Old Mutual to Cut 200 US Jobs

Old Mutual has cut “close to” 200 jobs in its US life insurance business, about half of its American workforce.

The UK-based insurer employs 57,000 people in 38 countries.

The firm has sold its Australian business, and will shutter its Hong Kong office in June.

Old Mutual PLC is an international insurance company and investment management company. Originally based in South Africa, it is now London-based. Old Mutual is the largest financial company listed on the JSE Securities Exchange by market capitalization. It is a constituent of the FTSE 100 Index.