Old Mutual Ltd. · JSE:OMU
Old Mutual — H1 2022 Earnings Presentation
71 slides from Old Mutual's earnings presentation, Aug 30, 2022
Slide 1: Group Interim Results
GROUP INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 DO GREAT THINGS EVERY DAY
Slide 2: Index
INDEX Enquiries 01 RESULTS PRESENTATION 3 Investor Relations: Sizwe Ndlovu T: +27 (11) 217 1163 E: tndlovu6@oldmutual.com Bonga Mriga T: +27 (11) 217 1042 02 RESULTS COMMENTARY 22 E: bmriga@oldmutual.com A message from the CEO 23 Financial review 28 Communications: Vuyo Mtawa M: +27 (0) 68 422 8125
Slide 3: Highlights
HIGHLIGHTS STRATEGIC HIGHLIGHTS FINANCIAL PERFORMANCE Results from operations (Rm) ➤ The launch of our Bula Tsela scheme makes 4 384 Old Mutual the first insurer to offer shares directly to the Black South African public, and the first to include lower income earners via our retail scheme. It is a t
Slide 4: Financial highlights at 30 June 2022
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS SHIFTING GEARS 2022 ACCELERATING GROWTH INTERIM RESULTS Notes: Notes: AGENDA FINANCIAL HIGHLIGHTS AT 30 JUNE 2022 Alessandro Bottega Strong performance from ou
Slide 5: Our strategic framework and update on commitments to investors
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS OUR STRATEGIC FRAMEWORK UPDATE ON COMMITMENTS TO INVESTORS Alessandro Bottega Accelerating delivery Alessandro Bottega www.presentationists.com www.presentatio
Slide 6: Macro environment in our markets remains challenging
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS MACRO ENVIRONMENT IN OUR MARKETS REMAINS CHALLENGING Increased pressure on the consumer Alessandro Bottega www.presentationists.com South Africa headline CPI Y
Slide 7: Personal Finance and Wealth Management; Old Mutual Corporate
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS PERSONAL FINANCE AND WEALTH MANAGEMENT OLD MUTUAL CORPORATE Improved profitability on reduced mortality claims Alessandro Bottega Responsibly improved sales, m
Slide 8: Old Mutual Africa Regions
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS OLD MUTUAL AFRICA REGIONS Remediation translating into improved sales and profitability Alessandro Bottega www.presentationists.com Life APE sales +28% Strong
Slide 9: Pandemic provisions; Adjusted headline earnings 19% up
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS PANDEMIC PROVISIONS AT 30 JUNE 2022 ADJUSTED HEADLINE EARNINGS 19% UP No additional provisions raised Alessandro Bottega Performance of the core business comin
Slide 10: Disciplined capital management; Group equity value
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS DISCIPLINED CAPITAL MANAGEMENT GROUP EQUITY VALUE Alessandro Bottega Resilient despite market volatility Alessandro Bottega www.presentationists.com www.presen
Slide 11: Performance against medium-term targets
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS PERFORMANCE AGAINST MEDIUM-TERM TARGETS MEDIUM-TERM TARGETS Alessandro Bottega Good progress in H1, FY 2023 targets remain in place Alessandro Bottega www.pres
Slide 12: Conclusion, Q&A and disclaimer
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS DISCLAIMER Alessandro Bottega www.presentationists.com This presentation may contain certain forward-looking statements with respect to certain of Old Mutual L
Slide 13: A message from the CEO
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS A MESSAGE FROM THE CEO I am pleased with the continued growth in sales in the first half of 2022 as we retain our strategic focus on ensuring we become our cus
Slide 14: A message from the CEO
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS A MESSAGE FROM THE CEO JSE SWIX All Share SUMMARY OF GROUP RESULTS STRATEGIC PROGRESS 15 000 I am pleased with the continued growth in Life APE sales of 15% to
Slide 15: A message from the CEO: Outlook and group highlights
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS A MESSAGE FROM THE CEO OUTLOOK GROUP HIGHLIGHTS Global growth is expected to slow over the rest of 2022, especially in the large economies of the USA and Europ
Slide 16: Financial review: supplementary income statement
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS FINANCIAL REVIEW The hedging strategies on the protected equity portfolio, SUPPLEMENTARY INCOME STATEMENT excluding Nedbank, are executed in the form of zero c
Slide 17: Financial review: reconciliation of AHE to IFRS profit
