Old Mutual's old-school B-BBEE deal
There's a new B-BBEE transaction on the horizon. Old Mutual (JO:OMUJ) (LON:OMU) has announced a R2.8 billion deal that will see the company's Black shareholding increase by more than...
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Old Mutual News & Analysis
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News24.com | Old Mutual plans a R2.8bn BEE scheme to boost black ownership to over 30%
Old Mutual is proposing a new BEE scheme that will boost its black ownership from 25% to more than 30%.
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News24.com | Old Mutual's R245m in flood-related claims the 'tip of the iceberg'
Old Mutual Insure said the extent of damage to infrastructure and property is slowly becoming apparent. But it's still too early to tell what the total claim volume will likely be.
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South Africa’s best and worst short-term insurers, according to customers
South African consumers are becoming increasingly critical of the short-term insurance industry, says Consulta, commenting on the findings from the latest South African Customer Satisfaction...
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News24.com | Old Mutual Insure eyes more acquisitions and partnerships
Old Mutual Insure says it will continue investigating acquisition and partnerships opportunities to grow its 9% market share.
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Old Mutual optimistic about growth
Promises to grow from the higher base achieved in FY2021.
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Old Mutual profit up, but shares fall on Covid provisions
Has repeatedly underestimated Covid-19 claims levels.
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News24.com | Old Mutual records R6.8bn in excess Covid-19 death claims - but it still doubled profits
Old Mutual recorded R6.8 billion in excess Covid-19 death claims in 2021. Its retail business alone paid out R13 billion in Covid-19 death claims.
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Old Mutual says death claims worse than anticipated
Financial services group Old Mutual said Tuesday (15 March), that high infection rates from the second and third wave of Covid-19 continued to impact its business and employees.
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Headache for investors who are looking to take money out of South Africa
A major easing of foreign-exchange controls presents South African money managers with the dilemma of whether or not to move more money offshore.
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SA investors face quandary over offshore exposure
An amendment to prudential rules announced in last month’s budget enables pension and mutual funds to invest 45% of their assets abroad, up from 30% previously.
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Which South African Insurer Has The Most Satisfied Customers?
The latest South African Customer Satisfaction Index (SA-csi) for Life Insurance (2021) conducted by Consulta reveals how satisfied customers are with their life insurers over the last...
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News24.com | Futuregrowth almost half black-owned after Old Mutual sale
Futuregrowth Asset Management, South Africa’s biggest specialist fixed-income investor, said it is almost half owned by black investors after Old Mutual agreed to sell part of its holding to...
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Futuregrowth almost half black-owned after Old Mutual sale
AWCA bought the 21.2% stake in Futuregrowth for an unspecified amount, the fund manager, which oversees R193 billion, said in a statement.
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Who's doing what this week in the South African M&A space?
Exchange Listed Companies ARB (JO:ARHJ) has received a firm intention offer from Masimong Electrical to acquire from minorities (excluding certain shareholders) the remaining 37.07% of...
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Quilter grows assets but the market wanted more
The Quilter (JO:QLTJ) brand was born out of Old Mutual (LON:OMU)'s restructuring and corporate break-up. Quilter is a wealth management business in the UK and internationally, with...
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Long4Life's take-private process is official
In the world of Takeover Law, a "firm intention letter" is the document that kicks off the process in earnest. Until such a document exists, the deal is nothing more than a potential...
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Anglo’s Coal Retreat May Boost South African Fossil-Fuel Output
(Bloomberg) -- Under pressure from investors and environmentalists, Anglo American (JO:AMSJ) (LON:AAL) Plc exited its South African coal business this week, but the spinoff could have an...
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BRIEF-Old Mutual Says Ernst & Young Recommended Joint External Auditor From FY Ending Dec. 31, 2022
May 4 (Reuters) - Old Mutual Ltd (LON:OMU) OMUJ.J :* OLD MUTUAL - AUDIT COMMITTEE RECOMMENDED, PROPOSED APPOINTMENT OF ERNST AND YOUNG INCORPORATED AS JOINT EXTERNAL AUDITOR FROM FY ENDING...
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BRIEF-Old Mutual Appoints Sizeka Magwentshu-Rensburg As Lead Independent Director
May 3 (Reuters) - Old Mutual Ltd (LON:OMU) OMUJ.J :* JSE: OMU - APPOINTMENT OF LEAD INDEPENDENT DIRECTOR* OLD MUTUAL - SIZEKA MAGWENTSHU-RENSBURG HAS BEEN ELECTED AS LEAD INDEPENDENT...
