You can also listen to this podcast on iono.fm here. ADVERTISEMENT CONTINUE READING BELOW JIMMY MOYAHA: Old Mutual Limited reported full-year results for the financial year ended 31 December 2023. I’m joined on the line by the company’s chief financial officer, Casper Troskie, to take a look at these numbers and try to make sense of old Mutual’s performance.
JIMMY MOYAHA: Casper, the operating environment for some of the businesses was rather challenging. If we look at things like the insurance business, there were a lot more natural disasters that we saw in the last 12, maybe 18 months than we’ve seen in quite some time.
JIMMY MOYAHA: Casper, can we look at the asset management or the wealth management business? We saw net outflows there to the tune of some R7.5 billion, but that is an improvement from the prior year. Obviously clients are still having to make different kinds of investment decisions and savings decisions with the economic environment that we find ourselves in at the moment. But the business is still experiencing good inflows there.
JIMMY MOYAHA: Casper, can we look forward to 2024 for a second? How’s the business assessing the landscape or the operating environment that is 2024? Is there any particular risk you guys are flagging? I know in 2023 there was a concerted effort to return value to shareholders, and that’s come from as far back as 2018. Just last year it was I think to the tune of R1.5 billion in share buybacks that went through.
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