Insurer Old Mutual is marching ever closer to its intended goal of splitting the company into four units by the end of next year after it reported today that its first-half profit almost doubled.
The 150-year-old company is splitting its business to help boost value for investors.
In preparation for the big move, the company reported that its pre-tax adjusted operating profit rose 37% for the interim period while it has also slashed its debt.
Amid Brexit in the UK and political turmoil in South Africa, the seasoned insurer is setting its future sights on emerging markets. Its impending split is an adaptive play that could see its name continue to exist for another 150 years.