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Old Mutual marks 174th Anniversary!



Foremost pan-African Insurer and leading global financial services group, Old Mutual, in May 2019, marked its 174th years anniversary of providing insurance, savings, investment, lending, and banking solutions to over 11.3 million customers in 13 African countries and China.

In commemoration of the anniversary, Nigerian subsidiaries, Old Mutual General Insurance Company Nigeria and Old Mutual Nigeria Life Assurance Company, on Thursday, May 23rd, 2019, hosted a Diversity Day ceremony themed, “Empowering Africa: The time is NOW to do great things!”, at its Corporate Head Office in Victoria Island, Lagos.

The ceremony was aimed at celebrating Old Mutual’s deep African roots and its commitment to championing financial inclusion, education, and prosperity in Nigeria and on the continent. Old Mutual began operations in Cape Town in 1845 and now offers life protection, general insurance, savings, investments, lending, and banking solutions to 11.3 million customers in 13 African countries and China.

Old Mutual has been operating in Nigeria since March 2013, having acquired the majority stake in Oceanic Life Assurance Company. In January 2014, Old Mutual also acquired a majority stake in Oceanic General Insurance Limited thereby offering both life and general insurance solutions tailored to meet unique individual and corporate client’s needs.

Since its entry into the Nigerian market, Old Mutual has leveraged its proud heritage and expertise, launching a wide range of insurance solutions tailored to meet unique needs of Nigerian’s insurable population and corporate clients’.

Speaking on the anniversary celebration, the Managing Director, Old Mutual Life Assurance Company Nigeria, Keith Alford said; “The significance of this milestone anniversary is not lost on us. We understand that our customers and indeed all our stakeholders expect to draw from the wisdom, know-how and technical capabilities that come with our longevity.

“Having had a long-standing commitment to making a positive impact in the communities and countries where we operate, we know that the Old Mutual brand is trusted for its strong track record of championing a positive and rewarding future, and we intend to deepen and demonstrate these values for more decades to come.

“Today, our operations in Nigeria have been strengthened by strategic partnerships positioning us to serve the market with tailored and innovative insurance solutions.  Our strategic partnership with Ecobank on a Bancassurance gives millions of Nigerians access to our life and general products from over 130 Ecobank branches across the country.  We have also partnered with Roche Limited on our Critical Illness Insurance plan, specifically developed to protect Nigerians from the high cost of some illnesses as well as, with Price Pointe the large wholesale store in Nigeria and the list continues to grow.  We continue to show our unwavering commitment towards championing financial inclusion, education as well as responsible investment and risk management in Nigeria”, Mr. Alford added.

Old Mutual offers savings, individual life Insurance, general insurance, and Group Life Insurance to the Nigerian market.

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