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Anglo-South African financial services group, Old Mutual plans to split into four main businesses.
The company has blamed the possible changes to the regulatory environment in Europe and South Africa that have made the company more complex to run.
The highly anticipated announcement was made as the group reported a 4% rise in annual pre-tax profits to just over $2.4 billion dollars.
The company is represented in 13 countries in Africa including Ghana, Nigeria, the Democratic Republic of Congo, South Sudan, Kenya, Uganda, Tanzania, Rwanda, Malawi, Zimbabwe, Botswana, Namibia and South Africa.
In a lot of central and East Africa, Old Mutual’s presence follows a recent acquisition of insurance firm UAP holdings.
