Emmerson Njanjamangezi, Group Features Editor 
OLD Mutual Insurance Company’s (OM) gross written premiums (GWP) went up by 729 percent to $1,3 billion during the year ended December 31, 2020 due to an uptick in customers taking up US$ policies.
In a statement accompanying the insurer’s results, group board chairman Bongai Zamchiya said the unit’s profit before tax on cost basis leapt 506 percent to $665 million during the period, mainly driven by growth in revenue.
Inflation adjusted total assets increased by 15 percent to $1,8 billion as the nominal growth of 460 percent was higher than inflation for the year of 348 percent.
“Net earned premiums grew by 903 percent from $66 million to $661 million mainly driven by increases in the nominal value of premiums due to the impact of inflation as well as growth in volumes.
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