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06-Dec-2017
(Official Notice)
Further to the announcement released on SENS on 27 November 2017 relating to MMI Holdings? invitation to shareholders to engage with the company on the remuneration policy as well as subsequent individual invitations distributed to various CSDPs (through whom shareholders had submitted votes against the remuneration policy), shareholders are advised as follows:

* The telephone conference took place on 4 December 2017 at 09:00 (SA time);

* All CSDPs to whom individual invitations were sent, contacted MMI and advised that they informed their clients to liaise directly with MMI, alternatively that their clients had received the SENS on the matter and would engage MMI directly, as required;

* Shareholders holding, or representing, 11.82% shareholding in MMI participated in the teleconference on 4 December (?participating shareholders?);

* The participating shareholders confirmed that they raised certain areas of concern in relation to the MMI remuneration policy directly with MMI, and that MMI had engaged with them on these issues prior to its Annual General Meeting (?AGM?) held on 24 November 2017. They requested that MMI should set up further individual meetings with them subsequent to the teleconference in order to discuss the previous explanations in greater detail; and

* MMI Holdings has undertaken to formally table the areas of concern raised at its next Remuneration Committee meeting for consideration, and the outcomes will be reported in the Remuneration Report in the next Integrated Report.
27-Nov-2017
(Official Notice)
MMI advised its shareholders that all the ordinary and special resolutions proposed in the notice of the AGM dated 5 September 2017 and tabled at the Company?s AGM held on Friday, 24 November 2017, were passed by the requisite majority of votes cast by shareholders.
23-Nov-2017
(Official Notice)
During the quarter, MMI Holdings has made further progress on its client-centric strategy and continued to invest in transforming its core operations towards building a future ready business. MMI believes that when the economic cycle turns positive we will reap material benefit from these investments. Notwithstanding the challenging market environment MMI faced this quarter, the group has started to see some progress come through from the measures previously communicated.



Diluted core headline earnings are down 4% on 1Q17. Operating profit was flat despite significant increase in spending on new initiatives in Momentum Retail and in Client Engagement Solutions. The operating profit outcome was aided by much improved profits on our Corporate disability book. Headline earnings, which include the full impact of market-related gains on our earnings, are up 54% versus 1Q17. Basic earnings are up 51%.



Retail new business volumes are marginally up on 1Q17. In Corporate the group has maintained pricing discipline which has resulted in a decline in Corporate flows for the quarter. Overall this leaves new business volumes 5% lower year-on-year.



The group's capital position (on the SAM basis) has improved subsequent to 30 June 2017. Updated technical specifications from the regulator, rising equity markets, expansion of our sub-ordinated debt programme, and ongoing technical refinement of our SAM modelling are all contributing. Our group SCR coverage ratio has improved from the middle to the upper end of MMI's targeted range. Our credit ratings were recently affirmed by Moody?s. MMI Group Limited maintained its Insurer Financial Strength (IFS) rating of Aaa.za and its subordinated debt is rated Aa2.za.



Outlook

Operating environment remains difficult in South Africa and we do not believe that the environment will improve meaningfully in the near term. This means that we need to continue applying strong discipline in our capital allocation decisions and to find increasingly efficient ways of doing business while also investing sufficiently for the future.



23-Nov-2017
(Official Notice)
On 22 November 2017, Moody?s Investors Service (?Moody?s?) released an Updated Credit Opinion on MMI Group Ltd. (?MMIGL?) that affirms the global scale Insurance Financial Strength (IFS) rating of Baa2, with a long-term rating of Baa3. Moody?s also affirmed the national scale IFS rating of MMIGL at Aaa.za with the long-term issuer rating at Aaa.za and the unsecured subordinated notes rating at Aa2.za.



It is worth noting that Moody?s national scale rating of Aaa.za is the highest rating in the country. Moody?s commented that MMIGL?s rating reflects its top tier market position in South Africa, its solid capital position and its flexible product characteristics which serve to reduce the impact on the group from stress related to credit pressures at the sovereign level.



10-Oct-2017
(Official Notice)
The board of directors of MMI (board) announces the resignation of Mr WM Krzychylkiewicz as an alternative director to Mr Peter Cooper, the non- executive director of MMI, with effect from 9 October 2017, to pursue his personal interests.

29-Sep-2017
(Official Notice)
Shareholders are referred to the announcement released on the Stock Exchange News Services (?SENS?), dated 8 September 2017 regarding the availability of the Group?s annual financial statements and the integrated report for the year ended 30 June 2017. MMI advises its shareholders that the integrated report, containing the audited group annual financial statements, has been distributed today, 29 September 2017. There were no changes to the audited summarised group results released on SENS on 6 September 2017.



In addition, shareholders are advised that the Company?s BEE certificate, which is valid for the 2017/2018 period is also available on the Company?s website www.mmiholdings.com.

20-Sep-2017
(Official Notice)
MMI Group Ltd. a subsidiary of MMI Holdings Ltd. advised bondholders that the annual financial statements of MMI Group Ltd. for the period ended 30 June 2017 are available for inspection at the registered office of the Company. The annual financial statements are also available on MMI?s website at www.mmiholdings.co.za/en/investor-relations/note-programme
08-Sep-2017
(Official Notice)
Shareholders are advised that the Group?s annual financial statements and the Integrated Report for the year ended 30 June 2017, will be available on the Company?s website www.mmiholdings.com from Friday, 8 September 2017. The Integrated Report will be distributed to shareholders on or about 29 September 2017. There were no changes to the audited summarised group results released on Stock Exchange News Services on 6 September 2017.



The annual financial statements have been audited by the Company?s auditors, PricewaterhouseCoopers Inc., and their unqualified audit report is available for inspection at the registered offices of MMI.



Notice of annual general meeting (AGM)

Shareholders are advised of MMI?s notice of the 16th AGM of the shareholders, for the year ended 30 June 2017, which will be held at 13:30 on Friday, 24 November 2017, at the MMI Head Office, 268 West Avenue, Centurion. Registration for attendance at the AGM will commence at 12:30. The record date for purposes of determining shareholders entitled to participate in and vote at the AGM is Friday, 17 November 2017. Accordingly, the last date to trade will therefore be 14 November 2017. The notice of the AGM is available on the Company?s website and will also be posted to shareholders together with the Integrated Report as stated above.



06-Sep-2017
(Official Notice)
06-Sep-2017
(C)
Net income lowered to R54.7 billion (R66.0 billion) whilst results from operations rose to R5.7 billion (R5.3 billion). Earnings attributable to owners dipped to R1.5 billion (R2.1 billion). In addition, headline earnings per share decreased to 118.3 cents per share (133.8 cents per share ).



Final dividend declaration

Ordinary shares

On 5 September 2017, a gross final dividend of 92 cents per ordinary share was declared by the board, resulting in a total dividend of 157 cents per share.



Preference shares

Dividends of R19.0 million (R20.1 million) (132 cents per share p.a.) were declared on the unlisted A3 MMI Holdings Ltd. preference shares as determined by the company's Memorandum of Incorporation.



Company strategy update

We remain committed to our client-centric strategy that is purposefully focused on providing for our clients' needs in order to enhance their lifetime Financial Wellness. At the same time we continue to refine the actions and decisions to optimise delivery on our strategy aspirations. Investors should be aware that:

*The business is increasingly focused on execution, with strategy now well ingrained in the various business areas;

*We have announced our plan to exit a number of African countries to improve focus on remaining operations.

*We continue to invest in our Multiply programme and see it as a key component of our client engagement strategy;

*We continue to invest in our distribution channels and the recent launch of our insurance products in selected African Bank branches is one manifestation of this focus.
25-Aug-2017
(Official Notice)
Shareholders are advised that the diluted core headline earnings per share, the group's main earnings measure to monitor the operational performance of the group, are expected to change by between -5 and 5 percent relative to the previous year. This equates to a range from 190cps to 210cps for F2017. Diluted core headline were 200cps in F2016. The core headline earnings result was impacted negatively by ongoing pressure on revenue growth due to weak returns from investment markets over the past two years. Core headline earnings also continue to be affected by weak underwriting experience on group disability business. Persistency experience deteriorated in 4Q17 in Metropolitan Retail compared to actuarial assumptions, whereas persistency experience in Momentum Retail remained positive. Strong mortality profits across the retail and corporate business and ongoing positive expense variances aided core earnings. MMI remains adequately capitalised at 30 June 2017.



Shareholders are further advised that the group's basic earnings per share are expected to decrease by between 20 and 30 percent (110cps and 96cps) relative to 138cps for the comparative period. Headline earnings per share are expected to show a decrease of between 5 and 15 percent (127cps and 114cps) relative to 134cps for the comparative period results.



The difference between the expected decline in core headline earnings and in headline earnings is largely driven by a significant (approximately R200m) decline in the level of fair value gains earned on the shareholders' investment portfolio. Foreign currency effects explain around half of the decline in fair value gains. For basic earnings there is an additional impact from impairment of intangibles (software and goodwill) which results in an additional negative impact on earnings of approximately R180m.



Note that MMI excludes fair value gains, impairment of intangibles, movement in the value of MMI shares held in policyholder funds, investment variances and non-recurring items from core headline earnings, whereas basic earnings include all these items.



MMI will be releasing final results for the year ended 30 June 2017 on 6 September 2017.
22-Jun-2017
(Official Notice)
Shareholders are informed that Chief Operating Officer (Danie Botes) and Chief Executive of Momentum Retail (Etienne de Waal) have resigned to pursue other interests.



In response to the resignations and to enable the group to deliver on its strategic initiatives, we wish to announce the following executive changes:

Mary Vilakazi, current group finance director, has been appointed deputy chief executive of MMI Holdings. Mary?s portfolio will include responsibility for the group?s finance, information technology, and operations functions. The deputy CEO role will effectively amalgamate the previous COO and FD roles. To support Mary in the expanded responsibility, two new roles have been added to the MMI executive committee; group chief financial officer and Group Head of Operations.



Risto Ketola, current Investor Relations and Business Performance Executive, has been appointed Group CFO. Risto will take executive accountability for investor relations, performance management, group reporting, certain group-wide services, merger - acquisitions, and balance sheet management.



Ashlene van der Colff, current Group Chief Internal Audit Executive, has been appointed Group Head of Operations. Ashlene has a proven track record in implementing business processes and will take responsibility to ensure that MMI operations and work practices are robust, effective, and efficient.



Khanyi Nzukuma has been appointed CEO of Momentum Retail. Khanyi has a strong track record having led the extensive channel restructuring in Metropolitan Retail that is now bearing fruit. Khanyi?s skill set in distribution and in leadership makes him the ideal candidate to take forward Momentum?s plans around revitalising its distribution models and client engagement experiences.



As mentioned to shareholders previously, the group continues to revitalise its operating model to ensure that we deliver on our strategic vision of being the preferred lifetime Financial Wellness partner, with a reputation for innovation and trustworthiness. In the medium term our focus is to invest in our distribution capabilities and in our client engagement solutions as well as to narrow our geographic footprint in Africa in order to maximise delivery in our core businesses in South Africa. 22 June 2017



19-Jun-2017
(Official Notice)
On 12 June 2017, Moody?s Investors Service (?Moody?s?) downgraded the global scale Insurance Financial Strength (IFS) rating to Baa2 with a long-term rating to Baa3 of MMI Group Ltd. (MMIGL). Moody?s also affirmed the national scale IFS rating of MMIGL at Aaa.za, with the long-term issuer rating at Aaa.za and the unsecured subordinated notes rating at Aa2.za.



It is worth noting that Moody?s national scale rating of Aaa.za is the highest rating in the country. Moody?s commented that MMIGL?s rating reflects its top tier market position in South Africa, its solid capital position and its flexible product characteristics.

12-Jun-2017
(Official Notice)
MMI and African Bank have entered into an agreement where they will offer expanded financial services solutions to their respective customers to facilitate financial wellness. The agreement is subject to regulatory approval. The two companies envisage that investing in this symbiotic relationship will enable them to provide a wider range of products and services to their customers and expand their service footprint; ultimately leading to an improved client experience. To this end, MMI and African Bank will enter into mutually beneficially relationships on 3 fronts:

? African Bank will provide the capabilities to enable a credit (lending) solution to MMI clients, for distribution via MMI?s established sales channels. African Bank will be the exclusive provider of consumer credit products to MMI, for solutions falling within its product range.

? Over time, MMI?s full range of insurance products (appropriate to the relevant target market) will, on an exclusive basis, be made available to African Bank?s customer base through its branch infrastructure and other distribution channels at its disposal.

? African Bank will act as sponsoring bank to facilitate deposit-taking and extend transactional banking capabilities that MMI wishes to offer to its clients.



For the lending solution, our plan is to build up a loan book in excess of R10 billion over the next five years. The plan for the insurance initiative is to build a distribution channel able to generate in-force premiums in excess of R1 billion within five years from inception of the venture. On both lending and insurance, profits will be shared 50/50 between the partners. The first phase of the insurance co-operative venture is expected to go live in the second half of 2017, with lending activities becoming fully functional during the first half of 2018.



Presentation to analysts on the partnership is available on the MMI website in the investor relations section of the website (www.mmiholdings.co.za/en/investor-relations/presentations).
06-Jun-2017
(Official Notice)
27-Mar-2017
(Official Notice)
MMI Group Ltd., a subsidiary of MMI Hlgds, advised bondholders that the interim financial statements of MMI Group Ltd. for the period ended 31 December 2016 are available for inspection at the registered office of the Company. The interim financial statements are also available on MMI Hlgds? website at www.mmiholdings.co.za/en/investor-relations/note-programme
02-Mar-2017
(C)
Net income for the interim period slumped to R20.7 billion (R32.7 billion). Results from operations took a dip to R3.0 billion (R3.2 billion). Earnings for the period attributable to owners decreased to R1.0 billion (R1.5 billion). In addition, headline earnings per share fell to 64.3 cents per share (91.3 cents per share).



Interim dividend declaration

Ordinary shares

On 1 March 2017, a gross interim dividend of 65 cents per ordinary share was declared by the board.



Preference shares

Dividends of R19.5 million (2015: R20.7 million) (132 cents per share p.a.) were declared on the unlisted A3 MMI Holdings Ltd preference shares as determined by the company's Memorandum of Incorporation.



Prospects

The strategic focus areas of the MMI group are client centricity, growth and excellence.



While overall group strategy remains unchanged, we have identified Client Engagement Solutions and Multiply as areas of specific strategic importance in order to differentiate its client value proposition.



MMI continues to invest in growth initiatives with the aim of enhancing shareholder value over the longer term. Going forward an increasing amount of the group's investment budget will be allocated to initiatives that broaden our South African distribution footprint.



The company's health insurance JV in India is likely to be our largest ongoing investment initiative outside of South Africa in the near future.



MMI has implemented strategies to continue unlocking value and generating the required return on capital for shareholders over time.
20-Feb-2017
(Official Notice)
Shareholders are advised that the core headline earnings per share, the group?s main earnings measure to monitor the operational performance of the group, are expected to be down by between 0 and 10 percent for the six month period. Core headline earnings continue to be affected by weak underwriting experience on group disability business (approximately R60m lower than in prior period) and by decline in health administration operating earnings following the loss of two large clients subsequent to 1H16 reporting period (approximately R70m lower than in prior period). The weak investment return on policyholder assets has also negatively affected the growth in asset-based fee income across the group. Persistency remains broadly in line with actuarial assumptions whereas retail risk experience remains ahead of actuarial assumptions. MMI remains well capitalised at 31 December 2016.



Shareholders are further advised that the group's interim period basic earnings per share are expected to be between 59 cents and 69 cents compared to 98.7 cents, a decrease of between 30 and 40 percent to the comparative period. Basic headline earnings per share are expected to be between 59 cents and 68 cents compared to 91.3 cents, showing a decrease of between 25 and 35 percent on the comparative period results.



The difference between the expected decline in core headline earnings and in basic earnings is largely driven by two items. Firstly, a significant (approximately R130m) decline in level of fair value gains earned on shareholders? investment portfolio. The decline in fair value gains includes the impact of currency movements on foreign assets over the two relevant time periods. Secondly, there was a material (approximately R140m) year-on-year change in earnings arising from the technical IFRS treatment of MMI shares held in policyholder funds as treasury shares.



Note that MMI excludes fair value gains, movement in value of MMI shares held in policyholder funds, investment variances and non-recurring items from core headline earnings whereas basic earnings include all these non- operational items.



MMI will be releasing interim results for the six months ending 31 December 2016 on 2 March 2017.
07-Dec-2016
(Official Notice)
The Board of MMI Holdings informs its shareholders of the appointment of Mr Louis von Zeuner as the deputy chairman of the board of MMI Holdings Ltd. and MMI Group Ltd. with effect from 1 December 2016, following the retirement of Mr Johan Burger as a director and the deputy chairman of these two boards.



02-Dec-2016
(Official Notice)
23-Nov-2016
(Official Notice)
MMI is pleased to inform its shareholders that all the ordinary and special resolutions proposed in the notice of the AGM dated 30 September 2016, as well as the notice of amendment to the AGM dated 27 October 2016, and tabled at the Company?s AGM held on Tuesday, 22 November 2016, were passed by the requisite majority of votes cast by shareholders.
27-Oct-2016
(Official Notice)
Shareholders are referred to the company announcement published on 30 September 2016 on the Stock Exchange News Service, wherein they were advised of the MMI notice of annual general meeting ("AGM") to be held at 13:30 on Tuesday, 22 November 2016, in the Executive Boardroom, 1st floor, MMI Head Office, 268 West Avenue, Centurion.



MMI has determined the need to include a new Special Resolution number 3 to its Notice of AGM which was circulated to shareholders on 30 September 2016. Notwithstanding the decision by the MMI Remuneration Committee and MMI Board that the scale of remuneration for non-executive directors which was approved by shareholders at the AGM in November 2015, should not increase, the unchanged fees will be submitted for re-approval by shareholders at the next AGM. As a consequence, the company hereby gives notice to shareholders that the "Notice of Amendment to the AGM: Special resolution 3" relating to payment of fees (albeit unchanged) to the non-executive directors of MMI, has been distributed to shareholders on Thursday 27 October 2016, together with an Amended Form of Proxy. The "Notice of Amendment to the AGM: Special resolution 3" and Amended Proxy Form is available on the Company?s website www.mmiholdings.com .

