Old Mutual Lifts Earnings and Dividend as Strategy Reset Gains Traction

Old Mutual ( (ODMUF) ) just unveiled an update.

Old Mutual reported a 13% rise in results from operations to R9.8 billion and a 24% increase in adjusted headline earnings to R8.3 billion for 2025, supported by improved performance in Life and Savings and Old Mutual Insure, as well as strong shareholder investment returns. Group equity value per share edged up 2% to R19.80, return on net asset value climbed to 15.2% within target, and the shareholder solvency ratio remained robust at 162%, enabling an 8% year‑on‑year uplift in the total dividend to 93 cents and continuation of a R3 billion share buyback.

Management has sharpened strategy around “Unlocking Value” and “Generating Growth,” devolving accountability to business clusters, driving a R2.5 billion cost‑saving programme and reshaping portfolios to improve quality and returns, including tighter lending and underwriting. While value of new business fell 52% and margins declined to 1.2% due to strengthened persistency assumptions and weaker annuity and umbrella sales, Old Mutual is prioritising margin restoration, deeper leadership in Southern Africa and the build‑out of OM Bank, with performance targets now embedded in incentive structures for 2026.

More about Old Mutual

Old Mutual Limited is a South Africa–based diversified financial services group operating across life insurance, asset management, banking and short‑term insurance. The group focuses on retail and corporate customers in South Africa and the wider Southern African region, with growing contributions from businesses such as Old Mutual Insure, Wealth Management and OM Bank.

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