Mission Statement, Vision, & Core Values (2025) of Old Mutual Limited.

An Overview of Old Mutual Limited

General Summary of Old Mutual Limited

Old Mutual Limited was founded in 1845 in Cape Town, South Africa. It has grown from a mutual assurance society primarily focused on life insurance into a diversified financial services group. Old Mutual operates across various segments including Insurance, Asset Management, Banking, and Investment Services.

As of 2024, Old Mutual offers a range of products including life insurance, health insurance, retirement solutions, investment products, and asset management services. The company's focus on technology and customer service has enhanced its product offerings, allowing it to adapt to changing consumer needs.

In terms of sales, Old Mutual reported a robust performance with total revenue reaching ZAR 100 billion in 2024. This marks a significant increase compared to prior years, driven largely by growth in its insurance and asset management sectors.

Company's Financial Performance in the Latest Financial Reports

In the latest financial year ending December 2023, Old Mutual reported a record-breaking revenue of ZAR 100 billion, representing a year-on-year growth of 12%. This growth was primarily fueled by a 15% increase in gross written premiums in their insurance segment and a 10% rise in assets under management to ZAR 950 billion.

The operating profit for the company stood at ZAR 12 billion, reflecting an increase of 8% from the previous year. The return on equity (ROE) improved to 18%, underscoring the company’s effective management of its capital.

Introduction to Old Mutual as a Leading Company in the Industry

Old Mutual Limited stands out as one of the leading Companies in the financial services industry across Africa. With its diversified portfolio, strategic focus on innovation, and commitment to sustainability, Old Mutual has carved a niche as a reputable and reliable financial partner.

The company’s strong market position is further supported by its extensive distribution network and robust financial health. Old Mutual's dedication to customer-centric solutions has solidified its reputation in a competitive landscape, making it a remarkable player worth exploring further.

Mission Statement of Old Mutual Limited

Mission Statement Overview

Old Mutual Limited's mission statement serves as a crucial guiding framework for the company, defining its purpose and aspirations in the financial services sector. The mission emphasizes a commitment to delivering value to customers, driving sustainable growth, and fostering long-term relationships based on trust. This alignment with strategic objectives is essential for achieving success in various market conditions, ensuring that the company meets the evolving needs of its stakeholders.

Core Component 1: Customer Centricity

At the heart of Old Mutual's mission is a strong focus on customer centricity. This principle underscores the importance of understanding and addressing the unique needs of individual customers and businesses.

• In 2022, Old Mutual reported a customer satisfaction score of 81%, reflecting its commitment to providing high-quality services.
• The company aims to expand its retail client base by 3 million customers by the end of 2024, enhancing accessibility to its financial products.
• Old Mutual has introduced several innovative digital services, including an online claims processing system that has improved turnaround times by 40%.

Core Component 2: Sustainable Growth

Old Mutual's mission emphasizes sustainable growth, highlighting its goal of balancing profitability with social responsibility. This aspect of the mission ensures that the company's operations contribute positively to the economic and environmental landscape.

• The company achieved a revenue of R 101.5 billion in 2022, showcasing its robust financial performance.
• Old Mutual aims to allocate 20% of its annual profits to social and environmental initiatives over the next three years.
• In 2023, the company increased its investment in renewable energy projects by 15%, aligning with global sustainability goals.

Core Component 3: Trust and Integrity

Trust and integrity are foundational elements of Old Mutual's mission statement. The company recognizes that building trust with clients and partners is essential for fostering long-lasting relationships.

• In the latest annual report, 90% of surveyed clients indicated they felt confident in Old Mutual's commitment to ethical practices.
• The company was recognized in 2023 with the Great Place to Work® certification, reflecting its internal culture of integrity and transparency.
• Old Mutual has implemented a robust compliance framework, ensuring adherence to regulatory standards across its operations, with a compliance rate of 98% in 2022.

Vision Statement of Old Mutual Limited

Long-term Growth and Development

Old Mutual Limited's vision emphasizes creating long-term growth and development for its clients and stakeholders. This commitment is reflected in its financial performance, with a reported net profit margin of 10.2% for the 2023 fiscal year. The company has also increased its dividend per share by 5%, demonstrating a robust financial strategy aimed at sustainable growth.

Empowerment and Inclusivity

The vision statement underlines the importance of empowerment and inclusivity in the financial sector. In 2023, Old Mutual reported that 47% of its employees were women, a testament to its commitment to diversity. Additionally, the company has focused on financial literacy programs, reaching over 1 million individuals across various communities.

Client-Centric Approach

Old Mutual's vision includes a strong client-centric approach, with a significant investment in technology to enhance customer experience. In 2022, the company allocated $150 million towards digital transformation initiatives. Customer satisfaction scores improved, with the Net Promoter Score (NPS) increasing to 65, indicating strong client loyalty and service effectiveness.

Responsibility Towards Society

The company acknowledges its responsibility towards society, which is evident in its corporate social responsibility (CSR) activities. In 2023, Old Mutual invested $50 million in community development projects, focusing on education and healthcare, impacting more than 300,000 lives. The firm also aims for a 30% reduction in carbon footprint by the year 2025 as part of its sustainability goals.

Table: Key Financial Metrics (2023)

Core Values of Old Mutual Limited

Integrity

Integrity is a foundational core value for Old Mutual Limited, representing their commitment to doing the right thing and adhering to high ethical standards.

In 2023, Old Mutual achieved a score of 85% in the annual Ethics Index Survey, reflecting employee perceptions of the company's integrity. This was a notable improvement from 80% in 2022.

Examples of integrity in action include their rigorous compliance programs and initiatives aimed at fostering transparency. The company has invested over $5 million in ethics training programs aimed at enhancing employee understanding of compliance and ethical behavior.

Customer-Centricity

Customer-centricity emphasizes placing customers at the heart of decision-making processes and service delivery.

Old Mutual rolled out a new Customer Experience Strategy in 2023, resulting in a 25% increase in customer satisfaction scores, as shown in their annual customer feedback reports.

Additionally, the launch of their digital platform attracted 450,000 new customers in less than a year, showcasing their responsiveness to customer needs and preferences.

Innovation

Innovation is crucial as Old Mutual aims to stay ahead in a rapidly changing financial landscape.

In 2023, the company allocated $10 million to research and development for new financial products. The introduction of their AI-driven financial advisory service has already served over 100,000 clients since its launch.

Old Mutual also partnered with tech startups to enhance their digital offerings, introducing 15 new products in the market tailored to younger demographics.

Collaboration

Collaboration encompasses teamwork and partnership, both internally and externally, to achieve shared goals.

The 2023 Employee Engagement Survey indicated a 90% collaboration score among teams, attributed to new organizational structures promoting cross-departmental initiatives.

Old Mutual participated in several community projects, partnering with local NGOs, leading to the successful execution of 30 community development programs, benefitting over 15,000 individuals.

Accountability

Accountability at Old Mutual means owning actions and decisions, ensuring they are responsible stewards of their resources.

In the fiscal year 2023, Old Mutual reported a 50% reduction in operational errors due to enhanced accountability measures implemented across various departments.

The company also published a detailed sustainability report, showcasing their commitment to responsible business practices, including a pledge to reduce carbon emissions by 30% by 2025.