OUTsurance Holdings
| Public | |
| Industry | Insurance & Financial services |
| Founded | 28 February 1998 |
| Headquarters | Centurion, South Africa |
|
Key people
|
Laurie Dippenaar Chairman Willem Roos CEO |
| Products | Insurance |
| Revenue |
 ZAR:14.7 billion (2016)
|
|
ZAR:1.9 billion (2016)
|
|
| Total assets |
ZAR:14.7 billion (2016)
|
| Total equity |
ZAR:5.9 billion (2016)
|
|
Number of employees
|
4,285 (2016) |
| Parent | RMI Holding |
| Website | Homepage |
OUTsurance Holdings Limited, commonly referred to as OUTsurance, is a subsidiary of Rand Merchant Investment Holdings (RMI Holdings), a South African based financial services investment holding company. OUTsurance Holdings Limited was formed in 1998 and is an unlisted public company with headquarters in Centurion, South Africa. It is an insurance services holding company based in South Africa, with subsidiaries in Namibia, Australia and New Zealand.
OUTsurance subsidiaries offer various short and long-term insurance products to individual and corporate customers.
OUTsurance was launched on 28 February 1998 as a wholly owned subsidiary of RMB Holdings to provide short-term insurance to individuals. On 1 January 2000, OUTsurance acquired the First National Insurance group (FNI) from FirstRand in an all share deal that gave RMBH and FirstRand each an interest of 47.5% in the merged entity, with 5% being held by the staff trust. By virtue of its shareholding in FirstRand, RMBH has 59.4% control in OUTsurance.
2006 saw OUTsurance expand into Namibia with the launch of OUTsurance Insurance Company of Namibia in partnership with FNB Namibia. In 2008 the group launched Youi in Australia, making it the first African company to set up an insurance business in Australia. The group launched OUTsurance Life in 2010. This unit allowed the group to offer basic and fully underwritten life insurance products in South Africa.
On 7 March 2011, RMB Holdings, Remgro and FirstRand span off their insurance assets to RMI Holdings (then a wholly owned subsidiary of RMBH). and separately listing it on the JSE. The stake held in OUTsurance Holding by both RMB Holdings and FirstRand were thus taken up by RMI Holdings which was then listed it on the JSE by way of introduction. This made OUTsurance Holding a subsidiary of RMI Holdings.
In July 2014, OUTsurance expanded into New Zealand with the launch of Youi New Zealand, as a subsidiary of Youi Australia.
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Wikipedia