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10 Things you should know about Old Mutual Limited
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Old Mutual Limited is a brand founded by John Fairbairn. Here are 10 Things you should know about Old Mutual Limited.
- Old Mutual Limited is a pan-African investment, savings, insurance, and banking group.
- It is listed on the Johannesburg Stock Exchange, Zimbabwe, Namibia and Botswana Stock Exchanges.
- The company was founded 1845 as a mutual insurance company by John Fairbairn.
- The original name The Mutual Life Assurance Society of the Cape of Good Hope was changed to The South Africa Mutual Life Assurance Society in 1885.
- In 1939, the Old Mutual art deco office opened in Darling Street as the Mutual Building which has since been converted to residential use and known as “Mutual Heights”.
- In 1956, Old Mutual relocated its head office to Mutualpark in Pinelands which was the largest office block in the southern hemisphere at the time.
- In 1970, Old Mutual acquired a major shareholding in the newly formed Mutual & Federal, and later acquiring the remaining shares in 2009.
- Mutual & Federal was renamed as Old Mutual Insure on 5 June 2017, and is now a part of the Old Mutual Emerging Markets business.
- In 1973, Old Mutual acquired shareholdings in Nedcor Bank (renamed the Nedbank Group in 2005).
- In 1997 and 1998, the company acquired UK stockbrokers Capel-Cure Myers and Albert E. Sharp respectively which then merged to form Capel-Cure Sharp.