Pan-African financial services group Old Mutual have seen profits surge 35 per cent last year due to "exceptional sales growth". The London-listed group, which is Africa's largest insurer by assets, revealed that profits totalled 7.1bn rand (£295m) throughout 2023, Chief exec Iain Williamson said the group's success was underpinned by "exceptional sales growth", with gross written premiums climbing 14 per cent. The group saw sales growth of 17 per cent across its life segments, with new business growth of 37 per cent, its full-year results revealed. Old Mutual added that it expected to roll out its new bank within the next 12 months. Shares closed up 6.95 per cent.

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