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    OMU   ZAE000255360

OLD MUTUAL LIMITED

(OMU)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 11/26
12.2 ZAR   -7.37%
11/24OLD MUTUAL : Presentation pdf
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11/23S.Africa's Old Mutual lays out growth plans, but pandemic bites
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11/23Old Mutual to Seek Acquisitions
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Old Mutual : expands investments in innovationá(NaN)

08/17/2021 | 11:34am EST

Old Mutual expands investments in innovation

Old Mutual Limited has announced that it is expanding its investments in innovation through a new collaboration with venture capital firm Anthemis Group. Anthemis will deploy capital on behalf of Old Mutual through its Anthemis Insurance Venture Growth Fund (AIVGF), focused on series B and C companies in InsurTech.

Old Mutual aims to transform its customer experience by sourcing and deploying innovative solutions across its value chain. This is in line with the Group's refreshed Truly Mutual Strategy to champion mutually positive futures for customers through the breadth of solutions that the Group offers. The collaboration will see Old Mutual act as the exclusive strategic investor for Africa in the AIVGF.

To support this goal, Anthemis and Old Mutual have committed to scout for and/or invest in innovative companies both on the African continent and across the globe that are advancing the digital transformation and disruption of the financial services sector.

Old Mutual CEO, Iain Williamson, commented: "While we have a number of investments in innovation, technology and digitalization, we are excited at the scouting capability Anthemis brings to the Group. We are confident that this collaboration will serve to significantly enhance every aspect of our business, from product solutions to technology, customer experience and servicing, so that we truly become our customers' first choice."

The Group has made good progress in building a compelling customer experience enabled by purpose-led technology over the last year, with some key milestones being achieved. These include:

  • 98% of funeral claims processed in four hours or less
  • 25% of all life claims submitted are on digital platforms, with this number is growing
  • 1 in 10 customers are engaging digitally
  • 175 robots across 50 processes executing 44,000 transactions a week
  • The digitalisation of customer and advisor experiences across the Group are projected to help realise a savings of R750-million by 2022.

"This collaboration with Anthemis will help us to build on this progress and strengthen the core fundamentals that have helped to anchor our brand in the hearts and minds of customers for 176 years and hopefully well beyond," concludes Iain.

The Old Mutual and Anthemis partnership is already live, with the teams working to scope relevant opportunities driving significant impact within the insurance industry.

Ends

Media Queries

Vuyo Mtawa

Head of Communications at Old Mutual Limited

Tel: +27 64 754 6616

Email: VMtawa@oldmutual.com

Alleyne Smith Alleyne

Senior Communications Manager at Old Mutual Limited

Tel: +27 72 733 0911

Email: asmith11@oldmutual.com

Disclaimer

Old Mutual Ltd. published this content on 17 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2021 15:33:09 UTC.


ę Publicnow 2021
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Analyst Recommendations on OLD MUTUAL LIMITED
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Financials
Sales 2021 929 M 1 239 M 1 239 M
Net income 2021 275 M 367 M 367 M
Net cash 2021 763 M 1 017 M 1 017 M
P/E ratio 2021 9,04x
Yield 2021 6,63%
Capitalization 2 646 M 3 534 M 3 528 M
EV / Sales 2021 2,03x
EV / Sales 2022 1,89x
Nbr of Employees 29 861
Free-Float 96,8%
Chart OLD MUTUAL LIMITED
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Old Mutual Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends OLD MUTUAL LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 12,20 ZAR
Average target price 17,33 ZAR
Spread / Average Target 42,1%
EPS Revisions
Managers and Directors
Iain George Williamson Chief Executive Officer & Executive Director
Casper G. Troskie Chief Financial Officer & Director
Trevor Andrew Manuel Chairman
Heloise Van der Mescht Chief Operating Officer
Gcinikhaya Loyiso Gobodo Managing Director-Wealth & Investments
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