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 net income 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 . 1 contents 1 overview 2 history 2.1 pre merger history 2.1.1 metropolitan holdings limited 2.1.2 momentum group limited 2.2 the merger 2.3 post merger history 3 ownership 4 governance 5 see also 6 references overview edit 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 . 2 history edit mmi holdings was formed in 2010 when metropolitan holdings and momentum group two insurance and financial services companies in south africa merged their operations . 1 pre merger history edit metropolitan holdings limited edit 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 . 3 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 nsx in 1996 . the group name was changed to metropolitan holdings limited in 2003 . 3 as at the merger date metropolitan holdings was listed on the jse . momentum group limited edit 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 . 3 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 . 4 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 . 3 as at the merger date momentum group was a wholly owned subsidiary of first rand . in 2003 momentum group limited transferred its investment in discovery limited to firstrand limited for r740 million . this stake was later on unbundled to firstrand s shareholders including rmbh . 5 the merger edit on march 31 2010 metropolitan holdings first rand and momentum group entered into a merger agreement that would see the amalgamation of momentum s business with metropolitan . 3 firstrand sold its entire shareholding in momentum to metropolitan in consideration for which metropolitan will issue new metropolitan ordinary shares to firstrand . 6 this made momentum a wholly owned subsidiary of metropolitan . metropolitan then transferred its insurance business to momentum and was renamed mmi holdings with firstrand as the largest shareholder . 7 post merger history edit on 7 march 2011 rmb holdings rmbh remgro and firstrand span off their insurance assets to rmi holdings and separately listing it on the jse . this process led to the transfer of firstrand s entire shareholding in mmi holdings to rmi holdings . 8 ownership edit the shares of the stock of mmi holdings are traded on the jse under the symbol mmi . as at june 2014 the shareholding in the group s stock was as depicted in the table below 2 mmi holdings limited stock ownership rank name of owner percentage ownership 1 rand merchant investment holdings 24.50 2 government employees pension fund 10.40 2 other local & international investors 65.10 total 100.00 governance edit mmi holdings limited is governed by an eighteen person board of directors with johnson njeke serving as the chairman and nicolaas kruger serving as the group chief executive officer . 9 see also edit discovery limited outsurance holdings rand merchant investment holdings first rand remgro jse limited references edit a b mmi holdings limited about us . mmi holdings . retrieved 2015 03 23 . a b mmi holdings limited 2014 integrated report pdf . mmi holdings limited . 2014 06 30 . retrieved 2015 03 23 . a b c d e mmi holdings limited revised listing particulars pdf . mmi holdings limited . september 6 2010 . retrieved march 27 2010 . first rand abridged revised listing particulars . imara investing in africa . first rand limited . may 25 1998 . retrieved november 16 2014 . stokes gareth 14 september 2007 . rand merchant bank to top discovery shareholder list . fa news . retrieved 2015 12 28 . metropolitan holdings limited circular to metropolitan shareholders pdf . metropolitan holdings limited . september 6 2010 . retrieved march 27 2015 . detailed cautionary announcement in relation to the proposed merger of momentum and metropolitan and the subsequent unbundling by firstrand of its shares in metropolitan pdf . mmi holdings limited . retrieved 2015 03 27 . rmb holdings limited circular to shareholders regarding the rmbh restructuring . pdf . rmb holdings limited . 3 february 2011 . retrieved 13 december 2014 . mmi holdings limited directors . mmi holdings limited . retrieved 2015 03 23 . retrieved from https en.wikipedia.org w index.php title mmi holdings limited & oldid 737359966 categories insurance companies of south africa2010 establishments in south africacompanies established in 2010companies listed on the johannesburg stock exchangefinancial services companies of south africahidden categories engvarb from march 2015use dmy dates from march 2015 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 2 september 2016 at 07 22 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit 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