Old Mutual

Old Mutual Limited is a pan-African insurance, investment, savings, and banking group. The business is currently headquartered in South Africa to provide grants and scholarship support at universities across South Africa.

Old Mutual was established in 1845 in South Africa as a mutual insurance company by John Fairbairn, along with a few other famous Cape Town figures, such as the liberal politician, Saul Solomon. The original name "The Mutual Life Assurance Society of the Cape of Good Hope" was changed to "The South Africa Mutual Life Assurance Society" in 1885 before changing to the current Old Mutual. In 1999, Old Mutual spun off and was listed on the London Stock Exchange and other stock exchanges. It is now listed on several Stock Exchanges, including Johannesburg, Zimbabwe, Namibian, and Botswana.

The company operates through the long-term savings business that offers life insurance, pensions, and investment products in southern Africa, Europe, Asia, and Latin America. In addition, Old Mutual's short-term insurance service is also available through Mutual & Federal in southern Africa.

Old Mutual intends to increase clients' savings and wealth through active and direct wealth management or a selection of funds and managers for clients to invest in. This wealth management is offered through five key business clusters, including Nedbank Business Banking, Nedbank Capital, Nedbank Wealth, Nedbank Corporate, and Nedbank Retail.

In addition to insurance activity, Old Mutual South Africa awards a large number of scholarships annually to excellent matriculation and actuarial students at universities in South Africa. The company also offers qualified actuary employees a partial break from school before the actuary exam, with a pay raise if they pass the exam.

Founded: 17 May 1845
Headquarters: Johannesburg, South Africa

Website: https://www.oldmutual.com/