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Prospects

The difficult economic environment is expected to continue in the current financial year. Growth in insurance new business volumes will remain largely dependent upon the economic environment, including a recovery in employment and stronger disposable income levels. All of the groups in which RMI Holdings is invested face both opportunities and threats posed by the highly regulated environment in which they operate, including evolving capital regimes as well as social security reform proposals.

Notwithstanding these challenges, RMI Holdings expects to produce good organic growth during the coming year. In particular:

  • the progress made by Discovery over the past financial year positions it strongly for continued growth and profitability in the future; while
  • MMI’s strategic focus has shifted from integration to outward looking growth initiatives with innovative strategies to unlock value; and
  • OUTsurance expects its life insurance offering to gain further traction in South Africa and it is excited about the growth prospects of Youi.