Old Mutual PLC (OML.L)
28 Apr 2017
LONDON, April 28 Anglo-South African financial services group Old Mutual is selling its 26 percent stake in an Indian insurance joint venture for 156 million pounds ($201.75 million), as part of the group's planned break-up into four parts.
April 28 Financial services group Old Mutual Plc's UK asset management business reported its higher ever quarter for client inflows and funds under management for the first three months of the year, citing increased demand for its services and platform.
* Funds under management (FUM) for old mutual wealth Q1 at 122.3 billion stg versus 115.3 billion stg year ago
April 28 Britain's Old Mutual Plc said it would sell its 26 percent stake in Kotak Mahindra Old Mutual Life Insurance Ltd to Kotak Mahindra Bank Ltd for about 12.93 billion rupees ($201.7 million)
(The following statement was released by the rating agency) LONDON, April 12 (Fitch) Fitch Ratings has downgraded Old Mutual Plc's (Old Mutual) Long-Term Issuer Default Rating (IDR) to 'BBB' from 'BBB+'. Fitch simultaneously affirmed Old Mutual Wealth Life Assurance Company Limited's (OMWL) Insurer Financial Strength Rating (IFS) at 'A'. The Outlooks are Stable. Fitch has also downgraded the IFS Rating of Mutual & Federal Insurance Company Limited (M&F) to 'BB+' from 'BBB-'. The Outlook is Stabl
(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Fitch Downgrades Five South African Banks Following Sovereign Downgrade https://www.fitchratings.com/site/re/896845 LONDON, April 11 (Fitch) Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of five South African banks to 'BB+' from 'BBB-'. The banks affected are Absa Bank Limited, FirstRand Bank Limited (FRB), Investec Bank Limited (IBL), Nedbank Limited (Nedbank) and Standard Bank
HONG KONG/LONDON, April 6 Old Mutual has put up for sale its 50 percent stake in a Chinese insurance joint venture, people with direct knowledge of the matter said, as part of a revamp of the Anglo-South African financial group and amid a tough market for foreign insurers in China.
* Peter Moyo, independent chairman will retire and step down from board at AGM to be held on July 18
* Old Mutual appoints Peter Moyo as new chief executive of Old Mutual emerging markets
HONG KONG (Reuters Breakingviews) - HNA Group's empire-building puts it on a risky trajectory. The Chinese travel outfit has spent tens of billions of dollars abroad on everything from land and hotels to high finance. These are just opening gambits as HNA seeks to amass trillions of dollars in assets.