Old Mutual Group


Old Mutual provide investment, savings, insurance and banking services in Africa, Europe, the Americas and Asia. We have 18.9 million customers and approximately 64,000 employees.

Our vision is to be our customers' most trusted partner - passionate about helping them achieve their lifetime financial goals.

Our History

Old Mutual began in Cape Town in 1845 as South Africa’s first mutual life insurance company, offering financial security in uncertain times. Today, 171 years on, the Group is made up of four strong businesses operating successfully in their respective markets and enabling positive futures for their stakeholders. We have been listed on the London and Johannesburg stock exchanges, among others, since 1999.

Our business

We have four strong businesses in Old Mutual Emerging Markets (OMEM), Nedbank, Old Mutual Wealth (OMW) and Old Mutual Asset Management (OMAM).

Our strategy

To execute a managed separation of the Group into four strong standalone entities. A managed separation of the Group will free the constituent parts into four independent businesses, each having a capital structure and dividend policy suitable for its own strategy that will allow it to access its natural shareholder base.

Following the managed separation, the lead regulator for each business will then
be the same as the local regulator. We will manage the separation of the
Group in a manner that aims to enhance value to shareholders over time.

Our strategic proprities

  1. Working with our businesses in delivering enhanced performance relative to their peer groups.
  2. Stewardship of the managed separation process, balancing value, cost, time and risk.
  3. Fulfilling the Group’s ongoing regulatory obligations; and managing the Group’s debt obligations, central cost reductions and distributions to shareholders.

Our business model


Responsible business

Our Positive Futures Plan
Our commitment to be a leader in responsible business stems from our purpose in society, which is to help our customers thrive by enabling them to achieve their lifetime financial goals, while investing their funds in ways that will create a positive future for them, their families, and the community and world at large. In August 2015 we launched our Positive Futures Plan which focuses on the two areas where we believe we can make a material difference:

  • financial wellbeing
  • responsible investment

Financial wellbeing
We define financial wellbeing as: being financial secure, able to provide for yourself and your family, now and in the future. We enable financial wellbeing through financial education and inclusion.

Responsible Investment
Responsible investment is a cross-cutting approach to investment that integrates the consideration of material environmental, social and governance factors into investment and ownership practices, creating green growth investment vehicles.

The Plan in action
The Plan is already embedding into the business. Since its launch in August 2015, we have grown strong partnerships to drive it forward and implemented key initiatives.

We are establishing a common approach to measure the impact of our Plan – to help us report progress against our six goals. Our aim is to report not just what Old Mutual has delivered but what the effect is for our business and the long-term benefit to society.

Our approach emphasises that our customers are at the heart of our business, and will help us to continue building on the strong foundation of ethical values, treating customers fairly and good governance that is so critical to our custodianship of people’s money.



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.

With effect from 1 January 2016, the Group measures Group solvency in accordance with the Solvency II Directive. The Group Solvency II surplus was £1.6 billion at 1 January 2016, representing a Group Solvency II ratio of 135%. This is based on the standard formula approach and excludes £0.8 billion of surplus from the South African businesses. For the year ended 31 December 2015, Old Mutual reported adjusted operating profits before tax of £1.7 billion (on an AOP basis) and had £304 billion of funds under management from core operations (excluding Rogge).

Our values and people

We are committed to being a responsible business with a view to the long term and will focus on areas where our businesses can make a material impact and create meaningful change. Our businesses will continue to be guided by our strong values:

  • Respect
  • Integrity
  • Accountability
  • 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