Group Structure
Old Mutual plc is an international savings and wealth management company based in
the UK. Originating in South Africa in 1845, the group has a balanced portfolio
of businesses offering asset management, life assurance, banking and general
insurance services in over 40 countries, primarily South Africa, Europe and the
United States. Old Mutual is listed on the London Stock Exchange the JSE Limited,
among others.
Old Mutual’s operations globally cover the following areas outside South Africa:
- Africa
- Asia Pacific
- Europe
- South America
- United Kingdom
- United States
View a graphical representation of Old Mutual's global footprint.
The penetration of these areas enables us to benefit from economies of scale and
sector and geographic diversification. It allows us to weather market
fluctuations and other challenges more robustly than our smaller more regional
competitors.
Africa
Old Mutual operates principally in South Africa but has operations in Kenya,
Malawi, Zimbabwe and Namibia.
Kenya
Old Mutual is the leading provider of financial services solutions for
individuals and institutions in Kenya. While Old Mutual Kenya is the country’s
fastest growing life assuror (having been established in 1920), Old Mutual Asset
Management (Kenya) provides international standard asset management to the
Kenyan market.
Malawi
In addition to being a leading financial services provider, Old Mutual Malawi
invests in a number of projects in the education and health sector. During 2005
it donated MK3 million to various organisations and schools.
Zimbabwe
Old Mutual Zimbabwe opened its offices in 1927. It claims a dominant position in
the country’s investment arena and provides life assurance as well as unit
trusts.
Namibia
Old Mutual is one of Namibia’s largest financial services companies. Through its
multi-faceted business, it has encouraged thousands of Namibians to save for
retirement, disability, and their heirs. In doing this, Old Mutual has fuelled
the growth of this country and its people by creating a cycle of wealth,
producing excellent investment returns for customers and shareholders.
Asia Pacific
India
Kotak Mahindra Old Mutual Life Insurance Ltd (KMOM) - a joint venture with the
Kotak Mahindra Group - offers a range of individual and group life assurance
products.
China
Skandia:BSAM, a 50:50 joint venture with the Beijing State-owned Asset
Management Company (BSAM), sells unit-linked products and has licenses to
operate in Beijing, Shanghai and Jiangsu Province (Nanjing).
Australia
Through its acquisition of Skandia - an international long-term savings company
– the Old Mutual brand is able to extend to Australia. Skandia Australia
delivers a choice of flexible, long-term savings solutions providing more than
60 investment options and using the talents of over 25 specialist investment
managers.
United Kingdom
Old Mutual (UK) is focused on delivering organic growth in the UK businesses by
continually developing products and services. In 2001 Selestia was launched in
the UK market to provide Independent Financial Advisers (IFAs) with a system
through which they can access over 700 funds. Selestia also enables them to
construct and maintain investment portfolios.
Guernsey-based Old Mutual International provides offshore investment products and
services for international investors.
Europe
Skandia
Old Mutual acquired the leading financial services company, Skandia, in February
2006. The company is active in some 20 countries on four continents. Europe is
the base, and the largest markets are Great Britain and Sweden.
The Nordic division includes all operations in Sweden and Denmark as well as a
branch office in Norway. It covers all of Skandia’s product categories: private
healthcare, banking services, pensions, protection and savings, and investments.
The Europe division includes operations in Central Europe: Germany, Austria,
Poland and Southern Europe: Switzerland, Spain, France, Italy and Portugal.
Palladyne Asset Management
Palladyne Asset Management is also part of the Old Mutual Group. This specialist
asset management firm in Netherlands offers asset management services for the
retail market through a network of independent financial planners.
United States
Old Mutual has built significant asset management and life assurance businesses
in the United States through a number of acquisitions. The US life business
focuses on attaining growth and profitability through the orderly expansion of
tradition middle markets. Developing and strengthening competitive advantages in
product development, back office outsourcing and distribution relationships
remain key.
The US asset management business combines the investment focus of boutique
managers with the stability and resources of a large international firm.
South America
Through the acquisition of Skandia in February 2006 Old Mutual has managed to
infiltrate the South American investment market. Skandia has offices in:
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