Old Mutual is preparing its expansion to the African continent

The insurer Old Mutual has allocated 560 million USD to develop its activities in Sub-Saharan Africa over the next three to five years. In February 2013, Old Mutual has completed the acquisition of Oceanic Life Insurance in Nigeria.

The company expects, in the medium term, to achieve other acquisitions in West and East Africa. SORAS, a Rwandan insurer, is listed among future targets. The Anglo-South African group, dealing in insurance and finance, posted an operational result of 2.43 billion USD for the year 2012.