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Group structure

RMI Holdings
RMI Holdings is a significant investor in some of South Africa’s most prominent insurance groups.

Our interests include:
Actual interest 25%
Discovery services the healthcare funding and insurance markets in South Africa, the United Kingdom, United States, China and Singapore. It is a pre-eminent developer of integrated financial services products and operates under the Discovery Health, Discovery Life, Discovery Insure, Discovery Invest, DiscoveryCard, Vitality, PruHealth, PruProtect, Ping An and AIA Vitality brand names.
Actual interest 25%
MMI was formed from the merger of Momentum and Metropolitan, both sizeable insurance-based financial services players in South Africa. The core businesses of MMI are long-term insurance, asset management, investment, healthcare administration and employee benefits. Product solutions are provided to all market segments. MMI operates in 12 countries outside of South Africa. It provides for the insurance needs of individuals in the lower-, middle- and upper-income markets, principally under the Momentum and Metropolitan brand names.
Actual interest 83%
OUTsurance is a direct personal lines and small business short-term insurer. As pioneers of the OUTbonus concept, it has grown rapidly by applying a scientific approach to risk selection, product design and claims management. Its South African direct life insurance business has gained significant traction during the year. Youi, the group’s direct personal lines initiative in Australia, achieved the necessary scale to run profitably.
Actual interest 76%
RMBSI holds both short-term and life insurance licences. It creates bespoke insurance and financial risk solutions for South Africa’s large corporations by using sophisticated risk techniques and innovative financial structures. In addition, it partly owns a portfolio of underwriting management agencies.
RMI Holdings’ actual interest in these group entities is different from the effective interest as a result of the following consolidation adjustments:
• treasury shares held by these entities;
• shares held in them by their staff share incentive trusts;
• “deemed” treasury shares arising from BEE transactions entered into; and
• “deemed” treasury shares held in them by policyholders and mutual funds managed by them.