Old Mutual Gearing For Life Insurance Penetration In Africa
VENTURES AFRICA – CEO of Old Mutual Group, Julian Roberts sees both life and short-term insurance penetration in Africa as an important part of the firm’s strategy.
According to Roberts, the company will use “specialist mass-market skills in South Africa to target the growing middle classes in Africa”.
“For example, we will roll out the full retail mass market product suite in Nigeria in 2013, using the expertise, knowledge, product and back-office systems from our South African MFC business”, he added in an interview with Renier De Bruyn, an investment analyst at Sanlam Private Investments (SPI) recently.
The interview is published in SPI’s latest official monthly newsletter, Mastermind.
Old Mutual is Africa’s biggest life insurer. It is also an international wealth manager targeting emerging markets, where it will focus on growing its footprint in Africa. It also has operations in the developed world, where it wants to grow Old Mutual Wealth and the US Asset Management.
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