Loading...
See More

Emerging markets boost Old Mutual sales

Nov 03 2011 10:29 Reuters

Company Data

OLD MUTUAL PLC [JSE:OML]

Last traded 0
Change -0,5
% Change 0
Cumulative volume 7668661
Market cap 165.35bn

Last Updated: 19-12-2014 at 04:41. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Old Mutual makes Zimbabwe BEE deal

Market turmoil may delay Old Mutual US IPO

Nedbank, cost cuts boost Old Mutual

Old Mutual scraps property fund listing

Omigsa: SA needs to reassure investors

Nedbank earnings to beat target

 
London - Insurer Old Mutual [JSE:OML] posted third-quarter life sales at the top end of expectations, lifted by growth at its emerging markets business.

Life insurance sales rose 8% to £358m, coming in at the top end of analyst expectations which ranged between £314m and £373m with consensus at £340m, according to a forecast calculated by the company.

Old Mutual, an Anglo-South African financial conglomerate with operations in over 30 countries, also reported unit trust sales of £3.4bn, up 1%.

"Despite very turbulent market conditions, this has been another quarter of strong operational performance... with sales growth driven primarily by our emerging markets business," said CEO Julian Roberts in a statement on Thursday.

Earlier this year, he said the group is committed to selling its majority stake in South African lender Nedbank and has not ruled out smaller disposals before the end of 2012 to hit debt reduction targets.

Shares in Old Mutual closed at 109.7 pence on Wednesday, valuing the company at £5.8bn.

NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...