
Old Mutual sees strong Q1 as life sales rise and OM Bank customers jump
New life sales rose 28% in the quarter to March, while stronger investment inflows and a better new business margin supported a broadly positive update.

New life sales rose 28% in the quarter to March, while stronger investment inflows and a better new business margin supported a broadly positive update.

The insurer says reinsurance protection has increased significantly, and it has secured full reinsurance for 2026/27 for the first time in three years.

The operating profit more than doubled in 2024, while gross written premiums increased by 9%.

Nearly all business units report strong growth in new business volumes.

OUTsurance South Africa reported an 8.4% increase in gross written premiums for its personal insurance segment and a 71.2% improvement in operating profit for its business insurance.