Rand Merchant Investment Holdings

Overview

History

RMB Holdings Restructure

• FirstRand – 30% Shareholding.
• OUTsurance – 58.5% Shareholding – RMB Holdings held 45% of OUTsurance directly and an additional 45% through FirstRand bring the total control to 58.5%.
• MMI Holdings – 18% Shareholding.
• Discovery – 25% Shareholding.
• RMB-Structured Insurance – 76% Shareholding.

• The transfer of the RMBH, Remgro and FirstRand's insurance interests to its newly incorporated wholly owned subsidiary, RMI Holdings. These insurance assets were transferred in exchange of additional shares in RMI Holdings.
• The unbundling of RMBH’s shares in RMI Holdings to RMBH shareholders and the separate listing of RMI Holdings on the JSE by way of introduction. RMI Holdings would then become an insurance-focused investment entity.

  Post Restructure

Member companies

Listed investments

1. Discovery Limited – South Africa – 25.8% Shareholding – This is an integrated financial services organisation operating in the health insurance, life assurance, investment and health and wellness markets. Discovery operates in South Africa, the United Kingdom, China, Singapore and the United States through various brands. Discovery Limited's stock is listed on the JSE
2. MMI Holdings Limited – South Africa – 25.2% Shareholding – MMI Holdings was formed through the merger of Momentum and Metropolitan. It is a leading financial services group conducting business in South Africa and elsewhere in Africa providing life insurance, short-term insurance, healthcare administration, asset management, investment and employee benefit programmes. Its stock is listed on the JSE.

   Unlisted investments

1. OUTsurance Holdings Limited – South Africa – 83.6% Shareholding – OUTsurance is a holding company with subsidiaries that conduct both short and long-term insurance activities. Its subsidiaries include:
2. * OUTsurance Life Insurance Company – South Africa – 100% Shareholding – Offering Life Insurance to the South African public.
3. * OUTsurance Insurance Company Limited – South Africa – 100% Shareholding – Offering General Insurance.
4. * Youi Limited – Australia – 93% Shareholding – Offering General Insurance
5. * Youi New Zealand – New Zealand – 93% Shareholding – Offering General Insurance
6. * OUTsurance Namibia Insurance Company Limited – Namibia – 49% Shareholding – Offering General Insurance. FNB Namibia owns 51% of the venture.
7. RMI Investment Managers – South Africa – 100%Shareholding – The Investment advisory arm of the group.
8. Hastings Group Holdings plc – UK – 29.9% Shareholding – A general insurance provider listed on the LSE.
9. Entersekt – South Africa – 25.1%Shareholding – An online banking security company.
10. AlphaCode – South Africa – 100%Shareholding – A technology venture capital firm in South Africa.
11. Merchant Capital – South Africa – 25.1%Shareholding – A provider of working capital finance to SMEs in South Africa. Held through AlphaCode.
12. Prodigy Finance – UK – 3.5% Shareholding – an online platform that enables financing for international postgraduate students whilst delivering financial returns to investors.

    Former investments

13. RMB-SI Investments Proprietary Limited – South Africa – RMB-SI trades in the short term and long term insurance sectors. RMIH sold its entire 76% Shareholding in RMB-SI to Santam in March 2017. RMB-SI included the following investments:
14. * RMB Structured Insurance Limited – South Africa – 100% Shareholding
15. * RMB Structured Life Limited – South Africa – 100% Shareholding
16. * RMB-SI Investments Mauritius Limited – Mauritius – 100% Shareholding
17. * RMB Financial Services Limited – Republic of Ireland – 100% Shareholding
18. * HCV Underwriting Managers Proprietary Limited – South Africa – 30% Shareholding
19. * Truffle Capital Proprietary Limited – South Africa – 23.4% Shareholding
20. * CIB Insurance Administrators Proprietary Limited – South Africa – 10.4% Shareholding
21. * Cyan Capital Proprietary Limited – South Africa – 10.44% Shareholding

    Ownership

Governance