Our structure

  RMI Holdings RMI Holdings is a significant investor in some of South Africa’s most prominent insurance groups.
Our interests include:
  Discovery Discovery
Actual interest 25%*


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 the Discovery Health, Discovery Life, Discovery Invest, Discovery Insure, DiscoveryCard, Vitality, PruHealth, PruProtect and Ping An Health brand names.
Actual interest 25%*

MMI, South Africa’s third largest insurer, 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 assurance needs of individuals in the lower, middle and upper income markets, principally under the Momentum and Metropolitan brand names.

  Outsurance OUTsurance
Actual interest 83%*

OUTsurance is a direct personal lines and business short-term insurer. 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 and Youi, its direct personal lines initiative in Australia have gained significant traction during the year.

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 part 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 (refer to note 38):
• 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.

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