05-Oct-2016
(Official Notice)
The board of directors of MMI (Board) announces the appointment of Prof. S Jurisich, as a non-executive director of MMI, with effect from 1 October 2016.



Furthermore, the Board announces that Mr Burger, who is retiring by rotation during the next annual general meeting to be held on 22 November 2016, has advised that he is no longer available for re-election and will therefore retire as a director of MMI on the same day at the AGM. As a consequence of Mr Burger's retirement from the board, the board has approved the appointment of Mr P Cooper, a non-executive director of MMI, as chairman of the MMI Remuneration Committee (?Remco?) with effect from 1 October 2016. In light of Mr Cooper?s appointment as the Chairman of Remco, he serves in this ex officio capacity as a member on the MMI Nominations Committee with effect from 1 October 2016. Mr Burger stepped down as a member on both the Remco and Nominations Committee with effect from 30 September 2016.



30-Sep-2016
(Official Notice)
Shareholders are advised that the Group?s Annual Financial Statements for the year ended 30 June 2016, as contained in the Integrated Report, have been distributed to shareholders on 30 September 2016. There were no changes to the audited summarised group results released on Stock Exchange News Services on 7 September 2016. The full annual financial statements, as well as the Integrated Report, are available on the company?s website at www.mmiholdings.com.



The annual financial statements have been audited by the company?s auditors, PricewaterhouseCoopers Inc., and their unqualified audit report is available for inspection at the registered offices of MMI.



Notice of annual general meeting (?AGM?)

Shareholders are advised of MMI?s notice of the 15th AGM of the shareholders, for the year ended 30 June 2016, which will be held at 13:30 on Tuesday, 22 November 2016, at MMI Head Office, 268 West Avenue, Centurion. Accordingly, the record date for the AGM is Friday, 11 November 2016. Registration for attendance at the AGM will commence at 12h30. The notice of the AGM has been posted to shareholders together with the Integrated Report and is also available on the company?s website.
20-Sep-2016
(Official Notice)
MMI Group Ltd. advises bondholders that the annual financial statements of MMI Group Ltd. for the period ended 30 June 2016 are available for inspection at the registered office of the company. The annual financial statements are also available on MMI?s website at www.mmiholdings.co.za/en/investor-relations/note-programme



07-Sep-2016
(Official Notice)
07-Sep-2016
(C)
Net income for the year ended 30 June 2016 decreased to R65.996 billion (2015: R66.558 billion). Results of operations lowered to R5.261 billion (2015: R6.196 billion), profit attributable to owners of the parent came in lower at R2.142 billion (2015: R2.857 billion), while headline earnings pers share weakened to 133.8 cents per share (2015: 184.5 cents per share).



Final dividend declaration

A gross final dividend of 92 cents per ordinary share was declared, resulting in a total dividend of 157 cents per share.



Prospects

- The strategic focus areas of the MMI group are client centricity, growth and excellence.

- Taking into account the economic outlook, the group has increased the focus on efficiencies, whilst continuing to pursue top-line growth.

- MMI continues to invest in growth initiatives with the aim of enhancing shareholder value over the longer term.

- Growth in new business volumes and profits will, however, be impacted by many factors in the South African economy, including employment levels and disposable income.

- The board of MMI believes that the group has identified and is implementing appropriate and focused strategies to continue unlocking value and generating the required return on capital for shareholders over time.
31-Aug-2016
(Official Notice)
MMI will be releasing final results for the year ended 30 June 2016 on 7 September 2016.



Shareholders are advised that the group`s diluted core headline earnings is expected to be between 195 and 205 cents per share, a reduction of between 14 and 18 percent. Diluted earnings per share and diluted headline earnings per share are expected to be between 130 and 140 cents per share, a decrease of between 23 and 28 percent on the corresponding financial period to 30 June 2015.



The decrease in core headline earnings in the current year is mainly the result of lower underwriting profits in certain of the businesses, lower overall investment market levels over an extended time period and a slow-down in health administration profits.



In addition, the decrease in earnings and headline earnings is also impacted by net negative actuarial basis changes, mainly as a result of expense reallocations between the holding company and the operating life company as disclosed in the interim results.



The overall annualised return on embedded value is expected to be between 11 and 14 percent ? this is an improvement on the prior year return and is in line with the group?s minimum target of exceeding the risk-free rate plus three percent. The current return was assisted by good growth in new business volumes and the resulting value of new business.



The capital buffer, calculated taking into account economic capital, strategic growth initiatives and dividends, remains strong.
22-Jul-2016
(Official Notice)
The Board of Directors of MMI (Board) is pleased to announce the appointment of Mr Voyt Krzychylkiewicz as an alternative director to Mr Peter Cooper, the non-executive director of MMI, with effect from 21 July 2016.



02-Jun-2016
(Official Notice)
Growth

The group continues to invest in growth initiatives in line with the stated long-term goals.



Client centricity

The implementation of the client-centric strategy has improved MMI?s understanding of clients? needs and enabled the development of relevant client solutions. The solutions are distributed on an omni-channel basis and strongly supported new business volumes during the nine months.



Excellence

The expense reduction project is progressing well and the group is confident that the targeted annual reduction of R750 million will be achieved by the end of the 2019 financial year.
27-May-2016
(Official Notice)
MMI advised note-holders on 10 March 2016 of the extended validity period to 31 May 2016 relating to the ratings assigned to MMI and Guardrisk by Fitch Ratings. MMI and Guardrisk would like to advise that they have appointed Moody?s Investors Service (?Moody?s?) as their new credit rating agency.



On 27 May 2016, Moody?s assigned a national scale insurance financial strength (IFS) rating of Aaa.za and a long-term issuer rating of Aaa.za to MMI Group Ltd. (MMIGL). Moody?s also assigned a rating to MMIGL?s unsecured subordinated notes on the national scale of Aa2.za. Moody?s commented that MMIGL?s rating reflects its top tier market position in South Africa, its solid capital position and its flexible product characteristics.



Moody?s further assigned national scale IFS ratings to both Guardrisk Insurance Company Ltd (Guardrisk Insurance) and Guardrisk Life Ltd (Guardrisk Life) of Aaa.za, while a Baa2 global scale IFS rating was assigned to Guardrisk International Ltd PCC, incorporated in Mauritius (Guardrisk International). The ratings of Guardrisk reflect its good market position as the largest cell captive insurer in the South African market, its low underwriting risk due to its fee based model, its diverse product mix across life insurance and short-tailed non-life insurance lines, and strong and consistent profitability.







03-May-2016
(Official Notice)
In line with MMI?s commitment to deliver on its stated strategy, the Board of MMI (?Board?) is pleased to advise its shareholders of the following changes to certain Executive roles with effect from 1 May 2016:

*Mr Etienne de Waal will become the CEO of the Momentum Retail Segment.

*Mr Mark van der Watt, current CEO of Momentum Retail Segment, will become the CEO of the Life Insurance Centre of Excellence.

*Mr Blum Khan reaches normal retirement age in June 2016 and will step down as CEO of the International Segment once the succession planning for the International Segment has been completed. He will act as a consultant to MMI after his retirement.



The following additional members have been appointed to the MMI Exco:

*Mr Thinus Alsworth- Elvey: CEO of Investments and Savings Centre of Excellence. In addition he will represent the UK business at the MMI Exco; and

*Ms Zureida Ebrahim: CEO of Client Engagement Solutions



The Board also informs shareholders of changes to certain Board Committees with effect from 29 April 2016.



Actuarial Committee:

Mr David Park has been appointed as a member of the MMI Actuarial Committee. Mr Park is a qualified Actuary and has a wealth of experience specialising in consulting to a large variety of small, medium and large life insurers in South Africa.



Remuneration Committee: Mr Peter Cooper has been appointed as a member of the MMI Remuneration Committee. Mr Cooper joined the MMI Board on 20 November 2015.



The Board is of the view that the changes will make an important contribution to the implementation of MMI?s strategy.



03-Mar-2016
(Official Notice)
03-Mar-2016
(C)
Net income for the interim period increased to R32.701 billion (2014: R31.544 billion). Results of operations rose to R3.187 billion (2014: R2.746 billion), earnings for the period attributable to owners of the parent was higher at R1.537 billion (2014: R1.353 billion), while headline earnings per share grew to 91.3 cents per share (2014: 87.1 cents per share).



Interim dividend declaration

On 2 March 2016, a gross interim dividend of 65 cents per ordinary share was declared.



Prospects

- The strategic focus areas of the MMI group are growth, client centricity and excellence.

- Each segment, together with the Product and Solutions Centres of Excellence and supporting functions, is advancing the implementation of MMI?s client-centric strategy.

- Taking into account the economic outlook, the group has increased the focus on efficiencies while continuing to focus on quality top-line growth.

- As part of the implementation of the client-centric model, a number of areas have been identified where further efficiencies can be extracted. These savings have been quantified and MMI is targeting a further reduction in annual expenses of R750 million by financial year 2019.

- MMI is continuing to invest in growth initiatives with the aim of enhancing shareholder value over the longer term.

- Growth in new business volumes and profits will, however, be impacted by many factors in the South African economy, including employment levels and disposable income.

- The board of MMI believes that the group has identified and is implementing innovative strategies to continue unlocking value and generating the required return on capital for shareholders over time.
09-Dec-2015
(Official Notice)
The Financial Services Board (FSB), as the Registrar of Credit Rating Agencies, announced the cancellation of the registration of Fitch Southern Africa (Pty) Ltd. (?Fitch Southern Africa?) as a credit rating agency with effect from 4 September 2015. This follows a request by Fitch Southern Africa that their registration be cancelled. The cancellation of the registration means that Fitch Southern Africa, or any other Fitch office or entity, will no longer issue credit ratings for regulatory purposes in South Africa. Activities related to credit rating services, including marketing and advertising of and canvassing for credit ratings by Fitch Southern Africa are no longer permitted. To ensure continuity and to maintain financial stability, the ratings issued by Fitch Southern Africa will be valid for a period of 4 months and ratings issued in conjunction with another rating agency will be valid for a period of 14 days after the date of publication of the notice of deregistration on the FSB?s website. Thereafter, Fitch clients will need to seek a rating from another FSB registered credit rating agency.



MMI Group Ltd. has appointed another FSB registered credit rating agency to perform its credit ratings. These credit ratings will be published in due course. In the meantime, the FSB has extended the validity of the Fitch credit ratings of MMI Group Ltd. (Insurer Financial Strength rating of ?AA+(zaf)?), MMI Holdings Ltd. (National Long-term rating of ?AA-(zaf)?), Guardrisk Life Ltd. (Insurer Financial Strength rating of ?AA+(zaf)?), Guardrisk Insurance Company Ltd. (Insurer Financial Strength rating of ?AA+(zaf)?) and Guardrisk International Ltd. PCC (Insurer Financial Strength rating of ?BBB+?) until 12 March 2016.
25-Nov-2015
(Official Notice)
23-Nov-2015
(Official Notice)
MMI informed its shareholders that all the ordinary and special resolutions proposed in the notice of the AGM dated 8 September 2015 and tabled at the Company?s AGM held on, Friday 20 November 2015, were passed by the requisite majority of votes cast by shareholders.
20-Nov-2015
(Official Notice)
The Board of Directors of MMI (Board) announced the appointment of Mr Peter Cooper, as a non-executive director of MMI, with effect from 20 November 2015.



Mr Cooper, a qualified Chartered Accountant, previously served as the Chief Executive Officer and Financial Director of RMB Holdings Ltd. RMH) and, subsequently, Rand Merchant Insurance Holdings Ltd. (RMI), until 2014. He is currently a non-executive director of RMH, RMI, RMB Structured Insurance, OUTsurance and Imperial Holdings, and an alternate director of Firstrand.
30-Sep-2015
(Official Notice)
Shareholders are advised that the Group?s Annual Financial Statements for the year ended 30 June 2015, as contained in the Integrated Report, have been distributed to shareholders on 30 September 2015. There were no changes to the audited summarised group results released on SENS on 9 September 2015. The full annual financial statements, as well as the Integrated Report, are available on the Company?s website at www.mmiholdings.com. The annual financial statements have been audited by the Company?s auditors, PricewaterhouseCoopers Inc., and their unqualified audit report is available for inspection at the registered offices of MMI.



Notice of AGM

Shareholders are advised of MMI?s notice of the 14th AGM of the shareholders, for the year ended 30 June 2015, which will be held at 13:30 on Friday, 20 November 2015, at MMI Head Office, 268 West Avenue, Centurion. Registration for attendance at the AGM will commence at 12:30. The notice of the AGM has been posted to shareholders together with the Integrated Report and is also available on the Company?s website.
14-Sep-2015
(Official Notice)
MMI Group Ltd. a subsidiary of MMI Holdings Ltd. wishes to advise bondholders that the annual financial statements of MMI Group Ltd. for the period ended 30 June 2015 are available for inspection at the registered office of the Company. The annual financial statements are also available on MMI?s website at http://www.mmiholdings.co.za/wps/wcm/connect/mmiholdings-za/eb5c8057- 7138-46d7-8e59-4706b8e5e74f/MMI+Group+Ltd+AFS+FY2015.pdf?MOD=AJPERES
09-Sep-2015
(Official Notice)
MMI reported a 17% increase in profits from operating divisions to R3.5 billion, while the group's value of new business increased strongly by 22% to R954 million. New business expressed as the present value of premiums rose by 21% to R50 billion, on the back of very good fourth quarter sales.



Total core headline earnings increased by 6% to R3.8 billion, with growth being impacted by an increase in investments made into strategic growth initiatives that underpin MMI's client-centric strategy. Return on embedded value was 10%, representing an embedded value profit of R3.8 billion, that contributed to a total embedded value of R40.3 billion as at 30 June 2015.



MMI has paid over R12.1 billion in dividends to shareholders in the past five years since the merger between Momentum and Metropolitan. This includes a dividend of R2.4 billion for the year to 30 June 2015, 9% higher than the previous year.



Momentum Retail, which focuses on the financial wellness needs of the middle and upper income market segments, remains the largest contributor with an operating profit of R1.5 billion, achieving profit growth of 12%. Metropolitan Retail, which focuses on the financial wellness needs of the lower income market segment, has implemented a new remuneration model for financial planners. This model is aimed at improving our planners' productivity and sustainability over time.



Momentum Employee Benefits has entrenched its reputation as a stellar performer in MMI, with Guardrisk making a very strong contribution. Momentum Employee Benefits contributed R660 million to operating profit, a 28% improvement on the previous year's contribution.



MMI's International division has laid a solid foundation for creating value in future, increasing its operating profit by 25% for the year to R152 million.



Metropolitan Health has increased operating profit by 22% to R209 million for the year. Recently acquired healthcare group CareCross and Occupational Care South Africa (OCSA) have made positive contributions to the operating profit. Momentum Short-term Insurance has increased its number of contracts by 49% to 56 425 during the year under review. Efforts to build brand awareness are paying off, with a significant increase in premiums of 52%. Our relatively high claims ratios will be managed down systematically over time.
09-Sep-2015
(C)
Net income decreased to R66.6 billion (R87.7 billion). Net attributable profit was lower at R2.9 billion (R3.2 billion). In addition, headline earnings per share came in at 184.5cps (207.1cps).



Dividend

A gross final dividend of 92 cents per ordinary share was declared, resulting in a total dividend of 155 cents per share.



Prospects

*The strategic focus areas of the MMI group are growth, client centricity and excellence.

*Each segment, together with the Product and Solutions Centres of Excellence and supporting functions, is advancing the implementation of MMI's client-centric strategy.

*Plans and processes are being executed to optimise structures, distribution channels and solutions, focusing on innovation and collaboration.

*Taking into account the current environment, the group has increased the focus on efficiencies, having identified specific cost-saving initiatives, whilst continuing to pursue top-line growth.

*Growth in new business volumes and profits will, however, be impacted by many factors in the South African economy, including employment levels and disposable income.

*The board of MMI believes that the group has identified and is implementing innovative strategies to continue unlocking value and generating the required return on capital for shareholders over time.
11-Aug-2015
(Official Notice)
On 25 April 2006 MMI Group Ltd. (formerly Momentum Group Ltd.) (the Issuer) issued ZAR1 000 000 000 Unsecured Subordinated Callable Notes (MGL01) (the MGL01 Notes) due 15 September 2020 (the Maturity Date) pursuant to the terms and conditions contained in the Applicable Pricing supplement (the Previous Momentum Applicable Pricing Supplement) dated on or about 25 April 2006 read together with the terms and conditions contained in the programme memorandum dated 20 April 2006(the Previous Momentum Programme Memorandum) pursuant to the ZAR1 000 000 000 Unsecured Subordinated Callable Note Programme established by Momentum Group Ltd. (the Previous Momentum Programme).



On 5 March 2014, the Issuer updated and consolidated the Previous Momentum Programme together with the Metropolitan Life Ltd. ZAR500 000 000 Unsecured Subordinated Callable Note Programme (the Previous Metropolitan Programme) established on 13 December 2006 pursuant to a programme memorandum dated 13 December 2006 (the Previous Metropolitan Programme Memorandum) and established the MMI Group Ltd. Unsecured Subordinated Callable NoteProgramme (the Programme) in terms of which the Issuer may from time to time issue debt securities on the Interest Rate Market of the JSE Ltd. (the JSE) as described in the programme memorandum, which was amended and restated on 5 March 2014 (the Programme Memorandum), read with the relevant applicable pricing supplement from time to time.



On 5 March 2014, the Issuer amended and restated the terms of the Previous Momentum Applicable Pricing Supplement to reflect the amended terms and conditions of the Programme Memorandum. The MGL01 Notes are redeemable at the option of the Issuer on 15 September 2015.
11-Aug-2015
(Official Notice)
MMI Group Limited raises R1.25 billion from the South African debt capital markets



MMI Group Limited (a registered long-term insurance company and fully-owned subsidiary of MMI Holdings Limited), which has a registered R5 billion subordinated note programme with the JSE Stock Exchange, issued two bonds on 6 August 2015 totalling R1.25 billion.



