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Old Mutual Insurance
Old Mutual is quite simply the granddaddy of them all when it comes to
financial services in South Africa. It is one of the oldest, possibly one of the
most well entrenched and almost certainly the largest provider of financial
services in this country. It is an exceptionally strong and sound company, on
all fronts - brand, marketing, financial standing, business fundamentals and
reputation. Of course in this post Enron world, this is no guarantee of
anything, but it does mean that you can more safely put your nest eggs in their
basket than in that of many other insurance companies. It has two other giant
company stable mates in Nedbank and Mutual & Federal, to further add to its
solid positioning.
Old Mutual Insurance is active in short-term insurance, medical cover
and risk cover for individuals, short term insurance for businesses, and
structured insurance and group life assurance for corporates.
The products for individuals are contained in the Allsure Insurance solution.
Allsure covers buildings and household goods; motor vehicles and motorcycles;
trailers, caravans and pleasure craft; personal accidents and extended personal
liability; personal computers; legal costs; bereavement; and all risks. There
are a number of different extra benefits, among them discount premiums and no
excess for retirees, reduced premiums for voluntary increased excess, discounts
for improved security measures, and value-added services, like security and
roadside assistance, lost card protection and emergency medical services.
For businesses, there is general short-term insurance, such as cover for
machinery and buildings, and third-party cover, which is taken care of by Mutual
and Federal on behalf of Old Mutual. There is also insurance available for key
people in the business.
Corporate insurance comes in the form of retirement funding and
administration, medical scheme administration and group life insurance, as part
of their employee benefits package.
Related Insurance Articles:
- Fedhealth Medical Aid
- Discovery Health Medical Aid
- Dial Direct Insurance
- OUTsurance Insurance
- PPS Insurance
- ABSA Insurance
- U-Insure Insurance
- Standard Insurance
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