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Securing Your Future
Old Mutual Nigeria provides financial solutions that are designed to help our customers achieve their long term goals and create a positive future for them, their families and their businesses. Old Mutual Nigeria is made up of Old Mutual Nigeria Life Assurance Company Limited and Old Mutual General Insurance Company Nigeria Limited.
Our Promise and Values
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ABOUT OLD MUTUAL GROUP
Our Group was established in Cape Town in 1845 as South Africa’s first mutual life insurance company, offering financial security in uncertain times. Our purpose is to help our customers thrive by enabling them to achieve their lifetime financial goals, while investing their funds in ways that will create a positive future for them, their families, their communities and broader society. In this way, we significantly contribute to improving the lives of our customers and their communities while ensuring a sustainable future for our business. We now employ more than 30 000 people and operate in 14 countries across two regions: Africa (South Africa, Namibia, Botswana, Zimbabwe, Kenya, Malawi, Tanzania, Nigeria, Ghana, Uganda, Rwanda, South Sudan and eSwatini) Asia (China) What we do We provide financial solutions to individuals, small and medium-sized businesses, corporates and institutions across several market segments and geographies in South Africa, the Rest of Africa and certain other emerging markets. Savings and protection Innovative life assurance based product solutions, addressing both protection and savings needs, as well as short term insurance solutions through Old Mutual Insure. Investment We grow our customers’ savings and wealth through active and direct asset management with the Old Mutual Investment Group. We also select funds for customers to invest in through multi-managers. Lending Old Mutual offers personal loans and debt consolidation loans tailored to the individual needs of our customers. All loan products are provided through Old Mutual Finance, a licensed financial services and registered credit provider. Our Vision and strategy To be our customers’ most trusted lifetime partner, passionate about helping them achieve their financial goals. Our strategy In responding to our customers’ needs, we are building a long-term savings, protection, investment and lending group by leveraging the strength of our people and capabilities in South Africa and around the world. We will focus, drive and optimise our businesses to enhance value for customers, shareholders and the communities we serve. Our strategic priorities Defend SA market share in Mass and Corporate markets. Defend and grow in the SA Personal Finance market. Improve the competitiveness of Wealth and Investments. Turnaround of Old Mutual Insure. Turnaround the East African business and improve returns across Rest of Africa Win the war for talent. Refresh the technology offering. Cost efficiency leadership Global Website
ABOUT OLD MUTUAL NIGERIA
Old Mutual in Nigeria, comprising a Life Assurance and General Insurance business, is a subsidiary of Old Mutual Limited, a premium African financial services group that offers life protection, general insurance, savings, investments and lending services to 11.3 million customers in 13 countries across Africa and China. Old Mutual has been operating in Nigeria since March 2013, having acquired the majority stake in Oceanic Life Assurance Company. In January 2014, Old Mutual also acquired a majority stake in Oceanic General Insurance Limited, thereby offering both Life and General Insurance solutions tailored to meet unique individual and corporate client’s circumstances. We provide a wide range of General and Life Insurance solutions designed to give value and peace of mind to our customers. We also aim to deepen the financial knowledge of Nigerians by providing free Financial Education workshops to organisations, associations and groups. VISION/MISSION STATEMENT Our Purpose: Championing mutually positive futures Everyday. Our Vision: To be our customers' most trusted lifetime partner, passionate about helping them achieve their financial goals. Our Promise: We champion individuals and businesses to be their exceptional best. OUR VALUES Always act with integrity. Respect for each other and communities we serve. Agile innovation that makes a difference. Trust and accountability. Champion the customer. The power of diversity and inclusion. We use our values to guide business dealings with each other, our customers, communities