On 21 March 2012 Old Mutual plc sold the Skandia businesses in Sweden, Norway and Denmark to Skandia Liv. All Skandia businesses and their customers outside of Sweden, Norway and Denmark are unaffected by this transaction. These businesses will continue to be owned by Old Mutual and operate under the Skandia brand. In addition, Royal Skandia, which is owned by Old Mutual, is continuing to sell in Sweden under the Royal Skandia brand.
Old Mutual plc is an international long-term savings, protection and investment Group.
Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance to more than 15 million customers in Europe, the Americas, Africa and Asia.
Old Mutual plc is listed on the London Stock Exchange and the Johannesburg Stock Exchange, among others.
In the year ended 31 December 2011, the Group reported adjusted operating profit before tax of £1.515 billion (on an IFRS basis) and had £267.2 billion of funds under management, from core operations.
What we are
We are an international long-term savings, protection and investment Group. We provide life assurance, asset management, banking and general insurance in Africa, Europe, the Americas and Asia. We have over 12 million customers and approximately 55 000 employees.
Our Vision
To be our customers' most trusted partner – passionate about helping them achieve their lifetime financial goals.
Our History
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.
Our Brands
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
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:
Develop the customer proposition and experience
Deliver high performance in all business units
Share skills and experience across the Group
Build a culture of excellence
Simplify its structure to unlock value
We maintain a strict criteria for keeping businesses within the Group, they must:
Operate within their 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
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.
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 2011, we had an FGD surplus of £2.0 billion and liquidity of £1.5 billion. For the year ended 31 December 2011, Old Mutual reported adjusted operating profits before tax of £1.5 billion (on an IFRS basis) and funds under management from core operations of £267 billion.
Our values & 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.
Related links
Board of directors
Group Executive
Group websites