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS FINANCIAL REVIEW RECONCILIATION OF AHE TO IFRS PROFIT AFTER TAX MANAGEMENT OF THE GROUP'S BALANCE SHEET The Bula Tsela B-BBEE ownership transaction, which Rm N
Slide 18: Financial review: balance sheet metrics
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS FINANCIAL REVIEW BALANCE SHEET METRICS Issuance of tier 2 subordinated debt GUARANTEED Rbn (unless otherwise stated) Note H1 2022 H1 2021 FY 2021 Change1 Durin
Slide 19: Financial review: return on net asset value, gearing, embedded value
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS FINANCIAL REVIEW A Return on net asset value C Gearing EMBEDDED VALUE Return on net asset value of 9.6% increased by 60 bps The gearing ratio of 15.8% increase
Slide 20: Financial review: Group equity value and free surplus
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS FINANCIAL REVIEW Property and Casualty Group equity value decreased by 11% reflecting lower valuations of Old Mutual Insure and UAP Old Mutual in Rest of Afric
Slide 21: Interim dividend declaration
FINANCIAL REVIEW INTERIM DIVIDEND DECLARATION The Old Mutual Limited Board declared an interim dividend of 25 cents per ordinary share which amounts to 44% of Adjusted headline earnings. The interim dividend will be paid out of income reserves. We were able to maintain a dividend in line with our pr
Slide 22: Segment Reviews
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 03 South Africa, Richtersveld National Park S 28 17.494, E 16 56.382 SEGMENT R EVI EWS DO GREAT THINGS EVERY DAY OLDMUTUAL Limited Group Interim Results for th
Slide 23: Mass and Foundation Cluster
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS SEGMENT REVIEWS PERFORMANCE HIGHLIGHTS Life profits were materially ahead Profits from the Banking and Lending business were lower than the prior of the prior
Slide 24: Personal Finance and Wealth Management
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS SEGMENT REVIEWS PERFORMANCE HIGHLIGHTS 18-month rolling collection: Performing loan book PERSONAL FINANCE AND Gross flows decreased by 2% to 100 250 000 WEALTH
Slide 25: Personal Finance and Wealth Management
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS SEGMENT REVIEWS Gross flows (R million) Claims experience (%)1 Wealth Management Results from operations decreased by 5%. 25 000 While the underlying operation
Slide 26: Old Mutual Investments
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS SEGMENT REVIEWS PERFORMANCE HIGHLIGHTS Asset Management RFO split by business (R million) OLD MUTUAL INVESTMENTS Despite volatile equity markets Results from o
Slide 27: Old Mutual Corporate
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS SEGMENT REVIEWS Funds above Median (%) – performance to Funds above Benchmark (%) – performance to 30 June 2022 100 30 June 2022 100 OLD MUTUAL CORPORATE 80 80
Slide 28: Old Mutual Insure
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS SEGMENT REVIEWS Strong underwriting profits during the first half of this year Sources of revenue (%) were driven by a favourable death claims experience and t
Slide 29: Old Mutual Insure; Rest of Africa
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS SEGMENT REVIEWS iWYZE Credit Guarantee iWYZE premium growth of 11% was largely driven by the contribution from Insurance Corporation REST OF AFRICA strategic b
Slide 30: Rest of Africa: Southern and East Africa
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS SEGMENT REVIEWS SOUTHERN AFRICA EAST AFRICA Loans and advances were 3% lower Gross written premiums increased Rm (unless otherwise stated) H1 2022 H1 2021 Chan
Slide 31: Rest of Africa: West Africa
SEGMENT REVIEWS WEST AFRICA Gross written premiums increased Rm (Unless otherwise stated) H1 2022 H1 2021 Change by 43% to R124 million due to higher renewal rates of existing schemes and Results from operations (48) (44) (9%) strong new business sales, driven by Gross flows 334 339 (1%) improved br
Slide 32: Unaudited Condensed Consolidated Interim Financial Statements
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 04 U N AU D I T E D CO N D E N S E D South Africa, Natures Valley 33.9807° S, 23.5565° E CO N S O L I DAT E D I N T E R I M F I N A N C I A L STAT E M E N T S
Slide 33: Condensed consolidated income statement
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Index to the unaudited condensed Condensed consolidated income statement consolidated interim financial statements For the six months ended 30 June 2022 for th
