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Company History

Old Mutual has a history of more than 160 years as a South African-based mutual society prior to its public listing in 1999. On this page you can access some of our historical highlights from 1845 to the present, pre- and post our demutualisation.

2013

Old Mutual acquires 22seven in South Africa.

Old Mutual establishes operations in Nigeria through the acquisition of Oceanic Life.

2012:

Old Mutual strengthens its distribution capability through the acquisition of Aiva in Uruguay.

Old Mutual pays out a Special Dividend to shareholders and consolidates shares at a ratio of 7 new ordinary shares for 8 ordinary shares.

Old Mutual sells Skandia Nordic to Skandia Liv.

Ralph Mupita appointed new Chief Executive Officer of Old Mutual South Africa and Emerging Markets on 01 February 2012.

Old Mutual from 1996-2009

2009:

Kuseni Dlamini appointed new Chief Executive of Old Mutual (SA).
Paul Hanratty appointed CEO of Old Mutual plc Long Term Savings division.

2008:

Julian Roberts appointed new Chief Executive.
Jim Sutcliffe, Old Mutual Chief Executive, steps down.

2007:

Old Mutual SA redefines its investment profile with the launch of the Old Mutual Investment Group (SA) that comprises 12 performance-driven, autonomous investment businesses.

2006:

Paul Hanratty appointed MD of Old Mutual (SA)

Old Mutual registers on "A" List of the StockholmsbÖrsen AB/Stockholm Stock Exchange (SSE).

2005:

  • Chris Collins replaces Mike Levett as Chairman.
  • Old Mutual announces its Black Economic Empowerment deal.
  • Nedcor Limited renamed Nedbank Group Limited.
  • Old Mutual offers to buy Skandia.

2004:

Mutual & Federal Investments (Proprietary) Limited announces the results of its offer to acquire the minority interests in Mutual & Federal Insurance Company Limited ("Mutual & Federal")

2003:

  • Old Mutual purchases Sage Life (Bermuda)
  • Old Mutual sells Gerrard Management Services Limited to Barclays Bank plc.

2001:

  • Roddy Sparks is appointed MD of Old Mutual (SA).
  • Unified Life Insurance Co. is acquired and renamed American Life.
  • Nedcor and Old Mutual join forces in offshore private banking venture in the acquisition of Fleming Offshore Banking. The company was renamed Gerrard Private Bank but is now known as Fairbairn Private Bank.
  • Old Mutual Kotak Mahindra Life Insurance Co. Ltd India is launched. This is a joint venture between Old Mutual and Kotak Mahindra in India.
  • Old Mutual acquires Fidelity & Guarantee Life for $635mn.
  • Jim Sutcliffe takes over as Chief Executive of Old Mutual.

2000:

£525mn acquisition of the Gerrard Group. Mutual & Federal acquire CGU Holdings SA.

1999:

Old Mutual demutualises and lists on LSE, JSE, ZSE, MSE and NSE.

1997:

Old Mutual acquires leading UK private client stockbroker and investment manager Cape-Cure Myers to form Capel-Cure Sharp. Assets top R307bn at end June 1998.

Old Mutual from 1946-1995

1995:

  • Old Mutual Investment Advisers is established in Boston, USA. Old Mutual opens offices in Hong Kong and Guernsey.
  • Old Mutual turned 150 on the 17th of May.

1982:

Old Mutual becomes the first South African life assurer to receive R1bn in premium income in one year.

1971:

Old Mutual’s premium income exceeds R100mn a year.

1966:

Old Mutual forms the SA Mutual Unit Trust Company Limited to administer its mutual fund/unit trust activities.

1954:

Old Mutual issues its millionth policy.

Old Mutual from 1896-1945

1927:

Old Mutual opens its first office in Zimbabwe (then Rhodesia).

1910:

South Africa becomes a Commonwealth Union. Old Mutual Chairman John X. Merriman is elected first premier of the Cape.

Old Mutual from 1845-1895

1870:

Gold discovered in the then Transvaal province. Old Mutual’s emblem is designed by Board Chairman Charles Bell. He also designed the Cape Colony’s first postage stamps in 1850.

1845:

The 166-member Mutual Life Association of Cape of Good Hope is founded – with no initial capital other than the premiums of its first policyholders.

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