
Old Mutual earnings rise as insurance, investments and Africa drive results
Results from operations rose 13% to R9.8bn as insurance profitability improved and investments crossed R1 trillion in assets under management.

Results from operations rose 13% to R9.8bn as insurance profitability improved and investments crossed R1 trillion in assets under management.

A breakdown of the results shows how the group’s main business clusters performed as it continues repositioning for growth across South Africa, Africa, and India.

Sanlam reported record new business volumes and strong client inflows in 2025, but several weaker headline indicators drew investor attention following the results release.

Currency movements, bond market distortions, reinsurance losses, and strategic investment spending combined to weigh on Sanlam’s reported results.

Lower weather-related claims and disciplined pricing helped lift underwriting profitability in 2025, pushing margins above the insurer’s long-term target range.

Youi delivered strong performance in Australia, but the rand’s appreciation trimmed rand-translated premiums.

Discovery Bank reported its first profitable half, while Discovery Insure’s operating profit jumped by 229%, helped by lower claims and favourable weather.

Alexforbes has launched Alexforbes One, its third umbrella fund and first designed for both internal consultants and IFAs, marking a major step in its strategy to strengthen ties with advisers.

Despite net outflows of £4.9bn, positive market and foreign exchange moves added £9.7bn to assets under management in the year to March 2025.

The medical scheme says it will use its reserves to limit contribution increases, while possibly improving members’ benefits and reducing co-payments.

Alexforbes is focusing on individual consulting as its main growth area, with in-fund asset flows of R3.5 billion for the year.

The allocation to members’ Profit-Share Accounts soars from R620 million to R4.54 billion thanks to strong investment returns.

The group’s after-tax profit from its insurance business increased by 12%, with its funeral plans now covering more than 12 million lives.

The final dividend was 14% higher than last year, while headline earnings rose by 11% to R1.033bn.

South Africa’s second-largest insurer is set to launch a bank that will focus on capturing the mass market segment.