OLD MUTUAL MAY PUMP 600M INTO US LIFE SUBSIDIARY

South Africa-based, London-listed financial services group Old Mutual could put as much as $300m into its US life subsidiary, company spokesman Matthew Gregorowski said late last week, in an interview cited by Bloomberg. “We are committed to maintaining the risk-based capital ratio at 300% and may need to inject between $200m and $300m into the US business next year”, he said. CEO Julian Roberts told reporters that the company was exploring the feasibility of moving the administration of its long-term European retail business to Cape Town in order to reduce costs. Old Mutual said earlier this year that it would be streamlining its operations.