Slide 34: Statement of comprehensive income and supplementary income statement
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Condensed consolidated statement of comprehensive income Condensed consolidated supplementary income statement For the six months ended 30 June 2022 For the si
Slide 35: Statement of financial position and cash flows
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Condensed consolidated statement of financial position Condensed consolidated statement of cash flows At 30 June 2022 and 31 December 2021 For the six months e
Slide 36: Condensed statement of changes in equity 2022
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Condensed statement of changes in equity For the six months ended 30 June 2022 Millions Number Foreign Attributable of shares Property Share-based Liability cu
Slide 37: Condensed statement of changes in equity 2021
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Condensed statement of changes in equity For the six months ended 30 June 2021 Millions Number Foreign Attributable of shares Property Share-based Liability cu
Slide 38: Notes: basis of preparation
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements The exchange rates used to translate the operating results, assets and liabilities o
Slide 39: Notes: accounting policies and estimates
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements A: Significant accounting policies A2: Critical accounting estimates and judgements
Slide 40: Notes: accounting estimates and segment information
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements A: Significant accounting policies B: Segment information A2: Critical accounting es
Slide 41: Segmental income statement 2022
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements B: Segment information B2: Segmental income statement Personal Other Group Mass and
Slide 42: Segmental income statement 2021
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements B: Segment information B2: Segmental income statement Personal Other Group Mass and
Slide 43: Segmental statement of financial position
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements B: Segment information B3: Segmental Statement of Financial Position Personal Other
Slide 44: Earnings per share
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements C: Other key performance information (c) Headline earnings per share The Group is re
Slide 45: Return on net asset value; revenue from contracts
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements C: Other key performance information D: Consolidated income statement notes C3: Retu
Slide 46: Revenue and fair value of financial assets
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements D: Consolidated income statement notes E: Financial assets and liabilities D1: Reven
Slide 47: Level 3 fair value disclosure
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements E: Financial assets and liabilities (d) Effect of changes in significant unobservabl
Slide 48: Financial instruments at fair value
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements E: Financial assets and liabilities E2: Financial instruments designated as fair val
Slide 49: Fair value hierarchy; insurance contracts
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements E: Financial assets and liabilities F: Analysis of financial assets and liabilities
Slide 50: Policyholder liabilities
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements F: Analysis of financial assets and liabilities (b) Analysis of policyholder liabili
Slide 51: Insurance contract sensitivity; fair value of properties
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements F: Analysis of financial assets and liabilities G: Non-financial assets and liabilit
Slide 52: Property fair value sensitivity
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements G: Non-financial assets and liabilities (a) Sensitivity analysis G1: Fair value of t
Slide 53: Other notes
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS Notes to the unaudited condensed consolidated interim financial statements H: Other notes Outcome of Zimbabwean Commission Inquiry A commission of inquiry esta
Slide 54: Additional Disclosures
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS ADDITIONAL DISCLOSURES CONTENTS 1. Key Metrics 102 1.1 Key performance indicators 102 1.2 Supplementary performance indicators 102 1.3 Supplementary Income Sta
