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.
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.
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%.
