About Old Mutual
What we are
We are an international long-term savings, protection and investment Group. We provide 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 general insurance in Africa, Europe, the Americas and Asia. We have over 14 million customers and approximately 55,000 employees.
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 in the last decade 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, Skandia (in all territories other than Sweden, Norway and Denmark), Nedbank and Mutual & Federal.
Our strategy is to build a long-term savings, protection and investment group by leveraging the strength of our people and capabilities in South Africa and around the world. We will focus, drive and optimise our business to enhance value for shareholders and customers.
Our strategic priorities are:
- Expand our footprint in Africa
- Develop our business in the fast growing South African markets
- Build our Wealth business
- Grow US asset management
- Achieve these aims while maintaining a strong balance sheet, putting customers at the centre of everything we do, promoting a responsible corporate culture.
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% return on equity (ROE)
Add value to another part of the group
Be capable of creating future value for shareholders
How we operate
We are committed to operating responsibly in a social, environmental and economic manner. 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.
For the year ended 31 December 2012, Old Mutual reported adjusted operating profits before tax of £1.6 billion (on an IFRS basis) and funds under management from core operations of £262 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.