The 7-year fixed rate R980 million bond was issued at 2.73% over the government benchmark bond being the R2023 and the 10-year fixed rate R270 million bond was issued at 3.05% over the government benchmark bond being the R186.



The issuance was just under 1.8 times subscribed, which resulted in MMI achieving pricing which is, for the 7-year bond, below the upper end, and for the 10-year bond, at the lower end of the price guidance that had been put out to the market by the arrangers of the issuance, Rand Merchant Bank, a division of FirstRand Bank Limited.



MMI Group Limited will be redeeming R1.0 billion of subordinated debt issued in April 2006, in line with the original timeline and intention during September 2015.

08-Jul-2015
(Official Notice)
MMI informed its shareholders of changes in the compositions of certain Board Committees, in light of;

*P Speckmann?s retirement, who is no longer a member of the Risk, Capital and Compliance Committee effective 30 June 2015.

*B Gouws? retirement, who is no longer a member of the Fair Practices Committee effective 30 June 2015, and S Jurisich?s appointment as a member with effect from 1 July 2015.

*the impending retirement of S Nxasana on 30 September 2015 as a director of the MMI Board, and his resignation as Chairman of the Remuneration Committee and member of the Nominations Committee effective 30 June 2015. J Burger has been appointed Chairman of the Remuneration Committee effective 1 July 2015.



The MMI Balance Sheet Management Committee is no longer in existence since 31 December 2014. Its activities have since been merged into the Risk, Capital and Compliance Committee.
08-Jul-2015
(Official Notice)
MMI announced that it has entered into an agreement with a group of key individuals from Momentum Asset Management, for a management buy-out of a portion of the asset management business. This marks a first step in the implementation of MMI?s client-centric outcomes-based investment model.



Under the outcomes-based investment strategy, MMI will be looking to partner with independent asset managers for the more active, equity-based asset strategies, whilst continuing to manage a number of strategies in- house.



As a first step in what MMI expects to be further partnerships with independent asset managers, the CEO of MMI?s Investments and Savings Centre of Excellence, Sibusiso Mabuza, also formerly CEO of Momentum Asset Management, together with several key individuals of his management team, are acquiring a portion of the Momentum Asset Management business from MMI. This acquisition will enable the key individuals to establish a new majority black-owned and controlled asset management business, in which MMI will be a shareholder. The transaction will be financed by both MMI and the key individuals.
04-Jun-2015
(Official Notice)
MMI and Aditya Birla Nuvo Ltd. ("ABNL"), part of the Aditya Birla Group, have entered into definitive Joint Venture agreements to provide innovative health insurance and wellness solutions in India. This transaction, first announced in October 2014, remains subject to applicable regulatory approvals.



MMI will hold 49% and ABNL will hold 51% in the Joint Venture Company to be named Aditya Birla Health Insurance Co. Ltd. (ABHICL). ABHICL is in the process of making an application to the Insurance Regulatory and Development Authority of India for obtaining a licence to start health insurance and wellness business operations. The company expects to commence operations in the next 12-15 months.
04-Jun-2015
(Media Comment)
Business Report announced that MMI is planning to expand its business in the rest of Africa from 5% to between 10 and 15%. MMI currently has a presence in twelve African countries, however, only two of the twelve countries are presently selling MMI's general insurance and short-term insurance products. MMI would like to customise its products for the local conditions of each country. Chief executive of MMI, Nicolaas Kruger, said that expanding into Africa is very attractive as the net profit margins on premiums are 3% plus compared with 2% in South Africa. MMI is also targeting Angola as Kruger said," Angola has a sizable economy,".



MMI entered the Indian market with a joint venture with Aditya Birla, where MMI would like to offer health and wellness products. MMI applied for a license to do business in India and is planning to start business in the country by mid 2016." We are busy with business plans but it is too early to make the number public. The size of the Indian market means it has huge potential," Kruger said.
27-May-2015
(Official Notice)
18-May-2015
(Official Notice)
Shareholders of MMI are advised that the Group Finance Director of MMI, Preston Speckmann, will retire effective 30 June 2015 after 16 years of distinguished service within the group. Mary Vilakazi will succeed him in the position of Group Finance Director, from 1 July 2015. As a result of his retirement, Preston will step down as an executive director and Mary will be appointed as executive director to the MMI and MMI Group Boards. Mary?s appointment completes the succession planning and structured handover process implemented last year ahead of Preston?s retirement.



Mary's association with MMI started when she was a partner at PwC responsible for the Metropolitan audit. She then served as a non- executive director of Metropolitan and subsequently non-executive director of MMI where she was a member of the Audit and Actuarial Committees. In May 2014 Mary became a MMI executive by virtue of her appointment as the CEO of Balance Sheet Management. In September 2014 she was appointed MMI?s Chief Financial Officer.



MMI further advises that Ngao Motsei, the Group Executive for Strategic HR and Transformation, has decided to leave the corporate world to pursue other interests. Ngao joined MMI in June 2011 as Group Executive: Strategic HR and took over the Transformation portfolio in October 2012. She will also step down as an executive director on the MMI Board and as MMI Group Executive for Strategic HR and Transformation on 30 June 2015.



The Board of MMI would like to thank Preston and Ngao for their respective contributions to the development and growth of MMI, and also wish Mary all the best in her new role.
04-Mar-2015
(Official Notice)
MMI announced its interim results for the six months to 31 December 2014, delivering a solid performance with an annualised return on embedded value of 12% for shareholders. Overall core headline earnings grew by 10% to R1 852 million, while the profits from operations were up by 13%. The group declared an interim dividend of 63 cents per share, representing an 11% increase when compared to the same period in 2013.



MMI, which surpassed the R50 billion market capitalisation mark earlier this year, achieved this solid operational performance, after allowing for investment into new growth initiatives.



Nicolaas Kruger, MMI CEO, said these results are pleasing given the continuing difficult operating environment. He said the negative return from equity markets during the six-month period, South Africa?s credit outlook, the ongoing energy crisis, labour challenges and the fact that consumers remain under pressure, contributed to the difficult operating environment.



MMI?s value of new business increased by 11% to R420 million, compared to the same period in 2013. New business on a present value of premiums (PVP) basis grew by 15% to R24 billion.



Momentum Short-term Insurance, one of the group?s product diversification initiatives, has increased the number of policies on book from 30 000 in December 2013 to more than 50 000 by December 2014. The Momentum middle-market initiative, a segment diversification initiative, has opened new branches and launched various products into that market.



MMI continues to seek out growth opportunities both inside and outside of South Africa, having announced a partnership in India with financial services group Aditya Birla Group in October 2014 and acquired stock broking firm Imara SP Reid in December 2014.
04-Mar-2015
(C)
Net insurance premiums received increased to R13.9 billion (R10.5 billion). Results from operations decreased to R2.7 billion (R3.5 billion). Profit attributable to owners came in at R1.4 billion (R1.8 billion). Furthermore, headline earnings per share per share plummeted to 87.1 cents per share (116.6 cents per share)



Dividend

On 3 March 2015, MMI announced a gross interim dividend of 63 cents per ordinary share, payable out of income reserves to all holders of ordinary shares recorded in the register of the company at the close of business on Friday, 27 March 2015.



Prospects

*The strategic focus areas of the MMI group are firmly focused on growth, client-centricity and excellence.

*Each segment is implementing plans and processes to identify and optimise structures, operations, target markets, distribution channels and product offerings through innovation and collaboration, in order to grow the group through client-centricity.

*Taking into account the current environment, the group will increase focus on efficiencies, having identified specific cost-savings initiatives, while continuing to pursue top-line growth.

*Growth in new business volumes and profits will, however, be impacted by many factors including employment levels, disposable income and the electricity supply.

*The board of MMI believes that the group has identified and is implementing innovative strategies to continue unlocking value and generating the required return on capital for shareholders over time.
26-Feb-2015
(Official Notice)
MMI will be releasing interim results for the six months ended 31 December 2014 on 4 March 2015.



Shareholders are advised that the group's basic and diluted core headline earnings is expected to be between 110 and 125 cents per share, an increase of between 5 and 15 percent compared to the previously reported interim results.



Core headline earnings is a measure of performance used by MMI in addition to earnings and headline earnings. Core headline earnings is regarded by the directors of MMI as an appropriate measure of longer-term operational performance, given that items of both a once-off and an inherently volatile nature are eliminated. These items include changes to the valuation basis, investment variances, fair value movements on investment assets and the amortisation of any intangible assets recognised due to business combinations.



Earnings and headline earnings include fair value movements on shareholder assets and investment variances that reflect investment market movements. The JSE All-share index fell 2% during the half-year to December 2014, compared with an increase of 17% in the half-year to December 2013.



Shareholders are also advised that the group?s basic and diluted earnings per share and headline earnings per share are expected to be between 80 and 95 cents per share, a decrease of between 20 and 30 percent on the previously reported comparative results due to the impact of investment markets.



The overall annualised return on embedded value, however, is expected to be between 10 and 14 percent - in line with the group?s minimum target of exceeding nominal GDP plus three percent.



The financial information on which this trading statement is based has not been reviewed and reported on by MMI`s external auditors.
19-Dec-2014
(Official Notice)
MMI Group Ltd. a subsidiary of MMI advised bondholders that the annual financial statements of MMI Group Ltd. for the period ended 30 June 2014 are available for inspection at the registered office of the Company. The annual financial statements are also available on MMI?s website at http://www.mmiholdings.co.za/wps/wcm/connect/3a8660d6-54c5-4478-98f7- 314c3aa77005/mmi-group-AFS-2014.pdf?MOD=AJPERES
15-Dec-2014
(Official Notice)
Shareholders are hereby advised that MMI, through its wholly owned subsidiary, MMI Strategic Investments (Pty) Ltd., has entered into an agreement with Imara Capital South Africa (Pty) Ltd. and Imara Asset Management South Africa (Pty) (?the Sellers?) to acquire 100% of the issued share capital of Imara S.P. Reid (Pty) Ltd. (?ISPR?) for a maximum purchase consideration of R120 million to be settled in cash (?the Transaction?). The Sellers are both subsidiary companies of Botswana listed Imara Holdings Ltd. (?IHL?).



Rationale for the Transaction

ISPR is a well-established mid-sized stockbroker with over 70 years of experience in the South African Stock broking market. ISPR provides a full range of broking services from traditional trade execution to full service stockbroking in local equities, derivatives and fixed interest instruments as well as trading and settlement access to Africa and international markets. ISPR?s mainstream brokerage is complemented by portfolio management for individuals and a fully integrated internet service which includes real-time information, charting and online trading.



The Transaction will provide MMI with, amongst others, the following benefits:

* ISPR comprises an important building block for MMI to further develop its private client wealth management offering and will ensure that Momentum Wealth is able to provide its clients with an attractive private investments value proposition, including stockbroking and share portfolio management;

* the ability to service the needs of retail and corporate client bases; and

* a reduced reliance on third party brokers for execution services which will reduce external brokerage flow generated by asset management.



Suspensive Conditions

The implementation of the Transaction is subject to the fulfilment of suspensive conditions that are usual for a transaction of this nature, including:

* approval by IHL?s shareholders voting in general meeting; and

* approval by the Johannesburg Stock Exchange, the Financial Services Board and the competition authorities.



Categorisation of the Transaction

The purchase consideration being less than 5% of MMI?s market capitalisation, the Transaction is not a categorised transaction in terms of the Listings Requirements of the JSE Ltd. and accordingly this announcement relating to the Transaction is made on a voluntary basis.
26-Nov-2014
(Official Notice)
MMI released a trading update for the three months ended 30 September 2014.



Operational highlights

* The MMI group had a good quarter from a new business perspective, with the total present value of premiums (PVP) increasing 30% on the prior year, primarily on the back of continued good employee benefits production.

* Strong single premium inflows continued, ending 30% higher than the strong prior year comparative quarter. New business recurring premiums increased 22% compared to the same quarter of 2013, mainly due to good growth in employee benefits.

* Overall, satisfactory client retention was experienced across the group.

* This growth in a very difficult operating environment reflects the strength of the diverse distribution channels and the alignment of the comprehensive product offerings in the group with their respective target markets.

* Good progress has been made in implementing the client-centric operating model and the group will continue to invest in the initiatives required to achieve its long-term strategic goals.



Group overview and operating environment

* Growth in the South African economy slowed significantly and this will put pressure on the disposable income of our clients.

* During this quarter the investment market volatility continued with the JSE all-share index falling about 4%. The absolute levels, however, remained higher than the previous year.

* The appropriateness of MMI?s new client-centricity strategy has been confirmed by developments in the operating environment, including challenging economic conditions, regulatory changes and changing client behaviour.



Growth initiatives

* Progress has been made with the strategic initiatives to diversify the group?s earnings streams.

* The acquisitions of Cannon Assurance in Kenya and Carecross have become unconditional.

* During October MMI announced that it had entered into a Memorandum of Understanding with Aditya Birla Financial Services Group ("ABFSG"), the financial services arm of India's leading conglomerate, Aditya Birla Group (?ABG?). MMI and ABFSG intend setting up a joint venture, which will enter the health insurance market in India.

* MMI is investing in a number of growth initiatives across the group, including the middle market and Momentum Short-term Insurance businesses.
20-Nov-2014
(Official Notice)
MMI is pleased to inform its shareholders that all the ordinary and special resolutions proposed in the notice of the AGM dated 9 September 2014 and tabled at the company's AGM held on, Tuesday 18 November 2014, were passed by the requisite majority of votes cast by shareholders.
13-Nov-2014
(Official Notice)
On 15 December 2006 MMI Group Ltd. (formerly Metropolitan Life Ltd.) (the Issuer) issued ZAR500 000 000 Unsecured Subordinated Notes (MET01) (the MET01 Notes) due 15 December 2019 (the Maturity Date) pursuant to the terms and conditions contained in the applicable pricing supplement (the Previous Metropolitan Applicable Pricing Supplement) dated 15 December 2006 read together with the terms and conditions contained in the programme memorandum dated 13 December 2006 (the Previous Metropolitan Programme Memorandum) pursuant to the ZAR500,000,000 Unsecured Subordinated Callable Note Programme established by Metropolitan Life Ltd. (the Previous Metropolitan Programme).



On 5 March 2014, the Issuer updated and consolidated the Previous Metropolitan Programme together with the Momentum Group Ltd. ZAR1 000 000 000 Unsecured Subordinated Callable Note Programme (the Previous Momentum Programme) established on 20 April 2006 pursuant to a programme memorandum dated 20 April 2006 (the Previous Momentum Programme Memorandum) and established the MMI Group Ltd. Unsecured Subordinated Callable Note Programme (the Programme) in terms of which the Issuer may from time to time issue debt securities on the Interest Rate Market of the JSE Ltd. (the JSE) as described in the programme memorandum, which was amended and restated on 5 March 2014 (the Programme Memorandum), read with the relevant applicable pricing supplement from time to time.



On 5 March 2014, the Issuer amended and restated the terms of the Previous Metropolitan Applicable Pricing Supplement to reflect the amended terms and conditions of the Programme Memorandum. The MET01 Notes are redeemable at the option of the Issuer on 15 December 2014.



This notice is delivered by the Issuer to each holder of MET01 Notes (the Noteholders) issued under the Programme Memorandum in accordance with Condition 17 (Notices) of the section headed "Terms and Conditions of the Notes" in the Programme Memorandum for purposes of notifying Noteholders of the Issuer exercising its option (call option) for early redemption of the MET01 Notes on 15 December 2014 at the face value thereof, together with any interest accrued thereon up until that date.
16-Oct-2014
(Media Comment)
Business Day reports that Kagiso Tiso Holdings("KTH"), a 7.1% shareholder in MMI, looked set to stay invested at least until 2017. KTH CEO Vuyisa Nkonyeni said " In any given year since the formation of KTH, MMI has been one of the top cash contributors to KTH.". Vuyisa Nkonyeni also said that there are no plans to sell their interest in MMI. Commenting on the 10 year anniversary of KTH, MMI CEO Nicolaas Kruger said that KTH has proven to be a supportive and effective BEE partner and that the partnership helped MMI achieve their strategic objectives and maintain and strengthen their BBE ownership credentials.
30-Sep-2014
(Official Notice)
Shareholders are advised that the Group's Annual Financial Statements for the year ended 30 June 2014, as contained in the Integrated Report, have been distributed to shareholders on 30 September 2014. There were no changes to the audited summarised group results released on SENS on 10 September 2014. The full annual financial statements, as well as the Integrated Report, are available on the company's website at www.mmiholdings.com.



The annual financial statements have been audited by the company's auditors, PricewaterhouseCoopers Inc., and their unqualified audit report is available for inspection at the registered offices of MMI.



Notice of Annual General Meeting ("AGM")

Shareholders are advised of MMI's notice of the 13th AGM of the shareholders, for the year ended 30 June 2014, which will be held at 12:00 on Tuesday, 18 November 2014, at MMI Head Office, 268 West Avenue, Centurion. Registration for attendance at the AGM will commence at 11:00. The notice of the AGM has been posted to shareholders together with the Integrated Report and is also available on the company's website.
10-Sep-2014
(Official Notice)
10-Sep-2014
(C)
Net income increased to R87.7 billion (R73.4 billion). Net attributable profit rose to R3.2 billion (R2.6 billion). In addition, headline earnings per share grew to 207.1cps (162cps).



Dividend

On 9 September 2014, a gross final dividend of 85 cents per ordinary share was declared, resulting in an annual dividend of 142 cents per share.



Special dividend

In addition, a special dividend of 50 cents per share was also declared.



Prospects

The strategic focus areas of the MMI group are firmly focused on growth, client-centricity and excellence.



*Each segment is implementing plans and processes to identify and optimise structures, operations, target markets, distribution channels and product offerings through innovation and collaboration, in order to grow the group through client-centricity.