and other stakeholders in line with our purpose and strategy. WHAT OUR CUSTOMERS SAY ABOUT US “The lady that was assigned to me – Tobi – has been more than good. She responds to my complaints at any time of the day and she is the reason why I took another policy.” Innocent Yakubu, RMM Customer “The customer service representative was very accommodating and she rendered all the help I needed within the period I held my policy with Old Mutual. I enjoyed proper customer service that I barely had any issues regarding the policy; and when I did, it was resolved with just a phone call. I even considered increasing my premium after I had started the policy.” – Menaghawon Uwoghiren, RMM Customer “The service is commendable. The representatives are patient with clients; they have an amiable personality and it's generally a great atmosphere. There is a willingness to help by all staff members. Thank you Old Mutual.” – Joan Joshua, RMM Customer “Your front desk staff at Ecobank Head Office 2nd floor is cheerful and knowledgeable. I got back my 3 months premiums on my Term Policy without asking as I did not even remember. You are doing great.” – Akintayo Yusuff, RMM Customer OUR FIVE PILLARS OF RESPONSIBLE BUSINESS We have identified five pillars of Responsible Business and embedded these pillars in our organization. RESPONSIBLE TO OUR CUSTOMERS We put our customers first in everything we do and become our customers’ most trusted partner. We improve the financial wellbeing of our current and potential customers through financial education. RESPONSIBLE TO OUR COMMUNITIES We provide sustainable and meaningful support to the communities in which we operate through both monetary contributions and by volunteering our skills and expertise. RESPONSIBLE INVESTMENT We embed our investment approach, which considers Environmental, Social & Governance (ESG) factors in our investment decision-making and ownership practices. RESPONSIBLE TO OUR EMPLOYEES We build a culture of excellence and an organisation people are proud to work for. We continuously develop our employees. RESPONSIBLE TO OUR ENVIRONMENT We monitor, manage and reduce our direct and indirect environmental impacts. This includes improving the efficiency of the buildings where we operate.
Chief Executive Officer
Old Mutual West Africa
Samuel Ogbu Chief Executive Officer Old Mutual West Africa
Mr. Donald Samuel Ogbu is the Group Chief Executive Officer of Old Mutual West Africa, a position he assumed in November 2018. In this position he oversees Old Mutual’s West African Businesses in both Nigeria and Ghana. Before taking up his current role, Samuel, was the Group Executive, West Africa of Liberty Holdings, a position he moved into following his role as the Chief Executive Officer of Liberty Properties. Prior to joining the Liberty Group, Samuel was the General Manager of Old Mutual’s Large Corporate Business at Old Mutual South Africa. Before that, he held senior executive directorships at Sage Life, South Africa and Africa Media Group.
Samuel has over thirty (30) years of professional experience with the last fifteen (15) years spent in various general management roles within the insurance industry in South Africa and Nigeria. He has extensive experience in a variety of other sectors in sub-Saharan African countries.
Samuel is a past President of the South African Property Owners Association (SAPOA), the foremost real estate industry organization in Africa; for several years, Samuel played a pivotal role in promoting investor interest in the African Commercial Real Estate sector.
Samuel has a bachelor’s degree from South Bank University. He is a Chartered Accountant and Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW) having trained with Price Waterhouse in London. He holds an MBA from Wits Business School, Johannesburg. He is a senior member of the Chartered Insurance Institute of Nigeria (CIIN) and a member of the Institute of Directors. He has held directorships of several listed and unlisted companies in the United Kingdom, South Africa and other parts of Africa.
Managing Director, Life Assurance
Olusegun Omosehin Managing Director, Life Assurance
Segun Omosehin as Managing Director of Old Mutual Nigeria Life Assurance Co. (OMNiLAC). Segun holds a BSc. in Political Science, a Master’s in International Law & Diplomacy and Master’s in Economics from the University of Lagos. He is an alumnus of the Lagos Business School and Said Business School, University of Oxford in the UK.
Prior to his appointment he was Managing Director/Chief Executive Officer of Mutual Benefits Assurance Plc.
