MMI Holdings Limited
 |
|
| Public | |
| Traded as | JSE:MMI |
| Industry | Insurance & Financial services |
| Founded | 2010 |
| Headquarters | Centurion, South Africa |
|
Key people
|
Johnson Njeke - Chairman Nicolaas Kruger - CEO |
| Products | Insurance and Asset Management |
| Revenue |
 ZAR: 28.1 billion (2014) |
|
ZAR: 3.3 billion (2014) |
|
| Total assets |
ZAR: 414 billion (2014) |
| Total equity |
ZAR: 25.2 billion (2014) |
|
Number of employees
|
17,976 |
| Website | Homepage |
MMI Holdings Limited, commonly referred to as MMI Holdings, is a South African based financial services group that is listed on the Johannesburg Stock Exchange.
MMI Holdings Limited engages in long and short-term insurance, asset management, savings, investment and employee benefits through its various brands. The Group has subsidiaries in Botswana, Ghana, Gibraltar, Guernsey, Kenya, Lesotho, Mauritius, Namibia, Nigeria, UK, South Africa, Swaziland and Zambia.
MMI Holdings was formed in 2010 when Metropolitan Holdings and Momentum Group, two insurance and financial services companies in South Africa, merged their operations.
Metropolitan was founded in 1898 as Homes Trust Limited and was later acquired by Sanlam in 1918. Sanlam merged Homes Trust Limited with Metropolitan Life Insurance Company Limited (another one of its subsidiaries) to form Metropolitan Homes Trust Life Limited in 1979.
In 1985, Metropolitan Homes Trust Life Limited changed its name to Metropolitan Life Limited (Metlife). Metlife was then listed on the JSE in 1986 and cross listed on the in 1996. The group name was changed to Metropolitan Holdings Limited in 2003. As at the merger date, Metropolitan Holdings was listed on the JSE.
Momentum traces its roots from Momentum Life Assurers Limited that was established in 1966 as a life assurance company and Southern Life Association Limited that was incorporated in 1904 as African Life Assurance Society. In 1992, RMB Holdings (RMBH) acquired interest in Momentum Life Assurers Limited.
On April 1, 1998, Anglo American Corporation of South Africa Limited (now Anglo American plc) merged its financial services interests with RMBH in order to achieve the objective of a unified financial services grouping known as First Rand. The transaction required that the business of Momentum Life Assurers Limited was transferred to the Southern Life Association Limited which was renamed FirstRand Insurance Company Limited and much later renamed Momentum Group Limited. As at the merger date, Momentum Group was a wholly owned subsidiary of First Rand.
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Wikipedia