Old Mutual Group

Old Mutual is an international long-term savings, protection and investment group. It provides life assurance, asset management, banking and general insurance in 33 countries (Africa, Europe, the Americas and Asia), with over 15 million customers  and approximately 55 000 employees.

Vision

To be the customer's most trusted partner - passionate about helping them achieve their lifetime financial goals.

History

Founded in 1845, the company has expanded from its origins in South Africa in the last decade through organic growth and strategic acquisitions. Old Mutual is listed in the UK, South Africa and on three other African exchanges.

Brands

Old Mutual Group operates through market-leading international and local brands including Old Mutual, Skandia, Nedbank and Mutual & Federal.

Strategy

The strategy is to build a long-term savings, protection and investment group by leveraging the strength of its people and capabilities in South Africa and around the world. Old Mutual PLC will focus, drive and optimise the business to enhance value for shareholders and customers.

Strategic priorities:

1. Develop the customer proposition and experience
2. Deliver high performance in all business units
3. Share skill and experience across the Group
4. Build a culture of excellence
5. Simplify Old Mutual's structure to unlock value

Maintain a strict criteria for keeping business within the Group, they must:

• 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 Old Mutual operates

Old Mutual is 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 2010, we had an FGD surplus of £2.1 billion and liquidity of £1.4 billion.

Values and people

Key to delivering this strategy is adhering to core values and continuing to invest in its people as the company embraces the richness of cultures across the Group. Old Mutual and Dibanisa are committed to operating responsibly in a social, environmental and economic manner.