Old Mutual Share Price JSE:OMU Breaks Resistance as Leadership Changes, Insider Buying and Strategy Align
Old Mutual is steadily regaining investor confidence as improved financial performance, leadership renewal, and targeted partnerships...
Quick overview
- Old Mutual is regaining investor confidence due to improved financial performance and leadership changes.
- The company's share price has shown positive momentum, breaking through resistance levels and signaling a shift in market sentiment.
- Significant insider buying by CEO Johann Jurie Strydom reflects strong confidence in Old Mutual's strategic direction.
- A new partnership in healthcare insurance expands Old Mutual's footprint in Africa, enhancing its growth prospects.
Old Mutual is steadily regaining investor confidence as improved financial performance, leadership renewal, and targeted partnerships reshape its long-term growth narrative.
Market Performance Signals a Shift in Sentiment
After several years of subdued performance following the 2020 pandemic-driven selloff, Old Mutual (JSE: OMU) has begun to reassert itself in the market. The share price has been forming a series of higher lows since April, suggesting buyers are gradually regaining control. This improving structure reflects a broader shift in sentiment among both institutional and retail investors.
Earlier this month, the stock pushed through a long-standing resistance zone near R14.50, a level that had capped advances for much of the past year. On Tuesday, shares rose nearly 4%, extending the monthly gain to more than 7% and closing at R14.64. The breakout above key moving averages on the monthly chart has reinforced expectations that Old Mutual could target its 2021 highs around R15.50, with a longer-term objective of reclaiming levels above R20 last seen in 2020.
Insider Buying Strengthens the Bullish Case
Confidence in the company’s outlook was further underlined by a significant insider transaction. Chief Executive Officer Johann Jurie Strydom acquired 14.1 million ordinary shares at a total value of R192.07 million, according to a regulatory filing released on Tuesday.
The purchase was executed on November 24 through an escrow agent as part of the CEO outperformance plan announced earlier in November. Shares were bought at a volume-weighted average price of R13.61, with transactions ranging between R13.20 and R14.01. Such a substantial commitment from the CEO has been interpreted by investors as a strong vote of confidence in Old Mutual’s strategic direction.
Leadership Appointments Reinforce Execution Focus
Leadership changes across the group are reinforcing the company’s renewed focus on execution and value creation. In Namibia, Old Mutual announced the appointment of Ingah Ekandjo as Managing Director of its Retail Mass Business, effective January 2, 2026.
Ekandjo brings more than 19 years of financial services experience across insurance and banking, including 16 years at executive level. Her background spans retail mass, emerging, and affluent market segments, with a strong track record in turnaround strategies, earnings growth, innovation, and regulatory compliance. Her appointment strengthens Old Mutual’s leadership depth in a key regional growth market.
Strategic Healthcare Partnership Expands African Footprint
A notable strategic development has been Old Mutual’s expansion in international healthcare insurance. AXA Global Healthcare has partnered with Old Mutual General Insurance Kenya and Executive Healthcare Solutions (EHS) to broaden access to international private medical insurance (IPMI) across Africa.
Under the agreement, AXA’s Kenyan IPMI policies are now underwritten locally by Old Mutual, combining global healthcare standards with regional expertise. The partnership also includes the transfer of EHS’s existing IPMI portfolio and the launch of the Global Executive Health Plan, targeting individuals and SMEs across major African markets. AXA has positioned the initiative as a step toward becoming the leading IPMI provider in East Africa, further strengthening Old Mutual’s presence in a fast-growing healthcare segment.
Group Leadership Transition Signals Strategic Reset
Old Mutual’s renewed momentum is closely tied to its leadership overhaul. Jurie Strydom officially assumed the role of Group CEO on June 1, 2025, ushering in a more performance-driven approach centered on cash generation and return on equity.
Supporting this shift, Prabashini Moodley was appointed CEO of the newly created Life and Savings division, where she is tasked with driving modernization and leveraging fintech solutions to improve accessibility and efficiency. Meanwhile, Soul Abraham has been named CEO-designate of Old Mutual Insure, with his formal appointment expected in April 2026, pending regulatory approval. Together, these changes signal a coordinated effort to align leadership with long-term value creation.
Strong Interim Results Support the Investment Narrative
Old Mutual’s interim results provided further validation of the improving outlook. Adjusted headline earnings rose 29% to R4.2 billion, while return on net asset value reached 15.5%, meeting internal targets. Results from operations increased 16%, and shareholder investment returns surged 88%.
Although group equity value declined to R18.40 per share due to valuation methodology changes, capital allocation remained shareholder-friendly. The interim dividend was raised 9% year-on-year to 37 cents, and a R3 billion share buyback authorization was approved, signaling confidence in future cash generation.
Operationally, life APE sales rose 1%, supported by strong performance in Africa Regions, while gross written premiums increased 5%, driven primarily by Old Mutual Insure.
Banking Ambitions Add a New Growth Lever
Old Mutual’s entry into banking through OM Bank represents a meaningful strategic expansion. Initially launched for staff, the bank aims to leverage R1.5 billion in deposits and scale R15.5 billion in lending, supported by Old Mutual’s extensive 346-branch distribution network. This move aligns closely with management’s fintech-forward strategy and could unlock additional growth avenues over time.
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