*Growth in new business volumes will also be influenced by a tougher economic environment.



*The board of MMI Holdings believes that the group has identified and is implementing innovative strategies to continue unlocking value and generating the required return on capital for shareholders over time.
28-Aug-2014
(Official Notice)
MMI will be releasing final results for the year ended 30 June 2014 on 10 September 2014.



Shareholders are advised that the group's diluted earnings per share and diluted headline earnings per share are expected to be between 20 and 30 percent higher than the comparative results while diluted core headline earnings is expected to be up between 10 and 15 percent.



Core headline earnings is a measure of performance used by MMI in addition to earnings and headline earnings. Core headline earnings is regarded by the directors of MMI as an appropriate measure of longer-term operational performance, given that items of both a once-off and an inherently volatile nature are eliminated. These items include changes to the valuation basis, investment variances, fair value movements on investment assets and the amortisation of any intangible assets recognised due to business combinations.



The increase in earnings and headline earnings in the current period relative to the increase in core headline earnings is largely due to increased fair value movements on shareholder investment assets, lower actuarial basis changes and higher investment variances.



21-Aug-2014
(Media Comment)
Business Report announced that the merger of Metropolitan Holdings and the Momentum Group to form MMI has been a success, According to group chief executive Nicolaas Kruger MMI achieved a high success rate concerning merger objectives. Some of the objectives include saving R500 million in costs, merging six different product businesses while retaining an extremely high percentage of senior management. Client retention also remained solid during the merger period and looking at share price plus dividends as an indication of growth it has almost doubled since the time of listing.
02-Jul-2014
(Media Comment)
Business Day highlighted that insurer MMI Holdings had overhauled its business structure to help change it from a product-driven organisation to one more responsive to client needs. MMI has now turned focus to growth, which it hopes to achieve through better understanding and responding to client's financial needs. Under the new structure, MMI have four segment businesses, one products and solutions business, and several groupwide functions such as finance, human resources, risk management and balance sheet management.MMI is also building systems for client interaction, using social media and technology. as well as looking at better ways to analyse big data.
18-Jun-2014
(Official Notice)
MMI has announced that it has acquired, subject to relevant regulatory approval, the CareCross Health Group, including a majority share in Occupational Care South Africa (OCSA). The acquisition fits perfectly with the strategy of other group entities, including Metropolitan Health, the newly acquired Guard Risk and Hello Doctor, in their quest for developing innovative solutions that create affordable access to quality healthcare.



The acquisition specifically complements Metropolitan Health's current offering, further enhancing their ability to reduce healthcare costs and improve outcomes by coordinating services across the health value chain - particularly through the provision of primary health care services, managing access to specialist products and controlling the chronic medicine value chain. The acquisition is also expected to generate synergies between OCSA and Metropolitan Health's existing workplace wellness capability - Metropolitan Wellness.



Since inception in 1998, CareCross has focused on delivering affordable healthcare through provider networks. The company, with a national network of around 2 000 General Practitioners and 4 000 associated healthcare professionals such as specialists, dentists and optometrists, currently delivers managed care and administration services to approximately 200 000 medical scheme beneficiaries.



OCSA is widely considered a market leader in workplace health and wellness solutions. Through a joint initiative with OCSA, CareCross delivers integrated occupational health solutions to approximately 55 000 workers nationally.



Metropolitan Health manages health benefits for 3 million beneficiaries. The company successfully leverages economies of scale, a proprietary technology platform and integrated health risk management to reduce healthcare and non-healthcare costs for their clients.



It is envisaged that the acquisition, will provide the current CareCross and OCSA clients with access to Metropolitan Health initiatives, such as an in-pharmacy clinic venture with the Alpha Pharm franchise group, Hello Doctor services and the Multiply Rewards programme.
26-May-2014
(Official Notice)
06-Mar-2014
(Media Comment)
Business Day reported that the management of MMI will ask the company's board for more money for acquisitions in the rest of Africa. CEO Nicolaas Kruger commented that he would maybe ask for an additional R300 million so that MMI would again have an allocation of R500 million for acquisitions in Africa.
05-Mar-2014
(Official Notice)
MMI announced its interim results for the six months to 31 December 2013, delivering a solid performance and impressive annualised return on embedded value of 20% for shareholders. Core headline earnings grew by 13% to R1 690 million, while the group declared an interim dividend of 57 cents per share, representing a 12% increase when compared to the same period of last year.



MMI remains firmly focused on delivering consistent strong operating performance. The group reported a 24% increase in profits from operating divisions, which was helped by strong double digit growth across most divisions for the six months under review. In addition, strategic growth initiatives within each division, combined with plans and processes to identify and optimise business opportunities, position the group well for future success.



All divisions focused on acquiring high quality new business. MMI's value of new business increased by 23% to R378 million, with very strong growth in the value of new business of the Momentum Retail and Momentum Employee Benefits divisions.



MMI recently announced the acquisition of a majority stake in Kenyan insurer, Cannon Assurance Ltd. The Cannon deal, which is still subject to some conditions, will enable Metropolitan International to broaden its product offering to include short-term insurance and asset management in Africa.



The acquisition of Guardrisk was finalised in February 2014, with the approval of the Financial Services Board and the competition authorities.



The latest acquisitions, together with organic growth initiatives, demonstrate the group's strategic intent to expand its business through diversification; as it pursues growth both locally and outside of South Africa.
05-Mar-2014
(C)
Net insurance premiums received decreased to R10.5 billion (R12.6 billion). Results from operations increased to R4.0 billion (R3.2 billion). Profit attributable to owners jumped to R1.8 billion (R1.5 billion). Furthermore, headline earnings per share per share rose to 116.6 cents per share (90.8 cents per share).



Dividend declaration

Ordinary shares

The dividend policy for ordinary listed shares, approved by the directors, is to provide shareholders with stable dividend growth, increasing to reflect the board?s long-term view on the expected underlying basic core headline earnings growth. Exceptions will be made from time to time, in order to account for, inter alia, volatile investment markets, capital requirements and changes in legislation.



On 5 March 2014 a gross interim dividend of 57 cents per ordinary share was declared, payable out of income reserves to all holders of ordinary shares recorded in the register of the company at the close of business on Friday, 28 March 2014 and will be paid on Monday, 31 March 2014.



Prospects

The strategy of the MMI group is firmly focused on growth, excellence and client-centricity.



Each division has implemented plans and processes to identify and optimise structures, operations, target markets, distribution channels and product offerings through innovation and collaboration, in order to grow each business.



Growth in new business volumes will, however, remain dependent on the economic environment, including a recovery in employment and improved disposable income levels.



The board of MMI Holdings believes that the group has identified and is implementing innovative
03-Mar-2014
(Official Notice)
The sale of Guardrisk to MMI Holdings, which was announced in November 2013, has now been approved by the Financial Services Board and the South African competition authorities. The transaction which was approved by the Competition Tribunal without any conditions comes into effect on 3 March 2014. The relevant authorities in Mauritius and Gibraltar have also approved the transaction in relation to Guardrisk's operations in these two jurisdictions.



According to Herman Schoeman, Guardrisk Managing Director, being part of MMI Holdings, a JSE-listed financial services group, will provide many exciting new growth opportunities for the Guardrisk group of companies, which is South Africa's leading specialist-insurance group. Schoeman, who will continue to lead the company along with the current management team, foresees that the new partnership will enhance both businesses' offerings to clients as well as personal and career growth opportunities for Guardrisk employees. The purchase price of R1.6 billion will be funded from MMI's capital buffer.
24-Feb-2014
(Official Notice)
MMI announced that its Metropolitan International division has acquired a significant majority stake in Kenyan insurer Cannon Assurance Ltd. (Cannon). The acquisition is subject to regulatory and other required approvals. The shareholders of Cannon will in turn acquire a minority stake in Metropolitan Life Kenya. This transaction will enable a merger of the two companies with the consolidation of the life licences into one and a standalone short-term insurance licence and business.



Metropolitan International, which operates in twelve African countries outside South Africa, has a presence in Kenya through Metropolitan Life Kenya, offering long-term insurance products. The acquisition of Cannon will enable Metropolitan International to broaden its product offering to include short-term insurance and asset management. Established in 1974, Cannon has a wide footprint in Kenya with offices in Mombasa, Nairobi, Nakuru and Thika. Cannon services both retail and corporate clients and has established a Sharia compliant suite of insurance products.
20-Feb-2014
(Official Notice)
MMI will be releasing interim results for the six months ended 31 December 2013 on 5 March 2014.



Shareholders are advised that the group's diluted earnings per share and diluted headline earnings per share are expected to be up between 20 and 30 percent on the corresponding financial period of 2013 while diluted core headline earnings is expected to be up between 10 and 15 percent.



Core headline earnings is a measure of performance used by MMI in addition to earnings and headline earnings. Core headline earnings is regarded by the directors of MMI as an appropriate measure of longer-term operational performance, given that items of both a once-off and an inherently volatile nature are eliminated. These items include changes to the valuation basis, investment variances, fair value movements on shareholder assets and the amortisation of any intangible assets recognised due to business combinations.



The increase in earnings and headline earnings in the current period relative to the increase in core headline earnings is largely due to increased fair value movements on shareholder assets and investment variances.
16-Jan-2014
(Official Notice)
MMI announced that Fitch Ratings ("Fitch") has, on 15 January 2014, upgraded MMI's National Insurer Financial Strength Rating to AA+(zaf)from AA(zaf) and National Long-term rating to AA(zaf) from AA-(zaf). Fitch has simultaneously upgraded MMI Group's subordinated debt (MET01 and MGL01) to A+(zaf) from A(zaf). The Outlooks are stable. The updated Fitch report can be found on MMI's website (www.mmiholdings.com).
16-Jan-2014
(Media Comment)
Business Day noted that Fitch upgraded MMI's national insurer financial strength rating from AA to AA+ with stable outlook. The upgrade reflected that the merger of Metropolitan and Momentum to create MMI was progressing well financially and operationally.
18-Dec-2013
(Media Comment)
JSE -listed insurer MMI said its investigation of opportunities in India was progressing well and the company was likely to grow organically in the country. MMI CEO Nicolaas Kruger indicated that India is a fast growing economy with more than a billion people and a growing middle class, and that MMI were busy with discussions with potential local partners.
28-Nov-2013
(Official Notice)
Shareholders are advised that, except for two ordinary resolutions detailed below, which were withdrawn by MMI, all ordinary and special resolutions set out in the Notice of the AGM dated 30 September 2013, were duly passed by the requisite majority of MMI shareholders at the AGM held in Johannesburg on Wednesday, 27 November 2013.



Ordinary resolution 2.5 (re-election of Mrs M Vilakazi as a director on the MMI Board) and 4.3 (appointment of Mrs M Vilakazi as a member of the MMI Audit Committee) were withdrawn, since Mrs Mary Vilakazi did not stand for re-election as a Board member at the AGM. Mrs Vilakazi will assume a new role as CEO, MMI Balance Sheet Management (BSM) from 1 May 2014.
28-Nov-2013
(Official Notice)
MMI advise its shareholders of Mr Blignault Gouws' retirement as a non-executive director from the Board of MMI Holdings (the board) with effect from 27 November 2013. The Board is also announce the appointment of Mr Louis von Zeuner, as a non-executive director of MMI, with effect from 1 January 2014. Shareholders are further advised that Ms Mary Vilakazi did not stand for re-election as a Board member at the MMI Annual General Meeting held on 27 November 2013. Ms Vilakazi will assume a new role as CEO MMI Balance Sheet Management (BSM) from 1 May 2014. The current CEO of MMI BSM, Mr Nigel Dunkley, will be transferred to the MMI office in London from May 2014.
28-Nov-2013
(Official Notice)
*Total new business recurring premiums increased by 26% compared with the same quarter of the prior year, reflecting the strength of the diverse distribution channels and the alignment of the comprehensive product offerings in the group with their respective target markets.

*Strong single premium inflows continued, ending 12% higher than the comparative quarter; a period which included exceptional flows in the employee benefits division.

*Overall, very good client retention was experienced across the group.

*A number of growth initiatives have commenced; the benefits of which will only emerge in future reporting periods.

*The group has further strengthened internal resources, and good progress has been made in building new system capabilities in the short-term insurance operation.

*The group has substantially completed the merger integration phase and is transforming from an integration focus to a growth focus.



Acquisitions

*The acquisition of Guardrisk, a cell captive provider of tailored risk solutions was announced earlier this month. The purchase price of R1.6 billion will be funded out of MMI's existing capital resources. The transaction is subject to regulatory approvals

*In addition, the recently announced acquisition of Providence Healthcare Risk Managers will strengthen Metropolitan Health's position as the country's largest healthcare administrator.

*A number of growth opportunities are being pursued across the group, including acquisitions in Africa.



Market conditions and environment

*The group is operating in a highly competitive market with ongoing pressure on clients' disposable income.

*The need for and importance of investment and protection products within MMI's client base remains an integral part of their financial planning and wellness.

* Investment markets, while volatile, continue to be strong.



Opportunities and challenges

*MMI is an extremely well diversified financial services group with scale in all the established operations.

*Merger synergies will continue to emerge as projects are completed.

*Cross-selling and other new business opportunities are being pursued across the group.

*Growth in new business volumes will, however, remain dependent on the economic environment, including a recovery in employment and stronger disposable income levels.
04-Nov-2013
(Official Notice)
Financial services groups, Alexander Forbes and MMI have announced that they have reached agreement on the sale of Guardrisk (including Euroguard) to MMI for R1.6 billion.



The conclusion of the transaction is subject to, inter alia, regulatory approvals by the Financial Services Board and the competition authorities.



MMI, a JSE-listed financial services group, is the successful bidder from a list of several investors who expressed an interest in acquiring Guardrisk, a wholly owned subsidiary of Alexander Forbes.



The purchase price of R1.6 billion will be funded from MMI's capital buffer, which remains healthy to fund other strategic growth initiatives.
28-Oct-2013
(Official Notice)
MMI has announced that Mr Khanyi Nzukuma who is currently CEO of Momentum Consult, has been appointed as the CEO designate of Metropolitan Retail from January 2014.



The current CEO of Metropolitan Retail, Phillip Matlakala, will be reaching normal retirement age in the middle of 2014. Mr Matlakala?s invaluable industry experience will not be lost to MMI after his retirement in the middle of 2014, as he will play an advisory role on governance forums and strategic growth projects in MMI.



Mr Nzukuma's appointment is part of an executive succession plan to ensure a smooth and effective handover process and is the result of a comprehensive recruitment process.



Mr Danie Botes, currently MMI's Chief Integration Officer, has been appointed MMI?s Chief Operating Officer, effective immediately.



Mr Jan Lubbe has been appointed MMI?s Chief Risk Officer and will start in this role on 21 November 2013.



Ms Vuyo Lee has been appointed Group Executive responsible for Brand, Stakeholder Management and Sustainability and will start her new role with MMI on 1 December 2013.
30-Sep-2013
(Official Notice)
Shareholders were advised that the group's Annual Financial Statements for the year ended 30 June 2013, as contained in the Integrated Report, have been distributed to shareholders on 30 September 2013. There were no changes to the audited summarised group results released on SENS on 11 September 2013. The full annual financial statements, as well as the Integrated Report, are available on the company's website at www.mmiholdings.com.



Notice of AGM

Shareholders were advised of MMI?s notice of the 12th AGM of the shareholders, for the year ended 30 June 2013, which will be held at 16:00 on Wednesday, 27 November 2013, at 54 on Bath, 54 Bath Avenue, Rosebank, Johannesburg. Registration for attendance at the AGM will commence at 15:00. The notice of the AGM has been posted to shareholders together with the Integrated Report and is also available on the company's website.
11-Sep-2013
(C)
Net income increased to R72.2 billion (R51 billion). Net attributable profit rose to R2.6 billion (R2.3 billion). In addition, headline earnings per share grew to 162cps (145cps).



Dividend

A gross final ordinary dividend of 76cps has been declared.



Outlook

*The strategic focus of the MMI group has shifted from integration to growth initiatives.

*Each division has implemented plans and processes to identify and optimise structures, operations, target markets, distribution channels and product offerings through innovation and collaboration.

*Growth in new business volumes will, however, remain dependent on the economic environment, including a recovery in employment and stronger disposable income levels.

*The board of MMI Holdings believes that the group has identified and is busy implementing innovative strategies to unlock value and generate the required return on capital for shareholders over time.
04-Sep-2013
(Official Notice)
Shareholders of MMI were advised that the board of MMI has appointed Maliga Chetty as the Group Company Secretary with effect from 3 September 2013. Mrs Chetty has been the acting Group Company Secretary for MMI since April 2013.
14-Jun-2013
(Media Comment)
Business Day reported MMI CEO Nicolaas Kruger as saying that the Metropolitan and Momentum merger is complete and the group can now focus on growth. However, Kruger also said at investor conference that there was still some integration work needed in terms of system consolidation at certain units.
29-May-2013
(Official Notice)
Group overview and operational highlights for the nine months to March 2013:

*Total group new business PVP (present value of premiums) for the quarter increased by 11% compared with the corresponding figure of the prior year, and 11% year-to-date, confirming the need for financial products and the benefits to MMI from product and market segment diversification.

*Capital management projects are ongoing and the group remains appropriately capitalised.

*Delivering on expense management and merger efficiencies remain one of the top priorities; however the medium-term focus has moved to growth initiatives.



Market conditions and environment

*The group is currently operating in a challenging economic environment.

*Pressure on disposable income is increasing and the market remains highly competitive.

*The need for and importance of investment and protection products within MMI's client base remains an integral part of their financial planning and wellness.

*Investment markets, while relatively strong, continue to be volatile.



Opportunities and challenges

*MMI is a well diversified financial services group with scale in all the established operations.

*Merger synergies will continue to emerge as projects are completed.

*Cross-selling opportunities are being pursued across the group.

