Liberty Holdings swings into loss amid Covid-19 provisions

Financial services group Liberty Holdings swung into an almost R2.2bn loss in the six months to end-June, after establishing a pandemic reserve to deal with the fallout from Covid-19.

The insurer and asset manager, which was founded in 1957 by Donald Gordon, said net external third-party cash inflows rose 11% to R14.7bn during the period, largely due to good inflows to money market funds from institutional managers in a risk-averse environment.

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