The RMI Holdings group at a glance

RMI Holdings is a strategic investor in some of Southern Africa's most prominent insurance groups. Our interests include:

Discovery Holdings Limited

("Discovery") (effective interest: 26,7%*)
Discovery services the healthcare funding and insurance markets in South Africa, the United Kingdom, United States and China. It is a pre-eminent developer of integrated financial services products and operates under a number of brand names, the more important of which are Discovery Health, Discovery Life, Discovery Invest, DiscoveryCard, Vitality, PruHealth, PruProtect and Ping An.

MMI Holdings Limited

 ("MMI") (effective interest: 26,3%*)
MMI was formed from the merger of Momentum and Metropolitan, both sizeable insurance-based financial services players in South Africa to create South Africa’s third largest insurer. 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 assurance needs of individuals in the lower, middle and upper income markets, principally under the Momentum and Metropolitan brand names.

OUTsurance Holdings Limited

("OUTsurance") (effective interest: 92,3%*)
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. Youi, its direct personal lines initiative in Australia, and its South African direct life insurance business are fast gaining traction.

RMB Structured Insurance Limited

("RMBSI") (effective interest: 80,5%*)
RMBSI holds both short-term and life insurance licenses. 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’ effective interest in these group entities shows variations from the actual holdings as a result of consolidation adjustments by such entities of treasury shares held by them; shares held in them by their staff share incentive trusts; “deemed” treasury shares arising from BEE transactions entered into as well as “deemed” treasury shares held in them by policyholders and mutual funds managed by them. At 31 December 2011 the effective interest held as recorded above can be compared to the actual interest of RMI Holdings in the statutory issued share capital of the companies as follows:

   Effective   Actual  
Discovery   26,7%   25,0%  
MMI   26,3%   26,0%  
OUTsurance   92,3%   89,9%  
RMBSI   80,5%   76,4%