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Old Mutual (OMU) investor relations material
Old Mutual Status Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Strategic and operational focus
Transitioning from strategy to execution, integrating medium-term targets into business planning and scorecarding processes as the year ends.
Refined strategic priorities emphasize disciplined execution, operational efficiency, and capital allocation to enhance competitive positioning and growth.
Strong commitment to cost efficiencies and long-term value creation for shareholders.
Progress on revised value creation metrics will be reported from 2026.
Financial performance and flows
Life insurance savings gross flows down 1% year-on-year, with Old Mutual Investments down 18% due to a higher base in Q3 2024 and muted inflows in wealth.
Life APE sales were marginally higher, supported by strong risk sales in Mass and Foundation, but offset by lower guaranteed annuity sales.
Gross flows remained stable, with strong inflows in Africa Regions offsetting declines in Investments.
Net client cash flow was negative, impacted by significant outflows in Investments, partially offset by improved inflows in Africa Regions.
Net flows improved compared to half-year, with outflows reduced; persistency and client retention are being monitored, but no material improvement yet.
Capital, solvency, and buybacks
Over 10% of the share buyback completed, with more than ZAR 400 million repurchased; buyback progress is regularly disclosed.
Solvency ratios declined due to increased prescribed equity shock, raising capital requirements; share buyback already factored into interim solvency numbers.
Additional restructuring costs expected in H2 related to headcount reduction, but no large outstanding provisions anticipated at year-end.
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