MMI Holdings is a South African financial services group with its headquarters in Centurion.
Image: company site
Products and services of MMI are long and short-term insurance, investment, short-time insurance, health care administration, reward programmes and employee benefits. It conducts business in 13 African countries and is listed on the Johannesburg Stock Exchange.
MMI Holdings was formed in 2010 by merger of 3 insurance and financial services companies of South Africa, Metropolitan Holdings, FirstRand and Momentum Group. FirstRand sold its stake to Metropolitan in exchange for new Metropolitan ordinary shares. Post the merger RMB Holdings, Remgro and FirstRand sold their stake to RMI Holdings and got separate listing on the JSE.
It has 4 segments:
• Momentum Retail: It provides financial products and services to South African middle & upper income segments as well as their associated businesses.
• Metropolitan Retail: It serves the middle income segments of South Africa.
• Corporate and Public Sector: it serves medium to large client groups within the corporate and public segments.
• International: It manages the group’s global expansion as well as existing markets across segments. This will be achieved through multiple distribution channels and using appropriate brands in the country and region.
The group is on the cusp of major changes in its company structure and operating model which is schedules to continue for the next 2 years as well. The strategy is based on 3 pillars:
• Growth: Diversification initiative in short term insurance products, emerging markets, middle-income segment and alternative delivery channels.
• Client-centricity: Customized products & services to customers to suit their exact needs.
• Excellence: Improvement of processes to efficient and consistent operations.