Old Mutual Steps Up Reset Plan as It Names Jardine Chairman

Old Mutual Group Ltd. is doubling down on a strategic reset started last year to sustain market-share gains as Africa’s largest insurer by assets seeks to boost earnings growth for the next three years.

The company, which was founded in 1845 in Cape Town, has struggled with client retention in South Africa amid increased competition on products such as credit insurance and funeral plans from new fintech entrants and from more established lenders including Capitec Bank Holdings Ltd.