, South Africa’s biggest insurer by assets, has encountered shareholder opposition to its pay packages for top executives, days after lender faced similar disapproval. Owners of almost 32% of Old Mutual’s stock rejected the company’s remuneration policy, which sets out the performance metrics for directors and executives, at its annual general meeting on Friday. And holders of 29% of the shares voted against the implementation of a report that lays out how much executives earned.