "This is a solid performance by the company and follows the completion of the successful integration of CGNU's business in South Africa."