What are Mission Vision & Core Values of Old Mutual Ltd. Company?

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What are the guiding principles of this pan-African financial services group?

Mission and vision statements are the bedrock for any successful business, articulating a company's purpose and future aspirations. For a pan-African financial services group, these statements are crucial given its extensive operations across Southern, East, and West Africa, providing diverse financial solutions.

Their mission, vision, and values are not mere declarations; they are the compass guiding business decisions, shaping corporate identity, and ensuring alignment across a workforce of over 30,000 employees in 14 countries.

These guiding principles underpin the company's commitment to helping customers achieve financial goals while fostering positive societal impact, ensuring long-term sustainability and value creation. Explore their strategic position further with the Old Mutual Ltd. BCG Matrix.

The Old Mutual mission statement emphasizes a commitment to customer prosperity and societal well-being. It focuses on empowering individuals, families, and communities to achieve long-term financial security through responsible investment. This approach extends beyond traditional financial services, aiming to foster a sustainable future for all stakeholders. The company's dedication to this mission is evident in its diverse financial solutions and community initiatives.

Customer-Centric Approach

Old Mutual's mission is deeply rooted in helping customers achieve their lifetime financial goals, offering tailored solutions.

Societal Impact

The company invests funds to create a positive future for families, communities, and broader society, aligning with its Old Mutual company purpose.

Sustainable Investment

Old Mutual integrates ESG considerations into investment decisions, as seen with the 2023 launch of the Old Mutual MSCI Emerging Markets ESG Leaders Index Strategy Fund.

Broad Financial Solutions

Offerings include life assurance, property and casualty insurance, asset management, banking, and lending, addressing diverse financial needs.

Community Development

The mission supports initiatives for a 'green, strong and fair society,' including environmental protection and education.

Long-Term Prosperity

The Old Mutual mission statement emphasizes long-term prosperity for customers and sustainable impact for the business.

Old Mutual's mission is to help customers thrive by enabling them to achieve their lifetime financial goals. This includes investing funds to create a positive future for them, their families, communities, and broader society. This commitment significantly contributes to improving lives while ensuring a sustainable future for the business. For more details on how the company generates revenue, explore the Revenue Streams & Business Model of Old Mutual Ltd.

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Old Mutual's vision statement is future-oriented, aiming for market leadership by becoming customers' 'most trusted partner' in achieving their lifetime financial goals. This vision extends beyond mere transactional relationships, aspiring to a deep, reliable partnership. Its scope is primarily focused on achieving market leadership within the financial services industry across its pan-African footprint and other emerging markets.

Customer Trust

Old Mutual strives to be the most trusted partner for its customers.

Financial Goals

The company is passionate about helping customers achieve their lifetime financial goals.

Market Leadership

The vision aims for market leadership in financial services.

Pan-African Focus

Old Mutual's scope includes its pan-African footprint and other emerging markets.

Strategic Expansion

Regulatory approval for OM Bank supports long-term competitive advantage.

Strong Performance

Adjusted headline earnings per share increased by 17% in 2024.

The realism of this aspiration is supported by Old Mutual's strong financial performance in 2024, with adjusted headline earnings per share increasing by 17% and funds under management growing by 9.8% to ZAR 1.461 trillion by December 31, 2024. The company's strategic priorities, such as defending market share in various segments, improving competitiveness in wealth and investments, and enhancing its technology offering, underpin this Old Mutual vision statement. The regulatory approval for OM Bank, with plans for a full rollout by Q4 2025, further demonstrates a strategic expansion designed to position Old Mutual for long-term competitive advantage and solidify its trusted partner status. For more details on the company's structure, refer to Owners & Shareholders of Old Mutual Ltd., which provides insight into the entities driving the Old Mutual company purpose.

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Old Mutual's core values are fundamental to its operational framework, guiding employee conduct and strategic decisions. These principles ensure the company remains focused on its purpose, fostering a culture of accountability and customer-centricity. The company's values are deeply embedded in its daily operations, influencing how it interacts with customers, employees, and stakeholders.

The company's culture and operations are guided by principles that translate into specific behaviors. These include putting the customer first, aiming high and taking the team along, treating the business as if it were one's own, and listening carefully while speaking honestly. These values collectively differentiate Old Mutual from competitors by emphasizing a holistic approach to financial services that deeply integrates social responsibility, ethical conduct, and a strong culture of ownership and collaboration.

Customer First

This core value ensures that product development, such as personal loans and debt consolidation loans through Old Mutual Finance, is tailored to individual needs. It drives initiatives like the digital two-pot retirement solution, which processed over 275,000 claims in 2024, with 99% submitted via WhatsApp, demonstrating a focus on accessible and efficient service.

