Johannesburg – Old Mutual has flagged the slow pace of the vaccination rollout and the impact this will have on curbing infection and mortality.
Since the beginning of the pandemic, Old Mutual has seen am increase in mortality claims.
The company tripled its more than R1.3-billion short-term Covid-19 provision at the end of June last year to R5,5-billion to end-December.
Old Mutual also noted its customer base remains financially constrained.
The insurer is paying a final dividend despite the billions set aside for Covid-19 related provisions.
Although full-year profits were slashed by 74-percent, the group says it’s confident about its financial position going forward.
While the company says it’s had conversations with pharmaceutical companies about procuring the vaccine for its employees, it has opted to leave the procurement and roll-out process to the government.
However, it does indicate government needs to ramp up its rollout plan.
