BRIEF-Insurer Old Mutual says FY profit up 18 pct

LONDON, March 1 Fri Mar 1, 2013 2:12am EST

LONDON, March 1 (Reuters) - Old Mutual PLC : * Targeting dividend cover of 2.25x ifrs aop earnings in future * IFRS AOP up 18% to £1,614 million, driven by strong performance in emerging

markets and Nedbank * Proposed final dividend of 5.25P; total dividend of 7.00P; up 2.00P or 23% * R5 billion set aside to support Africa growth plan * Confident that we will continue to deliver sustainable value * Financial groups directive (fgd) surplus of £2.0 billion * Net flows from continuing operations in US Asset Management of £0.9 billion

versus outflow of £3 billion 2011