About the Old Mutual Group
Who we are
We provide investment, savings, life assuranceLife assurance An insurance policy which pays out a lump sum on the death of the policy holder., asset managementAsset managementAlso known as investment management, asset management is the professional management of various securities/assets such as shares, bonds, real estate etc to meet the goals of the investor., banking and property & casualty insurance in Africa, Europe, the Americas and Asia. We have over 16 million customers and approximately 57 000 employees.
Our vision is to be our customers' most trusted partner - passionate about helping them achieve their lifetime financial goals.
Founded in 1845, we have expanded from our origins in South Africa through organic growth and strategic acquisitions. We have been listed on the London and Johannesburg stock exchanges, among others, since 1999.
We operate through market-leading international and local brands including Old Mutual, Nedbank and Mutual & Federal.
We operate under the Skandia brand in the UK; Italy; France and Colombia.
Growing and transforming our business to lead in a responsible and sustainable way:
- In South Africa we will be the leading and most trusted financial services Group through driving increased alignment between OMSA, Nedbank and Mutual & Federal
- In the Rest of Africa we will continue towards becoming an African Financial Services Champion while growing our other emerging market businesses
- In the UK we will build the best Retail Investment business through growing and transforming Old Mutual Wealth
- In the US we will continue to improve and grow our multi-boutique asset management business
- Across the Group we will become the leader in Responsible Business
We maintain a strict criteria for keeping businesses within the Group. They are required to:
- Operate within our capital and risk requirements
- Be capable of achieving 15% ROE
- Add value to another part of the Group
- Be capable of creating future value for shareholders
How we operate
To be our customers’ most trusted partner we need to be responsible in all our daily decisions and actions. This is why we are committed to being a responsible business in each of the markets in which we operate. We express this through our application of the five pillars of responsible business, through our corporate values and our interaction with our stakeholders:
- Responsible to our customers
- Responsible investment
- Responsible to our employees
- Responsible to our communities
- Responsible environmental management
We pursue value by balancing the risk assumed with the capital required and view good governance as a vital ingredient of operating a successful business.
As a Group we are governed by the EU solvency regulations and our local businesses are governed by the regulatory bodies of the country in which they operate. At 31 December 2013, we had an FGD surplus of £2.1 billion and liquidity of £1.3 billion. For the year ended 31 December 2013, Old Mutual reported adjusted operating profits before tax of £1.6 billion (on an IFRS basis) and funds under management from core operations of £294 billion.
Our values and people
Key to delivering this strategy is adhering to our core values and continuing to invest in our people as we embrace the richness of cultures across the Group.
- Pushing beyond boundaries
We bring these together through ACT NOW!
- Aim high and take your team with you
- Customer first - they're the reason we're here
- Treat the business like it's our own
- Need to listen carefully and talk honestly
- Own our decisions – decide and deliver
- Win together – help others succeed