Old Mutual’s new-business growth masks mixed trends
Large corporate risk sales boosted the headline figures, while Wealth Management recorded higher living annuity and endowment sales and guaranteed annuity sales declined.
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Old Mutual earnings set to fall despite operating growth
Life APE sales and gross flows rose 21%, while results from operations are expected to increase, but investment returns have put pressure on profitability.
Unclaimed retirement benefits – a problem that won’t go away
Better member data, stronger engagement, and AI-assisted tracing may improve future outcomes, but billions of rands in legacy retirement savings are likely to remain unclaimed.
More early signs that the two-pot system is working
Data from Alexforbes and Sanlam suggests more members are preserving retirement savings, though it is too soon to know whether the shift will last.
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.
COFI will test whether retirement funds are truly member-first
Old Mutual Corporate says the real COFI test is cultural: funds must start with the member outcome and build governance around it.
COFI could redraw the lines of accountability in umbrella funds
COFI’s outcomes-based framework may push governance responsibility beyond trustees and require umbrella funds to prove that members are better off.
Old Mutual sees rise in retirement savings preservation under two-pot system
The system appears to be changing member behaviour at exit from employment, even as most eligible members continue to make withdrawals.
Old Mutual and YuLife partner on digital-first employee benefits programme
The new offering pairs group risk cover with gamified wellness tools to meet the rising demand for digitally enabled workplace benefits.
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%.
