Old Mutual’s operating profit up 4%, led by Insure and Investments
Exceptional underwriting in Old Mutual Insure and a 37% jump in Investments drive overall strength, but Corporate’s life insurance sales slumped 42%.
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Enhanced underwriting and pricing drive Old Mutual Insure’s performance
The operating profit more than doubled in 2024, while gross written premiums increased by 9%.
Old Mutual chief executive to take early retirement
Following 32 years with Old Mutual and nearly five as CEO, Iain Williamson is stepping down in August.
Nethengwe to lead OM Bank as launch draws near
With regulatory approval secured, Old Mutual Bank is set to debut later this year, offering a digital-first banking experience tailored for South Africa’s mass market.
Tribunal ruling draws clear line on Adjudicator’s jurisdiction over unapproved disability claims
The ruling underscores that disputes over unapproved disability claims underwritten by insurers through employer-held policies must be addressed with employers and insurers.
Old Mutual reports double-digit growth in gross flows
The group’s latest trading update discloses a 19% surge in gross flows and a rebound in net client cash flows.
Old Mutual pays out R2.3bn in over 200 000 two-pot withdrawal claims
Financial advisers warn that even small withdrawals can significantly erode retirement income over time.
Retirement funds are the new ‘must-have’ – thanks to the two-pot system
The system is driving a shift in how members engage with their retirement funds. Members are monitoring their savings and reacting to market fluctuations, says Old Mutual.
Lukhaimane urges caution as litigation over beneficiary tracing continues
The SA Retirement Annuity Fund is looking to the Supreme Court of Appeal to overturn a High Court decision in favour of the Pension Funds Adjudicator.
Customer sentiment towards insurers improves despite claims frustrations
King Price came out top in DataEQ’s latest Insurance Sentiment Index, which analyses what consumers are saying about their insurers.
Momentum reports R1.7bn in two-pot withdrawal applications
More than 60% of two-pot withdrawal applicants have come from low-income groups, according to Momentum’s latest figures.
Massive interest in two-pot withdrawals puts administrators to the test
As the two-pot system rolls out, fund administrators are receiving a wave of withdrawal claims, highlighting the financial squeeze many are feeling.
Tribunal upholds FSCA’s debarment of adviser accused of stealing clients’ money
The former Old Mutual adviser claimed the complainants were not his clients but his relatives who had agreed to lend him the money.
FSCA alerts funds of consequences if two-pot rule amendments aren’t submitted by 31 July
Funds that cannot pay withdrawals because their rules are invalid must inform members why they may not be allowed to access their benefits.
10 things people often get wrong about the two-pot retirement system
Old Mutual’s learnings about what people know or expect, based on its interactions with customers and advisers.
Members can expect payment delays when making withdrawals from the savings pot
The allocations to the savings component can happen only from 1 September onwards, says Old Mutual.
Medical schemes assure members that NHI is a long way off
The expected legal challenges to the legislation and the pressure on the state’s finances could delay full implementation of the system for many years.