*Growth in new business volumes will, however, remain dependent on the economic environment, including a recovery in employment and stronger disposable income levels.
20-May-2013
(Official Notice)
The High Court of South Africa in Pretoria has approved the amalgamation of the two main long-term insurance licences of the MMI group. The court approval means that the current and future long-term insurance policies of Metropolitan and Momentum will all be underwritten by the same long-term insurance licensed entity. There will be no change to the terms and conditions, or the benefits of the policies. The amalgamated licence is held by MMI which is a wholly-owned subsidiary of MMI. Policyholders will continue to deal with Metropolitan and Momentum as the client-facing brands and all the current client contact details remain unchanged.
25-Apr-2013
(Official Notice)
Shareholders of MMI are advised that the current Group Company Secretary, Francois Jooste, is unable to continue with his duties, due to ill health. The Nominations Committee of the MMI Holdings Board has therefore appointed Maliga Chetty as the acting Group Company Secretary with effect from 25 April 2013, until a permanent appointment is made.
18-Apr-2013
(Media Comment)
According to Business Day. MMI faced a branding challenge when it had to combine its Metropolitan and Momentum 's employee benefits businesses. MMI then opted to paint the employee benefits division red, choosing the Momentum brand over Metropolitan. The selection was made despite some brokers preferring one brand over another. Nevertheless, the combination resulted in one of the group's best performers, with earnings growing at upper double digits. In the year to June 2012, Momentum Employee Benefits posted a 33% increase in operating profit. Kenny Meiring, corporate national head of sales at Momentum Employee Benefits, commented that prior to the merger Momentum and Metropolitan were number four and number five when it came to group risk, but post the merger MMI is number one with a 26% market share.
08-Apr-2013
(Permanent)
All figures subsequent to June 2011 represent full results of both Metropolitan and Momentum. June 2011 figures reflect Metropolitan results for 7 months and Momentum results for 12 months ended 30 June 2011. The December 2009 figures reflects the results for Metropolitan Holdings Ltd. before the merger with MMI Group Ltd. (previously Momentum Group Ltd.).
22-Mar-2013
(Media Comment)
The Financial Mail quoted MMI CE Nicolaas Kruger as saying that the merger process between Momentum and Metroplitan is effectively complete. Kruger added that there have been cumulative savings of R256 million through the merger. Nevertheless, MMI continues to operate in a decentralised manner, with Momentum working out of Cape Town and Momentum out of Centurion as the new entity did not force anyone to move to a single head office location.
06-Mar-2013
(Official Notice)
MMI released its interim results today for the six months to 31 December 2012, showing strong growth in core headline earnings of 16% to R1 501 million. The group declared an interim dividend of 51 cents per share, representing a 16% increase compared to the previous half year.



MMI remains on a growth path, with its embedded value having increased to R33.4 billion and having delivered an annualised return on embedded value of 20% over the six months. The return on embedded value was boosted by strong operating performance across the group, as well as the positive impact of the growth in the investment markets during the six months.



MMI is on track with meeting the R500 million annual merger-savings target, having thus far realised merger savings of R256 million.



MMI divisions continue to focus on acquiring good quality new business. The value of new business increased by 18% to R340 million, supported by an improvement in the overall new business margin from 1.9% to 2.0%. This was achieved in challenging market conditions, characterised by weak economic growth, declining employment numbers and labour unrest.



MMI has earmarked R500 million for further investments in the 12 African countries outside South Africa where it already has a presence. MMI's capital buffer remained at a healthy R3.8 billion at 31 December 2012.



MMI is in the process of applying for the amalgamation of its main long-term insurance licences, Momentum Group and Metropolitan Life, into MMI Group. This application process is due to be finalised in May 2013 and will add further efficiencies to the group's operating model.
06-Mar-2013
(C)
Net insurance premiums received grew to R12.6 billion (R9.6 billion). Earnings attributable to owners shot up to R1.5 billion (R805 million). Furthermore, headline earnings per share increased to 91 cents per share (54 cents per share).



Dividend

Ordinary shares

On 5 March 2013 a gross interim dividend of 51 cents per ordinary share was declared,



Preference share

Dividends of R22.6 million (132 cents per share p.a.) were declared on the unlisted A3 MMI preference shares.



Prospects

*The strategic focus of the MMI group has shifted from integration to growth initiatives.

*Each division has implemented plans and processes to identify and optimise structures, operations, target markets, distribution channels and product offerings.

*Growth in new business volumes will, however, remain dependent on the economic environment, including a recovery in employment and stronger disposable income levels.

*Ongoing uncertainties from local labour and the Eurozone could have a negative impact on business confidence in the markets where we operate.

*The board of MMI Holdings believes that the group has appropriate strategies to unlock value and generate a satisfactory return on capital for shareholders over time.
27-Feb-2013
(Official Notice)
MMI will be releasing interim results for the six months ended 31 December 2012 on 6 March 2013.



Shareholders were advised that the group's statutory diluted earnings per share and diluted headline earnings per share are expected to be between 85 and 100 cents per share for the six month period, an increase of between 60 and 80 percent on the comparative results. Diluted core headline earnings will be between 90 and 100 cents per share, an increase of between 10 and 20 percent.



Core headline earnings are a measure of performance used by MMI in addition to earnings and headline earnings. Core headline earnings are regarded by the directors of MMI as an appropriate measure of longer-term operational performance, given that items of both a once-off and an inherently volatile nature are eliminated. These include changes to the valuation basis, investment variances, fair value movements on shareholder assets, secondary tax on companies and the amortisation of any intangible assets recognised due to business combinations.
27-Nov-2012
(Official Notice)
Shareholders are notified that Mr John Newbury retired from the board at MMI's annual general meeting that was held on 26 November 2012. Ms Ngao Motsei, group executive: strategic human resources at MMI, has been appointed as an executive director on the MMI board with effect from 26 November 2012.
26-Nov-2012
(Official Notice)
Shareholders were advised that all ordinary and special resolutions set out in the Notice of the AGM dated 1 November 2012, were duly passed by the requisite majority of MMI shareholders at the AGM held in Centurion today, 26 November 2012.
26-Nov-2012
(Official Notice)
MMI released their trading update for the three months ended 30 September 2012. Group overview and operational highlights include:

* The current economic environment in which the group operates remained difficult.

* Total new business APE increased by 13% compared with the same quarter in the prior year, reflecting the strength of the diverse distribution channels and the comprehensive product offerings in the group.

* Increased competitive forces and the mix of new business continue to dampen the overall new business margins.

* Investment markets, while still volatile, remained strong for the quarter under review.

* Good progress has been made with the Solvency Assessment and Management project (SAM).

* The group has strengthened the internal resources and is building new system capabilities in the short-term insurance operation.

* Expense management and merger efficiencies remain one of the top priorities over the short-to-medium term.

* The integration is on schedule and merger-related expense- savings are being realised.
01-Nov-2012
(Official Notice)
Posting of notice of Annual General Meeting (AGM) Shareholders are advised that MMI has posted its notice of AGM, for the year ended 30 June 2012, to shareholders. The AGM will be held at 14:00 on Monday, 26 November 2012, in the Executive Boardroom, 1st Floor, 268 West Avenue, Centurion. Registration for attendance at the AGM will commence at 13:00. The notice of AGM is also available on the company's website at www.mmiholdings.com.
22-Oct-2012
(Media Comment)
According to Business Day, MMI CEO Nicolaas Kruger said that the group is looking to expand business locally and beyond. The company's board has approved spending of up to R500 million on new growth prospects outside South Africa. The group received regulatory authorisation of its 50% acquisition in Momentum Short-Term Insurance. Furthermore, the probability of entering the Indian market was greater since the Indian government is now permitting foreign companies to own a maximum of 49% of a financial services company. Mr Kruger added that the group will primarily focus on investing in the 12 African markets outside South Africa Metropolitan International already operates.
08-Oct-2012
(Official Notice)
Shareholders were advised that the group's Annual Financial Statements for the year ended 30 June 2012, as contained in the Integrated Report, were posted to shareholders on 28 September 2012. There were no changes to the audited group condensed results released on SENS on 12 September 2011.



The annual financial statements have been audited by the company's auditors, PricewaterhouseCoopers Inc., and their unqualified audit report is available for inspection at the registered offices of MMI.



The full Annual Financial Statements, contained in the Integrated Report, are also available on the company's website at www.mmiholdings.com. MMI will be posting its notice of annual general meeting in due course.
12-Sep-2012
(C)
Net insurance premiums received increased to R18.7 billion (2011: R15 billion). Operating profit also went up to R4.5 billion (2011:3.7 billion). Net attributable profit to owners of the company rose to R2.3 billion (2011: 1.6 billion). In addition, headline earnings per share were higher at 142cps (2011: 128cps).



Dividends

The board declared a final gross ordinary dividend of 69cps and a special dividend of 65cps.



Annual General Meeting

The next annual general meeting will be held at 14:00 on Monday, 26 November 2012 at 268 West Street, Centurion. All shareholders are welcome to attend.



Prospects

*Each division has implemented strategic plans and integration processes to identify and optimise structures, operations, target markets, distribution channels and product offerings.

*Growth in new business volumes will, however, be influenced by the economic environment, including a recovery in employment and stronger disposable income levels.

*All divisions face opportunities and threats posed by ongoing changes in the highly regulated environments in which they operate, including the national health insurance and national social security reform proposals.

*Ongoing uncertainties from the Eurozone crisis could continue to have a negative impact on business and consumer confidence.

*The board of MMI Holdings believes that the group has appropriate strategies in place to unlock value and generate a satisfactory return on capital for shareholders over time.
17-Aug-2012
(Official Notice)
Shareholders were notified that Mr M Mthombeni, current CEO of Momentum Investments, has resigned as a director of MMI with effect from 31 August 2012 in order to take a personal sabbatical. Mr Mthombeni has also resigned from Momentum Group Ltd., Metropolitan Life Ltd., Momentum Investments Ltd. and various other smaller subsidiary companies of MMI.



Mr Wilhelm van Zyl, MMI's Group Deputy CEO, will assume the role of CEO at Momentum Investments from 1 September 2012. Momentum Investments is one of four MMI operating divisions that have been reporting to van Zyl since the merger of Metropolitan and Momentum in December 2010. While van Zyl will retain his other responsibilities, his primary focus will be on Momentum Investments.
23-Jul-2012
(Official Notice)
MMI shareholders are referred to the terms announcement dated 6 July 2012 wherein shareholders were advised of the price per share in respect of the Offers. The results of the Offers are as follows:

* 41 715 shares were sold;

* 44 868 were retained; and

* no election was made in respect of 78 382 shares which were deemed to have been sold.

* In addition, shareholders holding 208 434 shares accepted the Voluntary Repurchase Offer and elected to sell their shares.



The issued share capital of the company, including preference shares, as of the implementation date, 23 July 2012, has therefore been reduced by 328 531 shares to 1 604 184 839 shares.
20-Jul-2012
(Official Notice)
Shareholders of the company are referred to the announcement published by the company on 2 July 2012 regarding the acquisition by Metropolitan Life Namibia Ltd. ("Metropolitan Life Namibia"), a subsidiary of the company, of Momentum Group Ltd.'s ("Momentum") 49 percent shareholding in Momentum Life Assurance Namibia Ltd. ("the transaction").



Fairness opinion

In terms of paragraph 10.7(b) of the Listings Requirements of the JSE Ltd. ("JSE Listings Requirements"), the company was required to provide the JSE Ltd. ("JSE") with written confirmation from an independent expert acceptable to the JSE, that the terms of the transaction with Momentum are fair as far as the shareholders of the company are concerned. On 28 June 2012, the JSE approved the appointment of Deloitte - Touche to furnish an independent fairness opinion to the company for purposes of the transaction ("fairness opinion").



On 19 July 2012 the company received the fairness opinion which confirms that the terms of the transaction with Momentum are fair as far as the shareholders of the company are concerned. The JSE has also accepted the fairness opinion.



The fairness opinion will lie open for inspection for a period of 28 days from the date of this announcement at the company's registered office at 268 West Avenue, Centurion, Gauteng, 0157.
09-Jul-2012
(Media Comment)
MMI has satisfied all conditions required to revamp its broad-based black economic empowerment (BEE) holding, according to Business Report. This development raises Kagiso Tiso Holdings' (''Kagiso Tiso'') interest to 7 percent. Kagiso Tiso and Metropolitan Empowerment Trust had a combined interest of about 8.2 percent of MMI's total issued ordinary shares. The withdrawal of Metropolitan Empowerment Trust from the BEE structure resulted in the diminishing of beneficial BEE holding in the company although Kagiso Tiso's effective interest rose. The group restructuring would refinance Kagiso Tiso's shareholding in MMI and enhance the lock-in restrictions imposed on Kagiso Tiso's shareholding. Kagiso Tiso will hold 79 million ordinary share and 34 million A3 preference shares.
06-Jul-2012
(Official Notice)
Shareholders of the company are referred to the announcement published by the company on 5 June 2012 regarding the acquisition by Momentum Group Ltd. ("Momentum"), a wholly-owned subsidiary of the company, of OUTsurance Holdings Ltd.'s ("OUTsurance") 50 percent shareholding in Momentum Short-term Insurance Company Ltd. ("the transaction").



Fairness opinion

In terms of paragraph 10.7(b) of the Listings Requirements of the JSE Ltd. ("JSE Listings Requirements"), the company was required to provide the JSE Ltd. ("JSE") with written confirmation from an independent expert acceptable to the JSE, that the terms of the transaction with OUTsurance, being a related party of the company, are fair as far as the shareholders of the company are concerned. On 7 June 2012, the JSE approved the appointment of Deloitte - Touche to furnish an independent fairness opinion to the company for purposes of the transaction ("fairness opinion").



On 5 July 2012 the company received the fairness opinion which confirms that the terms of the transaction with OUTsurance are fair as far as the shareholders of the company are concerned. The JSE has also accepted the fairness opinion. The fairness opinion will lie open for inspection for a period of 28 days from the date of this announcement at the company's registered office at 268 West Avenue, Centurion, Gauteng, 0157.
06-Jul-2012
(Official Notice)
02-Jul-2012
(Official Notice)
21-Jun-2012
(Official Notice)
Shareholders of MMI were advised that FNB Namibia and Metropolitan Life Namibia Ltd. (''Metropolitan Life Namibia''), a subsidiary of MMI, have entered into a binding sale of shares agreement (''agreement'') in terms of which FNB Namibia will dispose of its 51% shareholding in Momentum Life Assurance Namibia Ltd (''Momentum Namibia'') to Metropolitan Life Namibia (the ''transaction''). Momentum Namibia conducts business as a registered long-term insurer in Namibia.



The Transaction

Rationale

Following the unbundling of Momentum Group Limited out of the FirstRand Group in South Africa, FNB Namibia took a strategic decision to disinvest its stake in Momentum Namibia. FNB Namibia will, however, continue to offer its clients long term insurance products through a banc-assurance arrangement with Metropolitan Life Namibia.



The consolidation of MMI's insurance operations in Namibia will lead to improved efficiencies and is in line with international practices for insurance groups and financial conglomerates. MMI is excited about the growth opportunities in Namibia and the transaction creates a platform to grow its presence in the country.



Terms of the transaction

In terms of the transaction, FNB Namibia will dispose of its 51% shareholding in Momentum Namibia to Metropolitan Life Namibia. The transaction has been approved by the relevant authorities and will be effective from 1 July 2012. The transaction is not subject to any suspensive conditions.



Purchase price

The purchase price payable by Metropolitan Life Namibia to FNB Namibia in a in terms of the agreement is N$371 003 319 of which N$28 600 000 will remain outstanding as a vendor loan, which will be settled out of certain specifically determined proceeds of the banc- assurance business conducted by Momentum Life Namibia. The purchase price will be funded through Metropolitan International, a wholly-owned subsidiary of MMI, subscribing for 8 073 818 shares in Metropolitan Life Namibia for a total subscription consideration of N$350 000 000.
18-Jun-2012
(Official Notice)
Shareholders were advised that, at the general meeting held on Monday, 18 June 2012, the special resolution to amend the terms of the A3 MMI preference shares in order to facilitate the restructuring of the existing BEE transaction was approved by the requisite majority of shareholders of MMI.



Odd-lot offer and voluntary repurchase offer (the "offers")

Shareholders are further advised that the necessary special resolution relating to the offers and the ordinary resolutions to make and implement the offers were approved by the requisite majority at the same general meeting of shareholders. The special resolutions will be lodged with the Companies and Intellectual Property Commission office. Further announcements relating to the fulfilment of conditions precedent, the finalisation of offer price and the results of the Offers will be made on the relevant dates as previously announced on 18 May 2012.



Dividends tax

As advised in the previous announcement released on SENS on 18 May 2012, the offers will be subject to the withholding of dividends tax at a rate of 15% in respect of those shareholders (i.e. beneficial owners) who are not exempt from dividends tax. There are no secondary tax on companies credits to be utilised for the offers.
06-Jun-2012
(Media Comment)
MMI's acquisition of MSTI strategically supported its plan to grow organically and acquisitively, according to Business Day. MMI CEO Nicolaas Kruger was quoted saying that MMI wanted to cement its influence in the short-term insurance market whose annual premium income exceeds R55 billion. He added that MSTI planned to inquire into short-term opportunities in Africa as the present short-term insurance business in Tanzania was performing well. Brand Pretorius, CEO of MSTI, was positive about the company's future, saying that the business had ''great potential'' and had been profitable since inception.
05-Jun-2012
(Official Notice)
31-May-2012
(Official Notice)
18-May-2012
(Official Notice)
Mr L Crouse has been appointed as a non-executive director on the MMI board with effect from 18 May 2012. He has also been appointed on the boards of Momentum Group Ltd. and Metropolitan Life Ltd., both subsidiary companies of MMI.
18-May-2012
(Official Notice)
02-May-2012
(Official Notice)
It is with great sadness that the MMI Holdings board announced the death of Mr Thys Visser, a non-executive director on its board. Mr Visser passed away following a car accident on 26 April 2012.
29-Mar-2012
(Media Comment)
Business Day reported that Fitch affirmed MMI's long-term debt rating as A+ with stable outcome. Fitch also affirmed MMI subsidiaries Momentum and Metropolitan Life's insurer financial strength rating as AA with stable outlook.
06-Mar-2012
(Official Notice)
MMI Holdings Ltd., the diversified financial services group that includes Metropolitan and Momentum, today released a solid set of half-year results to December 2011, with core headline earnings increasing by 4% to R1 294 million as compared to the previous half-year to December 2010, under tough operating conditions.