Slide 55: Key metrics: KPIs and supplementary income statement
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 1. Key Metrics 1. Key Metrics 1.1 Key performance indicators 1.3 Supplementary Income Statement Rm (unless otherwise stated) H1 2022 H1 2021 H1 2020 H1 2019 Rm
Slide 56: Key metrics: invested shareholder assets, free surplus
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 1. Key Metrics 1. Key Metrics 1.5 Invested Shareholder Assets 1.6 Free surplus generated from operations Rm (unless otherwise stated) H1 2022 H1 2021 Change FY
Slide 57: Group solvency position; segment KPIs
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 1. Key Metrics 2. Segment key performance indicators 1.7 Group Solvency Position 2.1 Key performance indicators – Segmental view H1 2022 H1 2022 H1 2022 Old Mu
Slide 58: Segment KPIs H1 2021 and FY 2021
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 2. Segment key performance indicators 2. Segment key performance indicators 2.1 Key performance indicators – Segmental view H1 2021 2.1 Key performance indicat
Slide 59: Personal Finance and Wealth Management; Old Mutual Investments
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 2. Segment key performance indicators 2. Segment key performance indicators 2.2 Personal Finance and Wealth Management 2.3 Old Mutual Investments 2.2.1 Results
Slide 60: Old Mutual Investments AUM; Rest of Africa
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 2. Segment key performance indicators 2. Segment key performance indicators 2.3 Old Mutual Investments 2.4 Rest of Africa 2.3.4 Assets under management (AUM) 2
Slide 61: Sources of earnings
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 3. Other disclosures and reconciliations 3. Other disclosures and reconciliations 3.1 Sources of earnings 3.1 Sources of earnings H1 2022 H1 2021 FY 2021 South
Slide 62: Sources of earnings by line of business
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 3. Other disclosures and reconciliations 3. Other disclosures and reconciliations 3.1 Sources of earnings by line of business and segment 3.1 Sources of earnin
Slide 63: IFRS NAV to eligible own funds; Group equity value
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 3. Other disclosures and reconciliations 3. Other disclosures and reconciliations 3.2 IFRS NAV to Group eligible own funds 3.5 Group equity value % change H1 2
Slide 64: Economic statistics; components of embedded value
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 3. Other disclosures and reconciliations 4. Embedded value 3.6 Economic Statistics 4.1 Components of embedded value H1 2022 H1 2021 Change FY 2021 Rm H1 2022 H
Slide 65: Analysis of change in embedded value; new business value
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 4. Embedded value 4. Embedded value 4.2 Analysis of change in embedded value 4.3 New business value H1 2021 4.3.1 Drivers of new business profitability Free Re
Slide 66: New business value; experience variances
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 4. Embedded value 4. Embedded value 4.3 New business value 4.4 Experience variances H1 2022 H1 2021 FY 2021 4.3.2 Value of new business and new business profit
Slide 67: Economic variances; embedded value sensitivities
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 4. Embedded value 4. Embedded value 4.6 Economic variances 4.8 Embedded value sensitivities For each sensitivity illustrated, all other assumptions have been l
Slide 68: Embedded value methodology and assumptions
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 4. Embedded value 4. Embedded value 4.9 Embedded value methodology and assumptions 4.9 Embedded value methodology and assumptions 4.9.1 Methodology 4.9.1.1 Eco
Slide 69: Embedded value assumptions; glossary
RESULTS PRESENTATION RESULTS COMMENTARY SEGMENT REVIEWS UNAUDITED CONDENSED ADDITIONAL DISCLOSURES CONSOLIDATED INTERIM FINANCIAL STATEMENTS 4. Embedded value 5. Glossary 4.9 Embedded value methodology and assumptions Defined Term Description Residual plc Holding company subsidiaries that formed par
Slide 70: Administration
Administration Registered name: Old Mutual Limited Country of incorporation: South Africa Registration number: 2017/235138/06 Income tax reference number: 9267358233 Equity Share code (JSE, LSE, MSE and ZSE): OMU Equity Share code (NSX): OMM Debt Share code (JSE): OMLI ISIN: ZAE000255360 LEI: 213800
Slide 71: www.oldmutual.com
www.oldmutual.com