Old Mutual Profile
Old Mutual Limited provides life assurance, asset management, banking, and general insurance services in North America, Europe, southern Africa, Latin America, and Asia.
U.K. and Offshore
This business provides products that serve the needs of long-term investors in the U.K. and international offshore markets.
Skandia Investment Solutions is an investment platform. This platform gives advisers and their customers access to Individual Savings Accounts (ISAs), PEPs, and Collective Investment Accounts, which are provided by Skandia MultiFUNDS Limited. In addition, the platform offers an approved pension wrapper and U.K. and offshore life assurance bonds.
Skandia Investment Management Ltd (SIML) is an asset management company. It provides multimanager funds created by Skandia Investment Group, the part of the Skandia group that specializes in investment research and the construction of multimanager funds.
Skandia International is the company’s offshore and cross-border specialist, working in partnership with other Skandia and Old Mutual businesses. It includes Royal Skandia, Skandia Life Ireland, Old Mutual International, and Skandia Leben.
Skandia U.K.
Skandia U.K. focuses on long-term investments. It allows each customer to have a personalized and flexible investment portfolio, suited to their goals and risk appetite. The company provides tools for customers to analyse and construct the portfolio using open-architecture solutions which give access to approximately 1,000 funds from fund management companies, as well as manager-of-managers funds created both in-house and externally. The company’s target market in the U.K. is medium- to high-net worth individuals and products are distributed through independent financial advisers (IFAs).
Pensions: The company provides a range of pension wrappers to meet the retirement-planning needs of individuals, employers and trustees. Its pension products offer investment choice in funds where the underlying investments are through third-party fund managers.
Investment bonds: The company offers a single-premium investment bond. As with pensions, the bond offers access to third-party funds and blended investment solutions, all managed by third-party fund managers.
Protection: The company also offers premium protection solutions in the form of a unit-linked whole life product and critical illness cover. Customers include the self-employed and entrepreneurs, as well as customers seeking protection linked to inheritance tax solutions.
Skandia International: Skandia International provides a range of single and regular-premium insurance wrappers designed for private, trustee and corporate investors, local residents in selected markets and expatriates. The business is focused on six geographic regions: Asia, Middle East, the U.K., South Africa, South America, and Europe.
Nordic
This business operates in Sweden, Denmark, and Norway, offering a range of products for both retail and corporate customers, including traditional life, unit-linked, healthcare insurance, banking, financial advisory, and mutual funds. The company’s operations focus on four end-customer groups: Private Sweden, Corporate Sweden, Private Norway, and Corporate Denmark.
Markets and products: The company has a combined Nordic customer base of approximately 2.5 million customers. Its Corporate business operates in Denmark and Sweden, serving small and medium enterprises, large companies, international corporates, and the public sector. It distributes its products through independent financial advisers (IFAs) and other external partners.
Corporate Sweden and Denmark offer products and financial advice from unit-linked, traditional life and healthcare businesses.
The Retail business operates in Norway and Sweden, targeting affluent and mass affluent private customers. This market is served mainly through directly employed advisers, the Internet, and IFAs.
Private Sweden offers savings products and financial advice from banking, unit-linked, mutual funds, and traditional life business. Private Norway offers products and financial advice from bank and healthcare businesses.
Unit-linked: The company offers a range of unit-linked funds in various classes and with varying risk profiles. Funds, including those offered by the company’s own fund companies, are managed externally and managers are selected and monitored using proprietary evaluation process.
Traditional life: Skandia Liv is active in both the private and corporate pensions segments of the Swedish traditional life market. The company provides insurance products with a security profile featuring long-term savings with a guaranteed yield plus protection.
Mutual funds: The company offers unit trust products through banking subsidiary, SkandiaBanken. Skandia Fund Products’ offerings are available to customers via SkandiaBanken for unit-linked savings, direct savings, and individual pension savings.
Banking: SkandiaBanken offers an online retail banking service. It also serves as a direct distribution channel, targeting self-service customers with a range of savings products through a new online platform.
Private healthcare: The company offers private healthcare products to companies and their employees. Its healthcare division also provides support to unit-linked and traditional life business in Sweden and Denmark.
Europe and Latin America
Europe and Latin America business (ELAM) provides long-term insurance and savings products across continental Europe and in Latin America.
Markets and products: The company’s products include both unit-linked insurance and mutual funds. These are invested through a range of open-architecture funds in various asset classes, including funds selected and tracked various processes.
Southern Africa
The company operates the financial services business in South Africa, providing wealth management, investment products, retirement savings, life, disability, and health insurance to individuals and groups. The company also offers financial services in other parts of Africa through operations in Namibia, Zimbabwe, Malawi, Kenya, and Swaziland. Its banking business in Africa is conducted by Nedbank Group, in which the company has a 55 percent controlling interest. The company also has a 74 percent controlling interest in Mutual & Federal Insurance Company Limited, the South African general insurance company.
North America
The company’s activities in North America include annuities, life insurance and asset management. U.S. Life offers a portfolio of annuities and life insurance products distributed through agents across the United States. Old Mutual (Bermuda), part of U.S. Life, is an offshore business that develops and distributes investment products to non-U.S. customers in a variety of markets worldwide.
U.S. Life business consists of two businesses: U.S. Life onshore, and offshore Bermudan business. They serve different customer groups, offering different products.
Asia
The Asia region consists of operations in two countries, China and India, which are managed through joint ventures.
China: The company’s business in China, Skandia:BSAM is a 50:50 life insurance joint venture with the Beijing State-Owned Asset Management Company (BSAM). It provides retail unit-linked assurance solutions for high net worth individuals and operates in Beijing, Shanghai, Jiangsu Province, and Guangdong Province.
India: Kotak Mahindra Old Mutual Life Insurance Ltd is the company’s joint venture with Kotak Mahindra Bank. It has approximately 200 branches in 142 cities across India. The company sells unit-linked investment policies and offers a range of traditional life assurance products.
History
Old Mutual Limited was founded in 1845.
