A Sky News report revealed the company had received a multi-billion pound offer for its wealth management division.
Old Mutual is said to be working on a plan to separate the company into individual firms; Nedbank, a large South African lender, its wealth unit which includes IFA network Intrinsic, its emerging markets operation in South Africa, and its institutional asset management business.
A spokesperson from Old Mutual said: “When our new chief executive Bruce Hemphill joined on 1 November 2015, we announced that we would be conducting a strategic review.
“We can confirm that all options for the strategic review are being considered but no decision has yet been made.”
Old Mutual will provide an update on the strategic review of the company when it announces its preliminary results for 2015 on Friday.