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African private equity fundraising fell in 2020 due to pandemic -association
By Chijioke OhuochaABUJA, March 30 (Reuters) - African private equity raised less cash for investments in 2020 compared with the previous year as a result of the economic fallout of the...
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UPDATE 2-S.Africa's Old Mutual restores dividend despite annual loss
* Declares dividend of 35 cents per share, down 53%* Swings to full-year basic loss* Shares fall 3%* Sets new strategy to deliver on promise of growing value(Adds details,...
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South African Markets - Factors to watch on March 23
JOHANNESBURG, March 23 (Reuters) - The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Tuesday.COMPANIESFY...
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BRIEF-Old Mutual FY Adj HEPS 54.3 Cents
March 23 (Reuters) - Old Mutual Ltd (LON:OMU) OMUJ.J :* JSE: OMU - ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020* OLD MUTUAL - BOARD OF DIRECTORS HAS APPROVED AND DECLARED A FINAL...
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S.Africa's Old Mutual restores dividend despite full-year loss
JOHANNESBURG, March 23 (Reuters) - South Africa's Old Mutual (LON:OMU) OMUJ.J declared a dividend of 35 cents per share on Tuesday, but kept it 53% lower than a year earlier after...
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UPDATE 2-Investec shares drop as British bank drags again
* Investec expects profit to be 20-29% lower* Shares fall 4.8%* CEO says no concerns around paying final dividend* Chairman to step down(Recasts, updates shares, bullets, CEO comments,...
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UPDATE 1-South Africa's rand extends recovery, stocks slide
(Adds latest prices, analyst comments)JOHANNESBURG, March 10 (Reuters) - South Africa's rand firmed on Wednesday, extending gains from the previous session as appetite for higher yielding...
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UPDATE 2-South Africa's Old Mutual warns of full-year loss on COVID-19 provisions hike
* Hikes provisions, reserves related to COVID-19* HEPS to remain positive but plummet* Shares fall almost 3% (Adds shares, context)By Emma RumneyJOHANNESBURG, March 8 (Reuters) - South...
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Old Mutual sees profit drop as it raises provision by $260.50 mln
March 8 (Reuters) - South Africa's Old Mutual (LON:OMU) OMUJ.J forecast a plunge of between 69% and 79% in its 2020 adjusted earnings on Monday, as the insurer raised its short-term...
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BRIEF-Old Mutual Sees FY AHEPS Between 64.9 - 44.0 Cents
March 8 (Reuters) - Old Mutual Ltd (LON:OMU) OMUJ.J :* OLD MUTUAL - REMAINS WELL CAPITALISED DESPITE SOME MATERIAL ONE OFF NEGATIVE ITEMS IMPACTING OUR 2020 EARNINGS* OLD MUTUAL - IN SOUTH...
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South African Markets - Factors to watch on March 8
The following scheduled company announcements, equity and currency market moves may affect South African markets on Monday. COMPANIES - Retailer {{erl-41396||Massmart MSMJ.J, majority-owned...
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UPDATE 1-South Africa's rand rallies as budget hopes build
(Adds latest prices, analyst comments)JOHANNESBURG, Feb 5 (Reuters) - South Africa's rand firmed on Friday to end the week in the black, boosted by signs of a smaller fiscal deficit and...
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UPDATE 1-S.African insurer Old Mutual sees annual profit to slump over 20%
(Adds business interruption details) JOHANNESBURG, Jan 25 (Reuters) - South Africa's third-biggest insurer Old Mutual Ltd (LON:OMU) OMUJ.J said on Monday its headline earnings per share...
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S.African insurer Old Mutual expects full-year profit to fall more than 20%
JOHANNESBURG, Jan 25 (Reuters) - South Africa's third-biggest insurer Old Mutual Ltd (LON:OMU) OMUJ.J said its headline earnings per share (HEPS) for the year ended Dec. 31 will be down...
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BRIEF-Old Mutual Sees FY HEPS Down More Than 20%
Jan 25 (Reuters) - Old Mutual Ltd (LON:OMU) OMUJ.J :* OLD MUTUAL - OPERATING CONDITIONS ACROSS OUR BUSINESS HAVE REMAINED CHALLENGING DURING SECOND HALF OF 2020.* OLD MUTUAL - GROSS FLOWS...
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