Who we areOur Group was established in Cape Town in 1845 as South Africa’s first mutual life insurance company, offering financial security in uncertain times.
Our purpose 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, their communities and broader society. In this way, we significantly contribute to improving the lives of our customers and their communities while ensuring a sustainable future for our business.
We now employ more than 30 000 people and operate in 14 countries across two regions Africa (South Africa, Namibia, Botswana, Zimbabwe, Kenya, Malawi, Tanzania, Nigeria, Ghana, Uganda, Rwanda, South Sudan and eSwatini) and Asia (China)
Our vision and strategy
Our vision is to be our customers’ most trusted lifetime partner, passionate about helping them achieve their lifetime financial goals.
We have defined five strategic pillars, the delivery of which will allow us to sustain and grow the prosperity of the customers, families and communities we serve. In the medium-term we will continue to measure our delivery against the eight battlegrounds until the longer term strategy is fully implemented.
Our five strategic pillars
- Always Present First
- Solutions That Lead
- Old Mutual Cares
- Rewarding Digital Engagement
- Engaged Employees
Our eight strategic battlegrounds
- Defend SA market share in Mass and Corporate markets
- Defend and grow in the SA Personal Finance market
- Improve the competitiveness of Wealth and Investments
- Continued turnaround of Old Mutual Insure
- Turnaround East African business and improve returns across Rest of Africa
- Win the war for talent
- Refresh the technology offering
- Cost efficiency leadership.
Our customer-led approach
Following the listing of Old Mutual Limited in 2018, we unveiled a vibrant new brand identity to reflect our fresh, customer-led approach and stronger focus on Africa. Old Mutual’s visual personality now draws on the optimism, vibrancy and seize-the-day spirit of the continent, reinforcing the message of “Made in Africa for Africans”.
We have re-imagined and strengthened our role and relevance in our customers’ lives. Increasingly, customers tell us that what they need from their financial services provider is closer involvement and understanding, and practical, hands-on support. In short, we are cutting through the intimidating clutter of the financial sector, to serve more as coaches or partners, providing tools and motivation, and helping customers take the small steps that lead to great things.
What we do
We provide financial solutions to individuals, small and medium-sized businesses, corporates and institutions across several market segments and geographies in South Africa, the Rest of Africa and certain other emerging markets.
Savings and protection: Innovative life assurance based product solutions, addressing both protection and savings needs, as well as short term insurance solutions through Old Mutual Insure.
Investments: Growing our customers’ savings and wealth, whether through active and direct asset management through the Old Mutual Investment Group or the selection of funds for customers to invest in through multi-managers.
Lending: Old Mutual offers personal loans and debt consolidation loans tailored to the individual needs of our customers. All loan products are provided through Old Mutual Finance, a licensed financial services and registered credit provider.
Banking: The Money Account is both a low-cost transactional account and a one of a kind unit trust savings account. This innovative banking product is offered by Old Mutual Transaction Services (Pty) Ltd in association with Bidvest Bank Ltd and Old Mutual Investment Administrators, a licensed financial services provider.
Our values define our culture and guide us in our daily business interactions with each other internally and with all our external stakeholders.
- Customer: Champion the customer
- Diversity: The power of diversity and inclusion
- Innovation: Agile Innovation that makes a difference
- Integrity: Always act with integrity
- Respect: Respect for each other and communities we serve
- Trust: Trust and Accountability
We use our values to guide our business dealings with each other, our customers, communities and other stakeholders in line with our own purpose and strategy.
Old Mutual has achieved level 1 status for the first year with a Broad-Based Black Economic Empowerment (B-BBEE) score of 116.14 for the 2019 financial year. Prior to this Old Mutual had consistently achieved level 2 status for ten consecutive years (2009 - 2018). As a responsible business, Old Mutual's business strategy is closely aligned to the National Development Plan (NDP). Old Mutual is one of the key players in facilitating the economic inclusion of more South Africans and helping build a capable state very seriously.
One of Old Mutual's strategic imperatives is the implementation of broad-based Black Economic Empowerment (BEE). We strive to ensure that our economic benefits and opportunities are spread equitably across South African society.