The 4% increase in core headline earnings was largely underpinned by good performance from Metropolitan Retail and Metropolitan Health. The group's new business annual premium equivalent (APE) decreased by 3% to R2.9 billion. The value of new business amounted to R311 million for the six months ended 31 December 2011. MMI's overall new business margin reduced from 1.6% for the six months ended 31 December 2010 to 1.5% for the six months ended 31 December 2011. This margin is however higher than the overall new business margin of 1.4% for the 12 months ended 30 June 2011.



The group has reviewed the investment mandates for its shareholder capital. This has resulted in a lower-risk investment strategy being implemented for Metropolitan Life?s shareholder capital. This change reduced the amount of capital required and ensured a strong capital position. The group's embedded value sits at R30.8 billion or R19.20 per share as at 31 December 2011, representing an annualised return on embedded value of 7.1%.

06-Mar-2012
(C)
Net income decreased to R23.9 billion (R24.7 billion). Net attributable profit was down to R805 million (R1.1 billion) and headline earnings on a per share basis came in at 54cps (105cps).



Dividend

An interim ordinary dividend of 44cps has been declared.



Prospects

*Each division has implemented strategic plans and integration processes to identify and optimise structures, operations, target markets, distribution channels and product offerings.

*Growth in new business volumes will, however, remain dependent on the economic environment, including a recovery in employment and stronger disposable income levels.

*All divisions face opportunities and threats posed by ongoing changes in the highly regulated environments in which they operate, including the national health insurance and national social security reform proposals.

*Ongoing uncertainties from the eurozone crisis could continue to have a negative impact on business confidence in the markets where we operate.

*The board of MMI Holdings believes that the group has appropriate strategies to unlock value and generate a satisfactory return on capital for shareholders over time.
29-Feb-2012
(Official Notice)
MMI, created on 1 December 2010 as a result of a merger between Metropolitan and Momentum, will be releasing interim results for the six months ended 31 December 2011 on 6 March 2012. Shareholders are advised that the group's diluted core headline earnings will be between 78 and 83 cents per share, an increase on the restated prior period comparative of 77 cents per share (as per the segmental information). The segmental information assumes that the merger took place on 1 July 2009 and as such the two interim reporting periods are comparable.



Core headline earnings are a measure of performance used by MMI in addition to earnings and headline earnings. Core headline earnings are regarded by the directors of MMI as an appropriate measure of longer-term operational performance, given that items of both a once-off and an inherently volatile nature are eliminated. These include changes to the valuation basis, investment variances, fair value movements on shareholder assets, secondary tax on companies and the amortisation of any intangible assets recognised due to business combinations.



The statutory diluted earnings per share and diluted headline earnings per share are expected to be between 50 and 60 cents per share for the six month period. This is after taking into account a R257 million amortisation charge for the intangibles created during the merger and a transfer to actuarial reserves as a result of changes in the economic assumptions used in the financial soundness valuation. The comparative statutory figures for 2010 comprise six months' results from Momentum and one month's results from Metropolitan, while the current period includes six months from all operations. The comparative statutory figures therefore do not provide meaningful comparisons. New business written by the group during the six month period, measured on both the annual premium equivalent and the present value of premiums basis, ended marginally below the comparative levels recorded during 2010, reflecting the difficult operating conditions experienced by the group.
24-Nov-2011
(Official Notice)
In compliance with Section 3.59 of the Listing Requirements of the JSE Limited, shareholders are hereby notified that Mr LL Dippenaar, in his capacity as chairman and non-executive director, and Mr PK Harris, a non-executive director, have resigned with effect from 22 November 2011.



Shareholders are further notified that Mr MJN Njeke, deputy chairman since 1 December 2010, has been elected as chairman and Mr JP Burger as deputy chairman of MMI with effect from 22 November 2011. Prof JD Krige and Mr MH Visser have been appointed as non-executive directors and Mr V Nkonyeni as the Kagiso Tiso Holdings representative on the MMI board with effect from 22 November 2011. The abovementioned changes are also applicable to Momentum Group Ltd and Metropolitan Life Ltd, both subsidiary companies of MMI.

23-Nov-2011
(Official Notice)
Group overview and operational highlights for the the three month period ending 30 September 2011:

*Consumer spending remained under pressure, with a national unemployment level of 25%.

*Equity markets contracted significantly during the period under review, compounded by a general European debt crisis.

*The strong recovery in October is welcomed; however, the market volatility and uncertainty continues to have an impact on a number of areas of the business.

*The strategies and operational objectives for 2012 have all been finalised and management's focus is now on the implementation and delivery thereof.

*Expense management remains a top priority across the group as evidenced by further head-count reductions in almost all divisions as well as through streamlining of systems and processes.

*All merger and integration projects remain on track.

*Overall the group is managing the various environmental challenges, with further details set out per division.
22-Nov-2011
(Official Notice)
Shareholders were advised that at the AGM of the members of MMI held in Bellville, Cape Town on Tuesday, 22 November 2011, all the ordinary and special resolutions set out in the notice of the AGM were passed by the requisite majority of shareholders.
02-Nov-2011
(Official Notice)
Mr Kgomotso Matseke has resigned as a non-executive director of MMI with effect from 31 October 2011. Mr Matseke has also resigned from Momentum Group Ltd and Metropolitan Life Ltd, both subsidiary companies of MMI.
28-Oct-2011
(Official Notice)
Shareholders were advised that the group's annual financial statements for the year ended 30 June 2011, as contained in the integrated report, have been posted to shareholders on 28 October 2011. There were no changes to the audited group condensed results released on SENS on 14 September 2011.



Notice of AGM

Shareholders were further advised that the annual general meeting of the company will be held on Tuesday, 22 November 2011 at 14:00 in the executive boardroom at Parc du Cap 7, Mispel Road, Bellville, Cape Town. The notice of the AGM is contained in the integrated report posted to shareholders on 28 October 2011. The full annual financial statements, integrated report and notice of annual general meeting are available on the company's website at www.mmiholdings.com.
21-Oct-2011
(Official Notice)
MMI announced the appointment of Mark van der Watt as the new CEO of Momentum Retail, one of the group's six operating divisions. Mark van der Watt replaces Johann Le Roux who has been the CEO of Momentum Retail for the past three years. Mark van der Watt's appointment is effective from 1 January 2012.
19-Sep-2011
(Media Comment)
The Sunday Times Business Times wrote that cash rich insurer MMI is finding it difficult to spot attractive acquisitions outside of South Africa. CEO Nicolaas Kruger said in an interview that the focus will be on "optimising synergies" in the newly merged company and there was a lot to be done in the twelve regions in which MMI operates. Kruger went on to say that the Africa focus is strategically very important and that outside of South Africa, Africa is the first area of focus.
15-Sep-2011
(Permanent)
The statutory results presented for the current period comprise Momentum for the 6 months ended 31 December 2012 and Metropolitan for the 6 months ended 31 December 2012.



The June 2012 results comprise Momentum for the 12 months ended 30 June 2012 and Metropolitan for the 12 months ended 30 June 2012.



The June 2011 results are MMI's first final results following the merger of Momentum and Metropolitan and subsequent change in year-end. The 2011 results only reflect the Metropolitan results for 7 months and the Momentum results for 12 months ended 30 June 2011 and are therefore not comparable to the published December 2009 or prior results.
14-Sep-2011
(C)
These are MMI's first final results following the merger of Momentum and Metropolitan and subsequent change in year-end and are therefore not comparable to the published June 2010 results. Net insurance premium received amounted to R15 billion and net income was at R44.8 billion. Operating profit was recorded at R3.7 billion, while net profit attributable to ordinary shareholders was at R1.6 billion. Furthermore, headline earnings per share was recorded at 130cps.



Dividend

An ordinary dividend of 63cps has been declared.



Prospects

Growth in new business volumes will, however, remain dependent on the economic environment, including a recovery in employment and stronger disposable income levels. All divisions face opportunities and threats posed by ongoing changes in the highly regulated environments in which they operate, including the national health insurance and national social security reform proposals. Considering the fragile global economic environment, the prospects are subject to no unforeseen global economic events. The board of MMI Holdings believes that the group has begun implementing the appropriate strategies to unlock value and generate a satisfactory return on capital for shareholders over time.
26-May-2011
(Official Notice)
Trading update for the nine months ended 31 March 2011:



Merger update

*All management reporting is currently prepared on a segmental basis using the abovementioned divisions.

*The operating structures in each division have been finalised, the executive teams have been appointed and certain systems integration projects are already in progress.

*The branding strategy was finalised and published during April 2011.

*The strategic plans for each division have been presented to the MMI board, and are in the process of being implemented.



Group overview and operational highlights

*New business continued to grow, reflecting the comprehensive product offering and strong distribution capabilities across the group.

*Investment markets, while still volatile, remained relatively strong for the last quarter of the period under review.

*Expense management remains a top priority.
06-May-2011
(Official Notice)
Shareholders were notified that the registered office of MMI has changed from Parc du Cap, Mispel Road, Bellville to 268 West Avenue, Centurion.
06-May-2011
(Media Comment)
According to Business Day, MMI is exploring new business opportunities in Africa and India as part of the group's strategy to increase revenue from its international operations. CEO Nicolaas Kruger said in an interview that the life assuror would use the combined balance sheet of the two companies that merged to form MMI to grow outside South Africa, with a primary focus on sub-Saharan Africa.
26-Nov-2010
(Permanent)
The 2011 results only reflect the Metropolitan results for 7 months and the Momentum results for 12 months ended 30 June 2011.
01-Apr-2011
(Official Notice)
Shareholders were notified that Mr Francois Derek Jooste has been appointed as group company secretary of MMI with effect from 1 April 2011. Mr Jooste is replacing Ms Rweqana, who was acting company secretary of MMI.
09-Mar-2011
(C)
Net income amounted to R24.4 billion for MMI's maiden interim results as a merged entity. Net attributable profit was R1.1 billion and headline earnings on a per share basis came in at 105cps.





Dividend

An interim ordinary dividend of 42cps has been declared, as well as a special dividend of 21cps.



Outlook

Each business unit has embarked on a detailed strategic planning and integration process to identify and optimise structures, operations, target markets, distribution channels and product offerings. A number of opportunities have been identified during the integration process currently underway. Merger synergies are expected to start flowing through during the second half of the 2011 calendar year.



The group reported satisfactory increases for both the volumes and the value of new business written during the six months. This demonstrates the group's strong distribution capability and augurs well for future new business growth prospects.



Growth in new business volumes will, however, remain dependent on the economic environment, including a recovery in employment and disposable income levels. Africa, although a complex market, remains largely untapped and provides a number of opportunities for the group throughout its footprint in 12 countries outside of South Africa.



All business units face opportunities and threats posed by ongoing changes in the highly regulated environments in which they operate, including the national health insurance and national social security reform proposals. The board of MMI believes that the group has begun implementing the appropriate strategies to unlock value and generate a satisfactory return on capital for shareholders over time.
09-Mar-2011
(Permanent)
Following the merger of Metropolitan Holdings Ltd and Momentum Group Ltd, the newly created entity, MMI, will have its year-end at 30 June every year going forward.
03-Mar-2011
(Official Notice)
MMI's interim results for the period ended 31 December 2010 will be released on 9 March 2011. MMI (previously Metropolitan Holdings Ltd) acquired all the ordinary shares in Momentum Group Ltd (Momentum) from FirstRand Ltd (FirstRand) and issued 951 million shares to FirstRand on 1 December 2010. For accounting purposes the transaction is regarded as a reverse acquisition: Momentum is treated as the acquirer and Metropolitan Holdings Limited (Metropolitan) the acquiree, while Momentum's year-end (30 June) has been adopted by the group.



The statutory interim results for MMI will therefore contain Momentum`s results for the six months ended 31 December 2010 plus one month for Metropolitan (December 2010). For earnings per share calculations, the results for the period will be divided by the weighted average MMI shares in issue, being 1 055 million on a diluted basis. Shareholders are therefore advised that the group's statutory diluted earnings per share and diluted headline earnings per share are expected to be between 95 and 115 cents per share for the period ended 31 December 2010, while the statutory diluted core headline earnings per share will be between 70 and 80 cents per share.



Core headline earnings are a measure of performance used by MMI in addition to earnings and headline earnings as they are regarded by the directors of MMI as an appropriate measure of longer term operational performance. Core headline earnings eliminate items of both a once-off and an inherently volatile nature, including changes to the valuation basis, investment variances, fair value movements on shareholder assets and the amortisation of any intangible assets recognised due to business combinations. The forecast financial information on which this trading statement is based has not been reviewed and reported on by MMI`s external auditors.

31-Jan-2011
(Official Notice)
The board of directors of MMI has decided to withdraw the appeal, lodged at the Competition Appeal Court, regarding employment-related conditions imposed by the Competition Tribunal of South Africa on the merger of Metropolitan and Momentum. According to Nicolaas Kruger, group chief executive, the apparent merits of pursuing an appeal were not the only relevant consideration for the group. A lengthy appeal process in particular would have been of doubtful benefit. MMI believes that it will be more prudent for them to focus on the integration and associated restructuring of Metropolitan and Momentum, within the ambit of the tribunal's conditions as clarified, which provide sufficient scope to achieve the synergies underpinning the business case for the merger, albeit over a slightly longer timeframe.
30 Dec 2010 08:30:57
(Media Comment)
According to Business Day, MMI, created out of the complex merger of Metropolitan and Momentum, is pondering its options concerning layoffs. The Competition Tribunal ruled at the time of the merger that the new entity should not retrench rank-and-file staff for at least two years. MMI's legal advisers are now going to make recommendations to the board on this ruling. However, an insurance analyst close to MMI said the company has limited options and will in the end decide to let the issue go rather than enter into a protracted legal battle.
29-Nov-2010
(Permanent)
The financial statements for MMI HLDNGS for 31 December 2009 and all prior financial statements only reflect results for Metropolitan Holdings Ltd before the merger and renaming with Momentum Group Ltd.
29 Nov 2010 08:32:37
(Media Comment)
Business Report stated that, with less than 48 hours before it is due to be listed on the JSE, MMI Holdings has still to get clarity from the Competition Tribunal on the full implications of the tribunal's two-year restriction on retrenchments at the entity after the merger of Metropolitan and Momentum. It appears the parties are clear on the meaning of retrenchment. Last month the tribunal approved the merger on condition that the merged entity, MMI Holdings, ensured that there would be no retrenchments for two years after the merger implementation date. The restriction on retrenchment did not apply to "senior management".
26-Nov-2010
(Permanent)
Metropolitan Holdings Ltd was renamed to MMI Holdings Ltd on Monday, 29 November 2010.
18 Nov 2010 15:48:46
(Official Notice)
12 Nov 2010 14:33:00
(Official Notice)
Shareholders were referred to the announcement released on SENS on Friday, 12 November 2010) advising them that all of the suspensive conditions relating to the merger of Metropolitan and Momentum Group Ltd (the "merger") and the subsequent unbundling by FirstRand Ltd of its entire shareholding in Metropolitan to its ordinary shareholders (the "unbundling") had been fulfilled. Accordingly, as approved by shareholders on 28 September 2010, Metropolitan's name will be changed to MMI Holdings Ltd with effect from 29 November 2010. Shareholders were advised that a change of name circular containing a form of surrender will be posted to holders of certificated shares only. Holders of dematerialised shares do not need to take any action as their shareholding will be automatically updated by their CSDP or broker.



Salient dates

* Circular posted to certificated shareholders on Monday, 15 November

* Last day to trade in the name of Metropolitan on Friday, 26 November

* Change of name effective from commencement of trading under the JSE Code MMI, NSX Code MIM, ISIN ZAE000149902 and abbreviated name MMI Hldgs on Monday, 29 November

* List and trade replacement shares in the new name from commencement of trading on Monday, 29 November

* Record date on Friday, 3 December.
12 Nov 2010 10:45:59
(Official Notice)
10 Nov 2010 16:36:39
(Official Notice)
Trading update for the nine months ended 30 September 2010

* The merger between Metropolitan and Momentum is expected to be implemented during the fourth quarter of 2010, and all future reporting will cover the new MMI Holdings group.



Group overview and operational highlights

* Investment markets, while still volatile, have steadily recovered throughout the year.

* Total recurring premium income for the nine-month period was slightly greater that that recorded in the previous year.

* A decrease in the new recurring premium business over the period, when adjusted for discontinued operations, reflects the tough trading conditions in all the life insurance businesses.

* Despite the economic downturn, ongoing strikes and post World Cup depression, the persistency of the group`s policyholder base has remained resilient.

* Expense management has remained well under control, with life insurance administration expenses being contained below the 2009 levels.

* The corporate business secured a number of profitable annuity and administration contracts.

* Metropolitan International continued to make satisfactory progress in its African operations.

* All service levels were maintained at above contracted levels at Metropolitan Health Group (MHG).

* Net cash received from clients to date was R1.9 billion (June 2009: R1.2 bn) and we expect to end the year in a positive cash position.

01 Nov 2010 08:05:19
(Official Notice)
Shareholders of FirstRand and Metropolitan are referred to the announcement released on SENS on 28 September 2010 wherein shareholders were advised that all the resolutions required to implement the merger of Metropolitan and Momentum (the "merger") and the subsequent unbundling by FirstRand of its entire holding of shares in Metropolitan (the "unbundling") had been approved by Metropolitan and FirstRand shareholders, respectively. The merger and the unbundling are collectively hereinafter referred to as the "transaction".



