Mutual & Federal has published its 2008 figures

The South African insurer has published its 2008 figures. At 9.159 billion ZAR (940.945 million USD), the sums of gross premiums are reporting a slight decrease in comparison with 2007 (-1.75%. The technical result falls from 366 million ZAR (54.186 million USD) in 2007 down to 97 million ZAR (10.282 million USD) in 2008. Pre-tax profits are in free fall. They went down from 1.18 billion ZAR (174.699 million USD) in 2007 to 55 million ZAR (5.830 million USD) in 2008.