Old Mutual | ESG analysis | Target disclosure required
We commend Old Mutual for well considered ESG policies. We believe improvements are required in the disclosure of remuneration targets with explicit consideration for the translation impact on Old Mutual Zimbabwe. We raise concern regarding non-executive directors with extensive external responsibilities. We believe the board's focus should be on reducing organisational complexity and matching the skills of committee and sub-committee members with the future direction of Old Mutual and the insurance industry. Please find our ESG analysis and 2019 AGM voting recommendations for Old Mutual Limited in this note.Old Mutual Limited is a financial service company, which is focused on providing financial solutions to individuals, businesses, corporations and institutions across 17 countries and three regions Africa and Asia. Its business includes Old Mutual Personal Finance offers wealth creation and protection products, as well as asset management, in the middle-income market; Old Mutual Mass & Foundation Cluster offers savings and protection products to customers in the lower-income and foundation market; Old Mutual Corporate provides investment, insurance and consultancy services to retirement funds and companies of all sizes; Old Mutual Wealth & Investments Cluster offers clients access to an array of investment offerings, styles and asset classes; Old Mutual Insure that provides short-term insurance services to personal, commercial and corporate customers, and Old Mutual Africa offers life and savings, property and casualty, asset management and banking services.
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