Old Mutual earnings spike as firm gears up to find a new boss Investing Pan-African financial services group Old Mutual recorded headline earnings growth of 20 per cent last year as the firm gears up to find a new CEO. The London-listed group reported 14 per cent growth in adjusted headline earnings, while profit after tax climbed nine per cent in its full-year results. However, the financial services group’s stock price [...]
Old Mutual profit surges 35 per cent as African insurer grows Insurance Pan-African financial services group Old Mutual have seen profits surge 35 per cent last year due to “exceptional sales growth”. The London-listed group, which is Africa’s largest insurer by assets, revealed that profits totalled 7.1bn rand (£295m) throughout 2023, Chief exec Iain Williamson said the group’s success was underpinned by “exceptional sales growth”, with gross written premiums climbing 14 [...]
Old Mutual expects up to 45 per cent jump in profit on ‘exceptional growth’ in new business Insurance Pan-African financial services group Old Mutual has said it saw profits surge as much as 45 per cent last year due to “exceptional growth” in new business.
‘Tragedy’ if John Lewis ownership changes, says ex-boss March 26, 2023 John Lewis changing its ownership model would be “a tragedy”, a former top boss has said. Reports last week suggested the retailer is considering ending its fully staff-owned structure, with the partnership’s chairwoman, Sharon White, exploring plans to sell a minority stake. West Midlands mayor Andy Street, John Lewis managing director until 2016, acknowledged the [...]
Old Mutual: South African savings firm reports subdued growth after pandemic woes March 15, 2022 South African-based investment group Old Mutual experienced subdued growth in 2021 as the country’s economy bounced back from the pandemic. The company’s CEO announced its gross flow increased four per cent to R194.8bn (£9.8m) following a spike in sales over the course of last year. The pandemic however led to it paying out hundreds of [...]
Old Mutual restores dividend despite annual loss March 23, 2021 South Africa’s Old Mutual declared a dividend of 35c per share on Tuesday after swinging to a pre-tax loss in 2020. Group profits were slashed by the pandemic, forcing the company to set aside billions of rand in provisions. Old Mutual cut final dividend by 53 per cent to 35c per share, equating to a [...]
Quilter claws its way back to net inflows but re-platforming nerves hit January 29, 2020 Wealth manager Quilter said it returned to net inflows by the end of 2019, reversing three consecutive quarters of outflows, but overall flows still lagged behind the previous year. Quilter, which was spun out from Old Mutual in June 2018, said flows remained “subdued” in the fourth quarter of 2019 amid adviser nerves about the [...]
Old Mutual suspends chief executive Peter Moyo over ‘breakdown in trust’ May 24, 2019 Insurance giant Old Mutual has suspended its chief executive over what it termed a “material breakdown in trust”. Read more: Merian Global Investors boss steps down after Old Mutual spin off Peter Moyo is suspended with immediate effect, the board told investors this morning, with chief operating officer Iain Williamson stepping in to fill the [...]
Quilter boosts profits despite challenging market conditions March 12, 2019 Wealth management firm Quilter reported increased profits last year despite challenging market conditions. The figures Shares rose six per cent this morning as the firm reported that profit before tax was up 11 per cent to £233m, in its full-year results to the end of December 2018. Read more: Quilter blames market for fall in [...]
Mark Kleinman: Aviva’s missed deadline ensures brickbats February 15, 2019 Viva Aviva? For such a stalwart of blue-chip boardrooms, Sir Adrian Montague suddenly can’t put a foot right. Four years after taking over the chairmanship of Aviva when John McFarlane scuttled off to Barclays, he’s ended up in a rather large pickle of his own making. Sacking Mark Wilson as the insurer’s chief executive last [...]