Rand Merchant Investment Holdings

Rand Merchant Investment Holdings (also referred to as RMI Holdings) is a listed South African financial services investment holding company[1] that holds various insurance brands in 9 countries around the world.[2]

Overview

RMI Holdings is listed on the JSE and insurance and investment products and services to retail, commercial, corporate and public sector customers. The group has its headquarters in Sandton, South Africa.

History

RMI Holdings was incorporated and registered in South Africa on 24 March 2010 as a wholly owned subsidiary of RMB Holdings.[3] On 7 March 2011, RMB Holdings (RMBH), Remgro

Member companies

The companies that compose RMI Holdings include:

Current 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.[12] Its subsidiaries include:[13]
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 (Proprietary) Limited – Australia – 93% Shareholding – Offering general insurance
5) * Youi New Zealand – New Zealand – 93% Shareholding – Offering general insurance – The Youi Insurance NZ portfolio was sold to Tower Insurance in December 2019.
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) Entersekt – South Africa – 25.1% Shareholding – An online banking security company.
9) AlphaCode – South Africa – 100% Shareholding – A technology venture capital firm in South Africa.
10) Merchant Capital – South Africa – 25.1% Shareholding – A provider of working capital finance to SMEs in South Africa.[14] Held through AlphaCode.
11) Prodigy Finance – UK – 3.5% Shareholding – an online platform that enables financing for international postgraduate students whilst delivering financial returns to investors.

Former investments

1) RMB-SI Investments Proprietary Limited – South Africa – RMB-SI trades in the short term and long term insurance sectors.[15] RMIH sold its entire 76% Shareholding in RMB-SI to Santam in March 2017.[16] RMB-SI included the following investments:[17][18]
2) * RMB Structured Insurance Limited – South Africa – 100% Shareholding
3) * RMB Structured Life Limited – South Africa – 100% Shareholding
4) * RMB-SI Investments Mauritius Limited – Mauritius – 100% Shareholding
5) * RMB Financial Services Limited – Republic of Ireland

type	Public
foundation	2010
location	Johannesburg, South Africa
locations	Worldwide
key people	Jannie Durandt (Chairman)
industry	Insurance Financial services
products	Insurance and Asset Management
revenue	ZAR: 13.69 billion (2015)
net income	ZAR: 3.51 billion (2015)
assets	ZAR: 32.32 billion (2015)
equity	ZAR: 18.08 billion (2015)
homepage	Homepage
traded as	jse: RMIJ

Rand Merchant Investment Holdings

Overview

History

RMB Holdings Restructure

Post Restructure

Member companies

Current investments

Former investments

Ownership

Governance

See also

References