Old Mutual Limited (OMU) Earnings Call Transcripts

Old Mutual Limited's Latest Earnings Call - June 8, 2026

In the Q1 2026 earnings call for Old Mutual Limited, management reported a solid operational performance with revenue growth driven by a 28% increase in fees, though normalized growth was 13%. The company completed a ZAR 3 billion share buyback, enhancing shareholder returns, while maintaining a strong solvency ratio of 186%. Management signaled a cautious outlook on persistency due to market pressures but remains committed to cost-saving initiatives, projecting ZAR 1 billion in expense reductions for the year.

Reported metrics

Guidance from management

Management maintained their guidance for ZAR 1 billion in expense savings for 2026, with expectations for improved persistency metrics over time, despite current pressures.

What management said

Thank you, [ Tanner ], and welcome, and good afternoon to everyone. Thank you for joining us for the Q1 voluntary updates as introduced. Effectively, this also sets as our pre-close call as we'll be moving to our close period at the beginning of July. On call today is our group CEO, Jurie Strydom, who will lead the discussion on the call with you today. He is joined by Casparus Troskie, the Group CFO; as well as Rane...

Thanks, Jurie with a brief overview. [ Tanner ], if you may just remind the participants on the procedure to put through the questions. And I would just flag that we will take two questions per person. If you may just briefly introduce yourself and move straight to the two questions. With the preference of putting their questions through on the live call, is this more efficient for us to attend the question that way....

What analysts pressed on

Analysts expressed concerns regarding persistency trends, questioning the impact of economic pressures on customer retention. There were also inquiries about the potential effects of recent weather-related claims on underwriting performance.

Main topics on the call

• Revenue Growth — Old Mutual reported a 28% increase in fees for Q1, with normalized growth at 13%. Management stated, "that's strong growth," indicating confidence in the sales trajectory.
• Share Buyback Completion — The company completed a ZAR 3 billion share buyback, which was noted as a positive capital allocation decision. Management emphasized their commitment to returning capital to shareholders.
• Persistency Concerns — Management acknowledged ongoing challenges with persistency, stating, "we are still seeing persistency be worse than what we had hoped for." This highlights potential risks in customer retention amid economic pressures.
• Cost-Saving Initiatives — Management is targeting ZAR 1 billion in expense savings for 2026, with visible traction expected in operational areas. They indicated these savings would primarily come through in 2027.

Read the full Old Mutual Limited transcript (June 8, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 26 Old Mutual Limited earnings call transcripts on record, spanning March 16, 2020 to June 8, 2026. Based on this history, Old Mutual Limited reports quarterly. The most recent call on file is dated June 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

OMU

Exchange

JSE

Country

ZA

Sector

Financials

Industry

Insurance

Calls on record

26

First call

March 16, 2020

Most recent

June 8, 2026

Reporting cadence

quarterly