Shareholders of FirstRand and Metropolitan are advised that certain procedural conditions precedent have not yet been fulfilled as some outstanding regulatory matters must still be finalised. Accordingly, FirstRand, Metropolitan and Momentum have agreed to extend the date for the fulfilment of the conditions precedent to 30 November 2010, whereafter a further announcement will be released.
28 Sep 2010 14:01:56
(Official Notice)
23 Sep 2010 09:11:01
(Official Notice)
Shareholders were notified that Mrs Joyce Matlala had resigned as a non- executive director of Metropolitan with effect from 30 September 2010. Mr Kgomotso Matseke, the chief executive officer of Kagiso Trust Investments ("KTI"), has been appointed as the KTI representative on the Metropolitan board with effect from 1 October 2010. As a direct consequence Mr Matseke will also replace Mrs Matlala as a Metropolitan nominee for appointment to the proposed MMI Holdings Ltd board. Mr Marius Smith, an independent non-executive director, is retiring from the Metropolitan board with effect from 30 September 2010.
22 Sep 2010 13:12:17
(Official Notice)
01 Sep 2010 09:06:36
(Official Notice)
01 Sep 2010 08:58:21
(C)
Net income decreased to R6.8 billion (R7.1 billion), however net attributable profit increased to R218 million (R186 million). Headline earnings fell to 42cps (43cps).



Dividend

An interim dividend of 42 cents per ordinary share has been declared.



Prospects

The board is satisfied that the businesses remain strategically well positioned, with a strong focus on client service, product innovation, business retention, cost containment, diversification and capital management. The proposed merger between Metropolitan and Momentum will result in a significantly transformed, large and highly competitive financial services group in South Africa, with a material black empowerment shareholding.

26 Aug 2010 12:52:52
(Official Notice)
02 Aug 2010 17:39:02
(Official Notice)
Further to the joint cautionary announcements released on SENS on 31 March 2010, 17 May 2010 and 15 June 2010 regarding the proposed merger of Metropolitan and Momentum, shareholders of FirstRand Ltd ("FirstRand") and Metropolitan are advised that discussions relating to the merger have not yet been finalised. Shareholders are accordingly advised to continue exercising caution when dealing in FirstRand and Metropolitan shares until a further announcement is made.
15 Jun 2010 12:03:39
(Official Notice)
Shareholders are referred to the cautionary announcements dated 31 March 2010 and 17 May 2010 wherein shareholders of FirstRand and Metropolitan were advised of the proposed merger and that the due diligence investigations and regulatory approval processes were still underway. The due diligence investigation and negotiations are progressing well and will be completed shortly following which an announcement containing further details about the proposed merger will be released. Shareholders are accordingly advised to continue to exercise caution when dealing in FirstRand and Metropolitan shares until the aforementioned announcement is made.
08 Jun 2010 08:50:15
(Media Comment)
According to Business Day, Metropolitan wants to earn at least 25% of the company's annual revenues from international operations within five years. The group will focus in 2010 on consolidating its operations in Ghana and Nigeria and the impending merger with Momentum.
26 May 2010 12:30:42
(Official Notice)
Shareholders are advised that at the AGM of the members of Metropolitan held in Bellville, Cape Town on Tuesday, 25 May 2010, all the resolutions set out in the notice of the AGM were passed by the requisite majority of shareholders. The special resolution to repurchase the company's shares will be lodged for registration with the Companies and Intellectual Property Registration Office in due course.
25 May 2010 14:23:37
(Official Notice)
17 May 2010 09:10:57
(Official Notice)
Shareholders are referred to the cautionary announcement released on SENS on 31 March 2010 and in the press on 1 April 2010 wherein shareholders of FirstRand and Metropolitan were advised that FirstRand, Metropolitan and Momentum have reached an agreement for the merger of Momentum and Metropolitan ("proposed merger"), which transaction may have a material effect on FirstRand and Metropolitan shares. The due diligence investigations and regulatory approval processes are still underway and shareholders are accordingly advised to continue to exercise caution when dealing in FirstRand and Metropolitan shares until further announcements in this regard are made.
14 Apr 2010 11:55:47
(Official Notice)
Shareholders were notified that owing to prolonged illness, Mr Peter Lamprecht is unable to fulfil his duties as a director as stipulated in the companies act and is no longer a director of Metropolitan.
14 Apr 2010 11:35:26
(Official Notice)
The Metropolitan annual report, containing the financial statements of the company for the year ended 31 December 2009, prepared in accordance with International Financial Reporting Standards, was posted to shareholders on 31 March 2010. The annual report is available on the company's website on www.metropolitan.co.za. An abridged annual report will not be published as the information previously published in Metropolitan's audited group results on 9 March 2010 remains unchanged.



The requisite 21 days` notice was given for the ninth Annual General Meeting of Metropolitan shareholders which will be held at 14:00 on Tuesday, 25 May 2010, in the auditorium at Parc du Cap 7, Mispel Road, Bellville, Cape Town, to transact the business as stated in the Notice of AGM. The notice was issued together with the annual report.
12 Apr 2010 17:27:35
(Official Notice)
Ms Zukelwa Rweqana has been appointed as acting group company secretary of Metropolitan with effect from 12 April 2010.
31 Mar 2010 09:13:57
(Official Notice)
10 Mar 2010 09:49:45
(Official Notice)
10 Mar 2010 09:36:08
(C)
Net income for the year ended 31 December 2009 increased from R20 062 million to (2008: R7 388 million). Profit before taxation rose to R1 669 million (2008: -R372 million). Profit attributable to ordinary shareholders increased to R1 129 million (2008: -R319 million). In addition, headline earnings on a per share basis climbed to 225 cps (2008: -53 cps).



Dividend

A final dividend of 60.00 cents per ordinary share was declared.



Prospects

* Metropolitan continues to create prosperity for Africa's people by providing appropriate products that are both accessible and affordable.

* Africa, as a largely untapped market, provides a number of opportunities for the group.

* All the businesses are facing opportunities and threats posed by ongoing changes in the highly regulated environments in which they operate.

* Food and transport inflation, together with rising unemployment, remain the biggest challenges to the group's core target market. Further deterioration in the above factors will reduce new business prospects and possibly challenge the persistency of the in-force book.

* The board is satisfied that the group remains strategically well positioned, thanks to its strong focus on client service, product innovation, business retention, cost containment, diversification and capital management.
24 Feb 2010 11:48:28
(Official Notice)
Investment market values increased significantly over the latter part of the year, resulting in higher overall investment returns and a net capital appreciation on the group's shareholder funds. This contrasts with the mark-to- market losses reported in 2008. Shareholders were advised that the group's diluted earnings per share and diluted headline earnings per share are expected to be between 180 and 200 cents per share, significantly up when compared to losses of 27 and 20 cents respectively per share in 2008. The lower average asset levels experienced during 2009 as compared to 2008, however, will have contributed to a reduction in the diluted core headline earnings per share of between 5% and 10% when compared to the 2008 results. This change is better than that reported for the first half of the financial year.
27 Jan 2010 11:32:05
(Official Notice)
Shareholders are hereby notified that Mr JJ Njeke, acting chairman since March 2009, has unanimously been elected as chairman of Metropolitan with effect from 26 January 2010. Mrs Joyce Matlala, group finance director of Kagiso Trust Investments, has been appointed as a non-executive director on the same date.
09 Dec 2009 08:44:21
(Official Notice)
Shareholders are hereby notified that Mrs Bongiwe Gobodo-Mbomvu has resigned as the group company secretary of Metropolitan with effect from 7 January 2010.
08 Dec 2009 15:46:59
(Official Notice)
Mr Andile Sangqu has resigned as a non-executive director of Metropolitan with effect from 8 December 2009.
11 Nov 2009 12:44:39
(Official Notice)
The group's perspective on the business environment is as follows:



Capital management

*As part of the 2009 interim results communication, the group informed the market that, due to economic and investment market uncertainty, the group had reduced its exposure to equities. *The two main reasons, being financial security and equity market uncertainty, are currently still applicable.

*The group continues to actively monitor the capital position throughout its operations with a view to protecting shareholder capital and preserving policyholder assets during these volatile investment market conditions.

*Dynamic asset allocation, equity protection and other strategies are applied to both shareholder and policyholder investments, when deemed appropriate, in order to ensure that the group maintains adequate capital.

*All capital positions have improved since June 2009, and the group remains appropriately capitalised.



Earnings

*Metropolitan does not provide earnings forecasts or guidance; however, in order to assist investors in these volatile times, the group would like to highlight the following drivers of group profits:

*Investment asset values, while increasing, have remained significantly below the 2008 levels.

*To the extent that we charge asset-based fees, any change in average asset levels affects the operating profits of businesses such as asset management and, to a lesser extent, corporate and retail.

*Any change in the absolute level of and income on shareholder investments has a direct impact on earnings for the year.

*The earnings of life companies are calculated with reference to the discounted value of all future profit charges. Any change in the underlying discount rate affects the earnings of a life company.
03 Nov 2009 14:13:49
(Official Notice)
Mrs Mary Vilakazi has been appointed as a non-executive director of Metropolitan with effect from 2 November 2009.
02 Sep 2009 08:22:31
(C)
Net income increased to R7.1 billion (R5.2 billion). Net attributable profit declined to R186 million (R206 million). In addition, headline earnings fell to 43.29cps (45.25cps).



Dividend

An interim dividend of 40 cents per ordinary share has been declared.



Prospects

Metropolitan continues to create prosperity for Africa's people by providing appropriate products that are both accessible and affordable. All the businesses are facing opportunities and threats posed by ongoing changes in the highly regulated environments in which they operate. Food and transport inflation, together with rising unemployment, remain the biggest challenges to the group's core target market. Further deterioration in the above factors could curtail new business prospects and possibly threaten the persistency of the in-force book.



The board is satisfied that the group remains strategically well positioned, thanks to its strong focus on client service, product innovation, business retention, cost containment, diversification and capital management.
26 Aug 2009 13:01:27
(Official Notice)
Shareholders are advised that at the general meeting of Metropolitan held today, all the resolutions set out in the circular were passed by the requisite majority of shareholders being a majority in excess of 99% of shareholders present and entitled to vote. The special resolution will be submitted for registration at the companies and intellectual property registration office in due course.
06 Aug 2009 17:11:06
(Official Notice)
Shareholders are referred to the announcement published by Metropolitan on 1 July 2009 regarding the terms of the proposed third phase of Metropolitan's Black Economic Empowerment Transaction. Shareholders are hereby notified that a circular was posted to shareholders on Tuesday, 4 August 2009 regarding the proposed phase III transaction and that the general meeting will be held on Wednesday, 26 August 2009 at 11:00 in the Auditorium, 7 Parc du Cap, Mispel Road, Bellville, Cape Town.
01 Jul 2009 14:04:51
(Official Notice)
28 May 2009 15:38:11
(Official Notice)
Shareholders are advised that at the annual general meeting of the members of Metropolitan held in Bellville, Cape Town on Tuesday, 26 May 2009, all the resolutions set out in the notice of the annual general were passed by the requisite majority of shareholders.
26 May 2009 14:05:36
(Official Notice)
Group overview

*The major factor continuing to affect the operations of the group remains the potential fallout from a sustained global financial crisis and any resultant reduction in local employment levels combined with reduced disposable income in our client base

*Retail recurring new business grew by 11%, boosted by successes in the personal financial adviser markets

*Persistency experience on ordinary retail business remained good, resulting from pro-active management activity

*Direct marketing production during the period has been good; however, persistency remains an area of concern in the current economic environment

*Diversification within the corporate business continued, with good progress in increasing the administration business

*The higher level of benefit payments in the corporate business, as experienced in 2008, is continuing in 2009

*International businesses grew their single premiums by 150% to R60 million

*Metropolitan Health (MHG) further increased the size of its business while maintaining exceptional levels of service, highlighting the sound underlying business model

*The total lives under administration at MHG reached 2 million in early May 2009

*The asset management team gained positive net inflows despite the investment conditions

*Overall, the group maintained its positive net cashflow at an impressive R3.3 billion

*Capital management and related activities remain a priority

*The global investment, financial and economic markets continue to challenge
19 Mar 2009 09:14:14
(Media Comment)
Metropolitan's problem used to be that it was unable to write profitable business. However, the Financial Mail reported that its margin of 2.4% is now ahead of the 2.2% managed by life officers such as Momentum and Sanlam. It has achieved this with greater volumes. CE Wilhelm van Zyl says the key to servicing clients is to ensure the business is retained, getting the production you need through the distribution channels, and keeping costs under control.
17 Mar 2009 14:58:58
(Official Notice)
Prof Wiseman Nkuhlu has resigned as chairman and non-executive director from the board of Metropolitan with immediate effect. Until such time as the board appoints a new chairman, J J Njeke, a non-executive director of Metropolitan and group managing director of the Kagiso group, has been appointed as acting chairman.
16 Mar 2009 08:58:24
(Media Comment)
According to Finweek, Metropolitan and Sanlam Ltd are the best-placed shares among life insurers. Metropolitan's results suggested that clients in the lower income market, where the group specialises, are determined to hold on to their insurance policies. In addition, Metropolitan has good growth prospects via its southern African businesses.
11 Mar 2009 10:16:34
(C)
Net Income decreased from R17 638 million to R7 468 million in 2008. Profit before Taxation decreased to -R372 million (2007:R2 316 million). Profit attributable to ordinary shareholders decreased to -R319 million (R1 503 million). In addition, headline earnings on a per share basis decreased to -52.78cps (279.89cps).



Dividends per share

A final dividend of 55.0 cps was declared for the period under review.



Prospects

*Metropolitan continues to capitalise on its focused market positioning, in line with its strategy of creating prosperity for Africa's people, by providing accessible, affordable and appropriate products.

*All the businesses within the group are well prepared for the threats and opportunities posed by ongoing changes in the highly regulated environments in which they operate.

*Food, fuel and transport inflation, together with unemployment levels, remains the biggest challenge to our core target market. Any further increases are likely to curtail new business prospects and threaten the persistency of the in-force book.

*The board is satisfied that the business remains strategically well positioned, thanks to management's specific focus on client service, product innovation, business retention, cost containment, diversification and capital management.
20 Feb 2009 16:13:31
(Official Notice)
Metropolitan's results for the year ended 31 December 2008 will be released on 11 March 2009. Despite the severity of the market conditions during 2008 and the associated lower average asset levels, the Metropolitan group achieved sound operating results for the year. Diluted core headline earnings per share will be broadly in line with the figure reported for the 2007 financial year. Global investment market values declined significantly over the year, resulting in lower overall investment returns and a net capital depreciation on the group's shareholder funds. This contrasts with the significant gains reported in 2007. Shareholders are therefore advised that the group's diluted earnings per share and diluted headline earnings per share will reflect a decrease of between 105% and 115% on the comparative 2007 results. Notwithstanding the impact of the adverse market conditions, the Metropolitan group remains well capitalised. The forecast financial information on which this trading statement is based has not been reviewed and reported on by Metropolitan's external auditors.
12 Nov 2008 15:15:59
(Official Notice)
South Africa's dual economy is experiencing the current economic environment in different ways - the emerging economy is growing while those exposed to the stock markets and interest-rate leverage are under pressure; Metropolitan remains focused on servicing its traditional emerging market. Economic, investment and financial markets, local and global, remain challenging. Management is confident that the group's entrenched market positioning, together with its diversified income streams, will enable it to grow its operations for the foreseeable future. The 21% growth in the present value of premiums (PVP) of retail new business over the nine months, in conjunction with sustained persistency levels, was particularly satisfying. The corporate business secured a number of profitable contracts through innovative solutions and its new umbrella fund product. In a PMR survey, it was rated as the best pension fund administrator in South Africa in the category for administrators with more than 100 000 lives under administration. Metropolitan International made good progress in growing its businesses in Africa. Metropolitan Health Group (MHG) continued to increase its number of members under administration through the successful take-on of new Government Employees Medical Scheme (GEMS) members. The group's capital management activities are ongoing, with a specific focus on maintaining a sound balance sheet in these volatile markets. Net cash received from clients, including all Metropolitan businesses, was R6.7 billion.
11 Sep 2008 08:53:54
(Media Comment)
The Financial Mail views Metropolitan as a "buy" verses a "hold" recommendation for Sanlam. The magazine's Stephen Cranston wrote that Metropolitan has been more successful than Sanlam in health and employee benefits and has done well in setting up a bancassurance venture in Nigeria.
04 Sep 2008 07:39:58
(Media Comment)
Business Day reported that Metropolitan has been awarded the Government Employees Medical Scheme (Gems) administration contract for a second term. The contract is awarded for a three-year term. Metropolitan CE Wilhelm van Zyl said that the scheme now boasts 270 000 principal members.
03 Sep 2008 08:24:17
(C)
The group?s diluted core headline earnings per share, the best measure of operating profit because items of both a once-off and an inherently volatile nature have been stripped out, increased by 14% from 61.28 cents to 70.03 cents. New business APE (annual premium equivalent, comprising recurring premiums plus 10% of single premiums) was 21% higher and the unbroken record of positive cashflow from clients continued, with a net inflow of R5.6 billion being recorded. The new business margin reduced from 1.6% to 0.7% (present value of future premiums (PVP) basis) as the increase in the economic parameters together with higher new business expenses had a greater impact than the improved new business production. A reduction in the RDR of 1.5%, as has been experienced post the reporting date, would have increased the value of new business to levels similar to those reflected in the prior year. Operating profit increased by 4%, boosted by higher average investment assets and a lower income tax charge, but dampened by the change in accounting policy referred to above as well as the worsening economic environment.



Dividends

An interim dividend of 40.00 cents per ordinary share was declared.



