South African insurer Old Mutual reported a 30 per cent increase in 2005 operating profit.
The London-based group said on Monday adjusted operating profit rose to £1.244 billion ($2.2 billion) from £954 million in 2004.
Adjusted operating earnings per share were up 22 per cent to 18.2 pence, compared with 14.9p in 2004.
The profits came on the back of strong investment sales in South Africa and an earnings recovery at its Nedbank banking unit
Buoyant equity markets in South Africa drove strong demand for investment products, which helped push unit trust sales there up 87 per cent in 2005, Old Mutual said.
The company is recommending a final dividend of 3.65p, bringing the total payout for the year to 5.5p, an increase of 5 per cent.
Old Mutual said its US life operations registered strong sales in the first three quarters, particularly of equity index-linked annuities.