Insurer Old Mutual reported Friday that profit fell in 2013, and said it intends to proceed with an initial public offering of its minority interest in its US Asset Management business, or USAM, in 2014, subject to market conditions.

Insurer Old Mutual reported Friday that profit fell in 2013, and said it intends to proceed with an initial public offering of its minority interest in its US Asset Management business, or USAM, in 2014, subject to market conditions.