Old Mutual Ltd

Old Mutual Ltd reported a 21% increase in Life APE sales and gross flows for its first half of 2026, with underlying growth of roughly 12% excluding large corporate gains, alongside an 8% dividend increase and an additional ZAR 1 billion share buyback. The insurer has achieved ZAR 936 million in cumulative cost savings, about ZAR 330 million of that in the first half, and targets at least ZAR 1 billion by the end of 2026. OM Bank reached approximately 750,000 customers by June 2026 and is expected to cross 1 million shortly, with deposits growing to ZAR 1.6 billion by August 2026. Adjusted headline earnings per share fell 27%, mainly on lower shareholder investment returns and active bond positions, while Old Mutual Insure absorbed ZAR 376 million in catastrophe losses net of reinsurance from severe flooding, cutting its underwriting margin by about 3%. CEO Jurie Strydom also announced that Ranen Thakurdin will become CFO designate from 1 January, and that Roger Jardine has taken over as Chair following Trevor Manuel's retirement.