Aim High and Take Your Team With You

This value is reflected in performance management systems that include compulsory 360-degree feedback for leaders, linking feedback on behaviors to individual performance scores and rewards. It encourages collective ambition and growth, fostering an environment where employees are empowered to achieve challenging goals.

Treat the Business Like It's Our Own

This value emphasizes accountability and ownership, manifesting in a focus on operational efficiencies and cost management for long-term profitability. It aligns with the company's commitment to sound governance practices, informed by high ethical standards, integrity, transparency, and accountability.

Listen Carefully and Talk Honestly

This value promotes open communication and transparency within the corporate culture and with external stakeholders. It underpins Old Mutual's commitment to providing balanced views in its Integrated Report and actively seeking stakeholder input to enhance reporting quality.

These Old Mutual core values are integral to its operational success and strategic direction. To understand how these values influence the company's strategic decisions, explore the Growth Strategy of Old Mutual Ltd. in the next chapter, which delves into how mission and vision influence the company's strategic decisions.

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A company's mission and vision are foundational, shaping its strategic direction and guiding critical decisions. These statements articulate the organization's fundamental purpose and its aspirations for the future, influencing everything from product development to market expansion.

Old Mutual's Guiding Principles

Old Mutual's mission and vision are deeply integrated into its business strategy, directly informing strategic decisions and daily operations.

• The company's purpose is to help customers sustain, grow, and protect their prosperity.
• Strategic priorities for 2024-2025 include defending market share, growing in specific markets, and improving competitiveness.
• The launch of OM Bank by Q4 2025 is a strategic move aligned with becoming a trusted financial partner.
• A sharpened sustainability strategy, approved in August 2024, focuses on responsible investment and climate action.
• The company invested ZAR 179 billion in the green economy and ZAR 38.4 billion in renewable energy in 2024.

Mission Statement: Helping Customers Thrive

Old Mutual's mission is to help customers thrive by providing comprehensive financial solutions that contribute to a positive future.

Vision Statement: Trusted Financial Partner

The vision is to be a trusted partner, enabling customers to achieve their financial goals and aspirations.

Core Values: Driving Business Forward

While specific core values are not detailed here, the company's actions demonstrate a commitment to customer centricity, sustainability, and long-term growth.

Strategic Alignment: OM Bank Launch

The planned launch of OM Bank, despite anticipated initial losses of R1.1 billion to R1.3 billion, reflects a strategic commitment to expanding financial offerings and enhancing customer value.

Sustainability in Action

The company's sustainability strategy, approved in August 2024, directly supports its mission by focusing on responsible investments and climate action, as evidenced by significant investments in the green economy.

Leadership Vision

Outgoing CEO Iain Williamson highlighted the focus on building an integrated financial services business for the future, aligning with the company's core purpose and vision.

These guiding principles shape Old Mutual's strategic decisions, from market expansion to sustainability initiatives, ensuring a cohesive approach to achieving its long-term goals. Understanding the Target Market of Old Mutual Ltd. further illuminates how these principles are applied. Continue reading to explore core improvements to the company's mission and vision.

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Old Mutual's mission and vision statements are foundational to its operations, guiding its strategic direction and stakeholder engagement. Enhancements could focus on greater conciseness and explicit acknowledgment of digital innovation and sustainability leadership.

Refine Mission for Digital Empowerment

The mission could be more concise, explicitly highlighting the role of digital innovation in achieving financial empowerment. This aligns with the 22% increase in active digital users observed in 2024, reflecting a significant shift towards digital engagement.

Incorporate Sustainability Leadership in Vision

The vision statement could explicitly state a commitment to leading sustainable financial practices in Africa. This would underscore their substantial investments, such as ZAR 179 billion in the green economy in 2024, reinforcing their role as a responsible leader.

Emphasize Personalized, Data-Driven Solutions

Adapting to emerging technologies and changing consumer behaviors necessitates a mission and vision that emphasize personalized, data-driven financial solutions and seamless digital experiences.

Articulate Role in Climate Resilience and Just Transition

Given the increasing urgency of climate change, the statements could more explicitly articulate the company's role in building climate resilience and supporting a just transition in Africa, extending beyond current responsible investing practices.

Understanding the Mission, Vision & Core Values of Old Mutual Ltd. is crucial for grasping its strategic direction and commitment to its stakeholders. The company's purpose is deeply intertwined with fostering financial well-being across Africa, a goal supported by its operational focus and investments.