Hamilton, Bermuda
Old Mutual Bermuda (OMB) achieved two significant sales milestones during the month of May. The group recorded their highest premium sales for a single day and their best sales month on-record with monthly premium in excess of $100 million. OMB now has approximately $1.8 billion of assets under management.
The two sales achievements follow closely on the heels of recent milestones including the reported sales in excess of $400 million at year-end 2004 and $1 billion of assets under management milestone in June 2005.
Purchased in April 2003 by Old Mutual plc, the OMB sales channel compliments Old Mutual's existing dollar-based product lines and distribution systems.
Al Harrington, CEO, commented, "Our strategy of partnering with worldwide financial institutions, focusing on international distribution and building successful product designs with our greater Old Mutual Financial Network team has proven beneficial to the Old Mutual group."
OMB offers its customers a range of investment products. Under its open architecture approach, customers can participate in investment options offered by some of the world's leading investment houses in addition to options managed by Old Mutual affiliates. OMB products do not constitute an offer or solicitation to anyone in any jurisdiction in which an offer is not authorized, nor to any persons to whom it is unlawful to make such an offer or solicitation.
About Old Mutual (Bermuda) Ltd.
Headquartered in Bermuda, the company develops and markets both insurance and investment plans to non-U.S. residents, non-U.S. citizens and non-residents of Bermuda through financial institutions in a variety of markets around the world. The plans are written directly by Old Mutual Bermuda (www.ombermuda.com) and offer the investor varied investment options and strategies while providing death and other benefit guarantees. Since joining the Old Mutual group in April 2003, Old Mutual Bermuda has produced outstanding sales results and filled yet another niche in the group's international distribution strategy.
About Old Mutual plc
Founded in 1845, Old Mutual plc maintains its primary listing on the London Stock Exchange (LSE:OML), ranks as one of the world's largest insurers, is a Fortune Global 500 company and a FTSE 100 financial services group.
CONTACT: Old Mutual Bermuda (OMB) Siobhan McNulty 410-895-0118
CONTACT: Old Mutual Bermuda (OMB) Siobhan McNulty 410-895-0118 , ,
Source: Business Wire (Business Wire India)