Old Mutual sees positive start to 2006, bolstered by Skandia acquisition
Total sales at life insurance group Old Mutual grew by 11% to GBP395 million in Q1, the firm said in a trading statement.
Old Mutual says that it continues to deliver strong growth across a substantially expanded international footprint following the acquisition of Skandia, with particularly strong sales of unit trust/ mutual fund and asset management products, and good net cash inflows from clients. Positive equity markets in all markets and the increase in sales have both contributed to the 8% growth in funds under management in the quarter to GBP248 billion.
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