Vaccine hesitancy is leading to more death claims, Old Mutual says

Old Mutual says Covid-19 vaccine hesitancy in SA has been higher than anticipated, underscoring the urgency to get the majority of the population vaccinated before the fourth wave, which scientists predict will strike in December.

“Our life businesses had a worse mortality claims experience than anticipated, which has resulted in the excess deaths impact on profit of approximately R6.6bn for year to date,” the company said in a statement. Net client cash outflow was R2.6bn in the three months to end-September, compared with net client cash inflow of R3.6bn in the same period a year ago.

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