Capital raise buoys FM Reinsurance

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FIRST Mutual Reinsurance (FMR) says its parent company First Mutual Reinsurance Proprietary has availed over BWP21 million this year to support operations, as well as to provide underwriting security in a bid to improve underwriting capacity.
In a statement accompanying full year to December 31, 2021 financial results, FMR chairman Oliver Mtasa said the company remains a solid security following the conclusion of the capital raise transaction of BWP61 million.

“The company will maintain a cautious approach in the management of its investment portfolio, with core focus on value enhancement. Money market interest rates are expected to improve but remain negative in real terms as double-digit inflation will limit opportunities for real growth in this sector,” he said.