The country's second biggest short-term insurer, Mutual & Federal Insurance Company, issued a further cautionary on Tuesday advising shareholders that the competitive sale process initiated by Old Mutual Plc, the company's controlling shareholder, relating to the sale of Old Mutual's entire shareholding in the company, is ongoing.

"Accordingly, shareholders are advised to continue to exercise caution when dealing in the company's securities until a detailed announcement is made," it said.

I-Net Bridge