Before joining the Mutual Benefits Assurance team in April 2010, Mr. Omosehin was the Managing Director/CEO of AIICO General Insurance Company Limited, the general insurance arm of AIICO Insurance Plc. He was also the MD/CEO of Admiral Insurance Company Limited between 2003 and 2007 before merging the company with Crusader Insurance Plc during the insurance consolidation exercise in 2007; a company where he started his insurance career in 1993.
He was a member of the pioneer team that started and nurtured Custodian & Allied insurance Plc in 1995, where he worked for about nine years before his appointment as the MD/CEO of Admiral Insurance Limited in 2003. He Started his career with Crusader Insurance (Nigeria) Plc in 1993 (then a specialist life assurance company)
Mr. Omosehin holds a Bachelor of Science degree in Political Science; a Master’s degree in International Law and Diplomacy (MILD); and also an M.Sc in Economics from the University of Lagos. He is equally an Alumnus of the Lagos Business School (LBS) now Pan African University; as well as Said Business School, University of Oxford, UK.
He is a Fellow of the Chartered Insurance Institute of Nigeria; a Fellow of the Institute of Directors (FIoD); a Member of the Nigerian Institute of Management; and the Nigerian Society of International Law.
His hobbies include Networking, Swimming and Golfing. He is a member of Ikoyi Club 1938 –Golf Section, and Ikeja Golf Club. He is married to Modupe and blessed with three children.
Olalekan A Oyinlade
Managing Director, General Insurance
Olalekan A Oyinlade Managing Director, General Insurance
Lekan is a graduate of University of Lagos. He started his professional career with Sovereign Trust Insurance Plc where he acquired considerable experience in General Business Underwriting and Reinsurance Operations. He joined AXA Mansard Insurance Plc in February 2004 and left in 2017 as Chief Underwriting Officer with additional responsibility for the company’s distribution activities in the Public & Infrastructure Sectors and management of the Life and Savings Portfolio.
His last role was Executive Director, Operations of Veritas Kapital Assurance Plc where he was responsible for overall Business Development and Technical Operations of the company. With over 22 years cognate experience in various insurance roles including Chief Underwriter, Reinsurance Manager, etc. Olalekan specializes in direct and treaty Reinsurance, Underwriting, Commercial claims handling, extensive Client and Brokers relationship management.
He is an Associate of the Chartered Insurance Institute of Nigeria (ACIIN) and Council of Registered Insurance Brokers of Nigeria (ACIB) as well as member of Chartered Insurance Institute of London (CII). He has attended several technical courses including Engineering & Special Risk courses organized by Africa Re, Oil & Energy Seminar organized by Munich Re and Energy Underwriting Seminar by HSBC, London.
He has also attended development programs at leading institutions including the Finance for Non-Finance Executives, IMD Switzerland and the Senior Management Program, Lagos Business School. He is a prolific lecturer in the area of risk management with special bias for Reinsurance and Alternative Risk Transfer Mechanisms.
Executive Director Technical Life Assurance
Wasiu Amao Executive Director Technical Life Assurance
Wasiu joined Old Mutual in November 2017. Before joining Old Mutual, he was The Head of Technical for Life Operations at Heirs Insurance Limited. He has held various positions in the Nigerian Insurance Industry; these include Head of Technical for UNIC Insurance Plc, Head of Operations in FBN Insurance Limited, Metropolitan Momentum, and Head of Life of Linkage Assurance Plc. He served in various capacities in Great Nigeria Insurance Plc where he started his Insurance Career. He is a Life Examiner with West Africa Insurance Institute (Gambia) and a seasoned Facilitator with The Chartered Insurance Institute of Nigeria.
Mr Amao, an indigene of Oyo State, was born and raised in Lagos. He has a first degree in Actuarial Science from The University of Lagos and a Master of Business Administration in Financial Management from the Lagos State University, both in Lagos, Nigeria. He is also an Associate Member of The Chartered Insurance Institute of Nigeria.