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Old Mutual Holdings Plc, Formally known as UAP Holdings Limited, is an investment, retirement, and insurance group that operates mainly in Eastern Africa.UAP Holdings is one of the leading insurance and financial services groups in eastern Africa with a network of branches and operational subsidiaries spread across the greater eastern and central Africa regions.
In 2014 Old Mutual acquired a controlling 67 percent interest in Faulu Kenya, the second-largest microfinance bank in Kenya, whose stock is privately held, for a sum of KSh3.6 billion (approx. US$40 million). [4] [5] In early 2015, Old Mutual, spent a total of US$253.1 million (KSh 23.1 billion) to acquire 60.66 percent shareholding in UAP ...
The same year HSBC backed away from its plan to acquire 70% of Nedbank, including Old Mutual's 53% share. [13] In 2011, Old Mutual sold US Life to Harbinger Group Inc. for $350 million. [14] Old Mutual sold its Nordic operations to Skandia Liv for £2.1 billion in 2012. [15] In 2013, Old Mutual strengthened operations in Africa with the ...
The listings will see shareholders receive one share in new UK wealth management company Quilter and three in Old Mutual Limited for every three Old Mutual shares currently held. Old Mutual has ...
In 1986, Old Mutual became the major shareholder (53%) of Nedbank. [4] In 1992, Syfrets, UAL Merchant Bank, and Nedbank Investment Bank Division merged to become Nedcor Investment Bank (NIB). Old Mutual, Nedcor's holding company, was demutualised and listed on the London Stock Exchange in 1999. [5]
The bank has grown from one MFI office in 1991 to over 90 service outlets which include 27 banking branches in seven of the eight provinces in Kenya by end of 2011. [2] In April 2014, Old Mutual completed its acquisition of 67% of Faulu Kenya [3] through a KSH 2 billion capital injection. [3]
UAP Old Mutual Tower is a 33-storey office complex in the Upper Hill neighbourhood of Nairobi, the capital and largest city in Kenya. It became the tallest structure in Kenya upon its completion in 2015, surpassing Times Tower which had held that record for 15 years.
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