Prospects

Metropolitan continues to capitalise on its focused market positioning, in line with its strategy to create prosperity for Africa`s people by providing accessible, affordable and appropriate products. All the businesses within the group are well prepared for the opportunities and threats posed by ongoing changes in the highly regulated environments in which they operate. Food and transport inflation remain the biggest challenges to the group?s core target market. Further increases in these factors will continue to curtail new business prospects. The board is satisfied that the business is well positioned, thanks to its strong focus on client service, product innovation, business retention, cost containment and capital management.
22 Aug 2008 15:05:52
(Official Notice)
During the period under review South African investment market values - particularly equities and bonds - declined, resulting in a net capital depreciation on the group's shareholder funds. This contrasts with the substantial gain included in the 2007 comparative results. Earnings were also negatively impacted by the adjustment of discount rates and future expense inflation expectations. The long-dated interest rates increased significantly up to 30 June 2008, raising the discount rate used to value actuarial liabilities by 2.5%, and resulted in a negative actuarial basis change. Shareholders are therefore advised that the group's diluted earnings per share and diluted headline earnings per share will reflect a decrease of between 60% and 70% on the comparative 2007 results. Core headline earnings per share will, however, show an improvement on the previous period of between 10% and 15%, mainly driven by improved operational efficiencies and a higher average asset base during the period under review as compared to last year.
30 May 2008 16:47:00
(Official Notice)
Shareholders are advised that at the annual general meeting of the members of Metropolitan held in Bellville, Cape Town on Friday, 30 May 2008, all the resolutions set out in the Notice of the Annual General Meeting were passed by the requisite majorities of shareholders. The special resolution will be lodged with the Companies and Intellectual Property Registration Office for registration.

30 May 2008 12:10:50
(Official Notice)
Group overview for the three months ended 31 March 2008

* Retail new business on a present value of premiums basis (PVP) grew by 27%, boosted mainly by successes in the single premium markets.

* This growth is proof of the increased reach of the Metropolitan brand in line with group strategy.

* The increased awareness in our target markets of the importance of savings and insurance is pleasing.

* Measured over a longer term, the all-round successes in the corporate business continued.

* The international business officially launched its Nigerian operation and continued to make progress with their other new ventures, increasing their annual premium equivalent (APE) by 68%.

* Metropolitan Health further increased the number of members under administration while maintaining exceptional levels of service, highlighting the sound underlying business model.

* The new management team within asset management settled in and started to secure new inflows.

* Overall the net cashflow remained positive at R2.8 billion.

* Capital management activities received ongoing focus.

* The global investment, financial and economic markets remain challenging.
02 Apr 2008 09:51:27
(Media Comment)
Metropolitan and the National Union of Metal Workers of SA's ("Numsa's") Numsa Investment Company, have agreed to form a joint venture company to provide life policies for Numsa's 260 000 members. Business Day quoted Metropolitan's group executive for strategic ventures, Willem Coetzee, as saying that a company had also been formed to provide financial products to Numsa members. The new life company would be called Union Life.
31 Mar 2008 09:22:28
(Official Notice)
Peter Doyle, group chief executive will resign from the board of Metropolitan and all its subsidiaries with effect from 31 March 2008. He is being succeeded by Wilhelm van Zyl.
28 Mar 2008 08:02:14
(Official Notice)
Abel Sithole, executive director of Metropolitan Holdings Ltd, has notified the group of his resignation and as a result will be stepping down as director with effect from 31 March 2008. He will be leaving the employment of Metropolitan once a smooth transition has been effected.
14 Mar 2008 08:18:23
(Media Comment)
Rajay Ambekar, an analyst at Cadiz African Harvest, was quoted in Business Report as saying that a takeover of Mutual - Federal Insurance Co Ltd ("M-F") by Metropolitan was not on the cards because Old Mutual plc's 75% stake in M-F "would be too enormous for them". M-F's market capitalisation on Thursday, 13 March 2008, stood at R6.6 billion, while Metropolitan's amounted to R7.4 billion.
12 Mar 2008 09:58:23
(Official Notice)
Metropolitan`s results for the financial year ended 31 December 2007, the group`s last set of results under the leadership of current ceo Peter Doyle, were, without exception, ahead of consensus forecasts by investment analysts covering the life insurance industry. Two key milestones were reached: R100 billion in assets under management and R1 billion in core earnings. By way of a further accolade to the man who has been at the helm for the past decade, the group posted a 32% increase in the value of new business across the group, up from R254 million in 2006 to R336 million, a noteworthy achievement in the current economic climate.
12 Mar 2008 09:51:33
(C)
Metropolitan reported their year end results for 31 December 2007 which included the following highlights:

* Diluted core headline earnings per share, at 142 cents, increased by 26%.

* Headline earnings and earnings, both at 280 cent per share; include investment market performance and actuarial basis changes.

* All of the operating businesses increased their contributions to group profits, with higher growth from the smaller businesses once again highlighting the benefits of the diversification strategy.

* The unbroken record of positive net cash flow not only continued, but set a new record at R12.5 billion.

* Investment income on shareholder assets was 24% higher despite another R1 651 million capital having been returned to shareholders during 2007 (15% of the opening market capitalisation).

* Good investment market performance contributed to sustained positive funding levels and the continued strong capital position of the group.

* The return on embedded value of 18% was driven by further operational improvements and the increased value of new business added.



Dividends

On 11 March 2008 a final divided of 59.00 cents per ordinary share was declared.



Prospects

Metropolitan continues to capitalise on its focused market positioning, in line with its strategy of creating prosperity for Africa`s people by providing accessible, affordable and appropriate products. All the businesses within the group are well prepared for the threats and opportunities posed by ongoing changes in the highly regulated environments in which they operate. Food prices and transport inflation as well as credit extension remain the biggest challenge to our core target market. Any further increases are likely to curtail new business prospects and threaten the persistency of the in-force book. The board is satisfied that the business is sustainable, thanks to its strong focus on client service, product innovation, business retention, cost containment, diversification and capital management.
19 Jul 2006 14:18:18
(Official Notice)
Metropolitan has repurchased ordinary shares in accordance with the general authority granted by its shareholders at the annual general meetings held on Wednesday, 18 May 2005 and 31 May 2006. During the period 18 April 2006 to 5 June 2006, Metropolitan acquired a total of 15 534 600 ordinary shares, equivalent to 2.62% of its issued ordinary share capital as at 31 December 2005, at prices ranging from 1219c to 1345c per ordinary share, for a total consideration of approximately R199 million (excluding dealing and other associated costs). The share repurchase has been funded from available cash resources. These shares were repurchased in the open market at prices not exceeding the limits prescribed by the JSE and will be cancelled and de-listed as soon as possible.



The board and management of Metropolitan have confirmed that buying back ordinary shares at prices up to embedded value as part of an ongoing capital management programme is an effective and efficient way of adding value for shareholders. The extent of the outstanding repurchase authority is 118 million Metropolitan ordinary shares.
04 Jul 2006 10:22:48
(Official Notice)
A H Sangqu, previously the late Eric Molobi's alternate, has been appointed as a non-executive director of Metropolitan with effect 3 July 2006.
05 Jun 2006 14:33:46
(Official Notice)
Metropolitan's chairman, Mr Eric Molobi, passed away on Sunday, 4 June 2006 after a long battle with cancer. As previously announced, Mr M J N Njeke was appointed as acting chairman by the board of directors of Metropolitan with effect from 30 May 2006.
02 Jun 2006 14:37:20
(Official Notice)
Due to the prolonged illness of Metropolitan's Chairman, Eric Molobi, the board of directors has appointed a current non-executive director, M J N Njeke, as acting chairman to the board of directors of Metropolitan with effect from 30 May 2006. W P Esterhuyse, a non-executive director of Metropolitan since 1991, has retired from the board of directors with effect from 30 May 2006.
30 May 2006 16:56:45
(Official Notice)
At the annual general meeting of the members of Metropolitan held in Bellville, Cape Town on Tuesday, 30 May 2006, the requisite majority of shareholders passed all the ordinary and special resolutions.
30 May 2006 15:53:24
(Official Notice)
The group's annual premium equivalent (APE) increased by 4% The retail enhancement initiative (REI), which introduces a more cost- effective and speedier way of capturing and issuing new business. Management remains confident that growth between 3% and 8% for the full year is still achievable The recovery in the corporate business has resulted in a 101% growth in its APE.



The number of Metropolitan shares traded in the first quarter of this year was 9% higher than that recorded in the first quarter of 2005, while our foreign direct shareholding has continued to increase. Metropolitan has been admitted to the JSE Socially Responsible Investment (SRI) index with effect from 3 May 2006 The group was honoured to be included in the Forbes Global 2000, a list of the top 2000 companies in the world according to market value, turnover, profit and assets. Metropolitan was listed as the 14th South African company.
30 May 2006 15:24:39
(Official Notice)
In Metropolitan trading update for the first quarter the group's chief executive said that operational changes within the financial services group exerted downward pressure on retail new business volumes during the period. In spite of this, the group's annual recurring premium equivalent (APE) increased by 4% compared to the first quarter last year. On the corporate front, APE grew strongly, up 101% on the equivalent period last year. He confirmed that the group's health business was showing good growth and that its international expansion plans were on track.
20-Apr-2006
(Permanent)
The Dec 05 results were prepared in accordance with IFRS.
03 Apr 2006 17:11:34
(Official Notice)
Metropolitan today announced that Jan Weers, statutory actuary of Metropolitan Life since 1988, retired with effect from 31 March 2006. He will, for a period of time, continue to consult and provide advice to the actuarial management team.



The Metropolitan board has recommended to the Financial Services Board that Lance Raftesath, head of corporate actuarial, be appointed as statutory actuary of Metropolitan Life.
15 Mar 2006 09:26:15
(C)
12 Dec 2005 18:00:09
(Official Notice)
Following a number of rulings by the pension funds adjudicator, Vuyani Ngalwana, against most of the major life insurers, the industry and treasury announced the detail of a settlement on Monday, 12 December. This brings an end to months of speculation and uncertainty amongst stakeholders with regards to how the industry was going to react to increased pressure on its lack of disclosure of costs relating to retirement annuity and endowment products and penalties incurred when clients choose to terminate their policies or reduced their monthly premiums.



The total amount that has been earmarked by the industry to compensate policyholders is around R2.6 billion, of which Metropolitan's share, to be funded by shareholders, is of the order of R150 million to R165 million. The overall embedded value effect is estimated to be around 4% of the most recently reported value of in-force. It is anticipated that there may be an additional administrative cost of up to R7.5 million relating to the implementation of these proposals.
22 Nov 2005 12:15:40
(Official Notice)
Shareholders are referred to the announcement released on SENS on 2 November 2005 in terms of which shareholders were advised that in light of the recent release of the government's new broad-based Black Economic Empowerment Codes of Good Practice, there were shareholders who wished to have more time to consider the impact of these Codes on Metropolitan's Black Economic Empowerment transaction. Accordingly, at the general meeting held on 2 November 2005 shareholders approved the adjournment of the general meeting to Tuesday, 22 November 2005. At the general meeting held on Tuesday, 22 November 2005 all the resolutions proposed were passed by the requisite majority of shareholders entitled to vote. The special resolutions will be registered with the Registrar of Companies in due course.
14 Nov 2005 10:51:35
(Official Notice)
Shareholders are advised that Metropolitan has repurchased ordinary shares in accordance with the general authority granted by its shareholders at the Annual General Meeting held on Wednesday, 18 May 2005. Metropolitan acquired a total of 20 567 189 ordinary shares, equivalent to 3.17% of the issued share capital, during the period 19 September 2005 to 10 November 2005 at prices ranging from 1015 c to 1139 c per ordinary share for a total consideration of approximately R224 million (excluding dealing and other associated costs). These shares were repurchased in the open market and will be cancelled and delisted as soon as possible. The extent of the authority outstanding is 109 million Metropolitan ordinary shares. The share repurchase has been funded from available cash resources.
10 Nov 2005 12:12:12
(Official Notice)
02 Nov 2005 15:01:40
(Official Notice)
Shareholders are referred to the announcement released on SENS on 18 August 2005, the circular issued to shareholders on 5 September 2005, the revised terms released on SENS on 27 September 2005 and the revised notice issued to shareholders on 28 September 2005, all relating to the second phase of Metropolitan's Black Economic Empowerment transaction.



In light of the recent release of the government's new Broad-based Black Economic Empowerment Codes of Good Practice, there are shareholders who wish to have more time to consider the impact of these Codes on the Transaction. Accordingly at the general meeting held on 2 November 2005, shareholders approved the adjournment of the general meeting until 11:00 am on Tuesday, 22 November 2005.



The remaining salient dates are listed below:

*Results of the general meeting released on SENS on Tuesday, 22 November

*Results of the general meeting published in the South African and Namibian press on Wednesday, 23 November

*Expected date of issue of the "A2"' and "A3" Metropolitan preference shares on Monday, 5 December





19 Oct 2005 12:42:44
(Official Notice)
Announcement to shareholders regarding:

* the issue price of the "A2" and "A3" Metropolitan preference shares (the "Met Prefs") issued in terms of the second phase of Metropolitan's Black Economic Empowerment transaction (the "Phase II transaction"); and

* the share repurchase by Metropolitan



The Phase II transaction

Shareholders are referred to the announcement released on SENS on 18 August 2005, the circular issued to shareholders on 5 September 2005, the revised terms announced on SENS on 27 September 2005 and the notice issued to shareholders on 28 September 2005, all relating to the Phase II transaction.



Issue price of the Met Prefs

Shareholders are advised that the issue price per Met Pref is R10.18 based on the volume weighted average price of the Metropolitan ordinary shares traded on the JSE over the five trading days ended on 18 October 2005. The number of "A3" Met Prefs to be issued will be 34 381 139, being R350 million divided by the issue price.



The share repurchase

An amount of 13 075 000 ordinary shares, representing 1.77% of Metropolitan's total issued shares, were repurchased by the company during the period 19 September 2005 to 11 October 2005 at prices ranging from 1 060 cents per ordinary share to 1 139 cents per ordinary share for a total consideration (excluding dealing and other associated costs) of approximately R145 million. The Metropolitan ordinary shares were repurchased in the open market at a price not exceeding the limits as prescribed by the JSE. The shares repurchased will be cancelled and delisted from the JSE with effect from Wednesday, 19 October 2005. The company bought back the Metropolitan ordinary shares through the order book operated by the JSE trading system and this has been done without any prior understanding or arrangement between the company and the counterparties concerned.



The share repurchase has been funded from available cash resources.
17 Oct 2005 11:08:36
(Official Notice)
Sindisiwe Mabaso has resigned as a non-executive director from the Metropolitan board with effect from 17 October 2005.
27 Sep 2005 17:29:25
(Official Notice)
15 Sep 2005 15:29:03
(Media Comment)
Metropolitan told Business Day that the group is planning to open operations in Ghana and Kenya as early as 2006. It is also planning on buying an existing operation in either of the two countries and possibly consider extending its reach to other African countries like Nigeria.
14 Sep 2005 11:40:57
(C)
Strong investment markets contributed to improved funding levels and a sound capital position for the group. Metropolitan reported its operating income to be R786m (R675m). Earnings attributable to shareholders was recorded to be R537m (R601m), while its headline earnings per share was noted to be 91.48c (102.41c). Core headline earnings increased by an impressive 50% to R288m (R192m). Total recurring premium income, an important measure of sustainable success in an insurance operation, increased by 11% to R2.8bn, while the unbroken record of positive cashflow from clients continued, with a net inflow of R2.2bn. Retail, the largest contributor to the group profits, increased its operating profit by 48% while the corporate business grew its profits by 50%. An interim dividend of 24cps has been declared which is consistent with prior year dividends.



Prospects

Metropolitan remains the largest long-term financial services group in Southern Africa focused on the low and middle income markets. The benefits of this focus, enhanced by Metropolitans commitment to black economic empowerment as encapsulated in its brand and reflected in these results, will continue to give the group a competitive advantage. The outlook in the groups target markets is extremely positive, boosted by the increase in disposable income as a result of reduced interest rates, lower inflation, rising employment rates, an improved GDP outlook and growing business confidence. The board is satisfied that the operational improvements achieved in 2004 and continued into 2005 are sustainable, with a strong focus on productivity, business retention, cost containment, client service levels and capital management in the rest of 2005.

13 Sep 2005 15:44:29
(Official Notice)
Shareholders are advised that Ntuthukoyezwe Zuzifa Buthelezi has resigned as a non- executive director from the Metropolitan board and that Derek Howard Pead has been appointed as an executive director of Metropolitan, both with effect from 13 September 2005. Mr Buthelezi`s resignation is due to other commitments and an increased workload which have made it progressively difficult for him to meet the demands of the board.
12 Sep 2005 17:52:01
(Official Notice)
Metropolitan shareholders are referred to the announcement on SENS on 9 June 2005 that MHC, a subsidiary of Metropolitan, and KTI have entered into an agreement in terms of which KTI will acquire a direct shareholding of 17.63% in MHC in terms of the Empowerment Transaction. KTI currently has an 11.97% equity stake in Metropolitan. This existing interest, combined with the Empowerment Transaction, will result in KTI having an effective shareholding in MHC of just over 25%. Taking into account the equity currently held by black management and staff, MHC`s empowerment shareholding will be in excess of 30%. The Empowerment Transaction is effective from 1 January 2005. The consideration for the 17.63% shareholding acquired by KTI in terms of the Empowerment Transaction is R135 million.
02 Sep 2005 18:35:40
(Official Notice)
Metropolitan is currently finalising its results for the six months period ended 30 June 2005, which will be released on 14 September 2005. Metropolitan advises that core headline earnings will show an improvement on the previous period, being June 2004, of between 30% and 50%, mainly driven by improved operational efficiencies and good investment market levels during the period under review. The published June 2004 results will be restated to take into account the release from the 90:10 fund, effective date 1 January 2004, and any changes that are required in terms of the transition to International Financial Reporting Standards. By excluding the once-off release from the 90:10 fund, fully diluted earnings and headline earnings per share will show an improvement of between 240% and 260%. The disclosed fully diluted earnings and headline earnings per share will, after taking the once-off release into account, reflect a decline of less than 20%. The forecast financial information on which this trading statement is based has not been reviewed and reported on by the company`s auditors
18 Aug 2005 16:28:29
(Official Notice)
Shareholders are referred to the announcement released on SENS on 17 June 2004 and the circular to shareholders issued on 17 August 2004 regarding the first phase of Metropolitan`s broad-based BEE transaction. Phase I was implemented on 1 October 2004. In Phase I, Kagiso Trust Investments (Pty) Ltd (KTI) acquired a 10.3% interest in Metropolitan. At that stage both Metropolitan and KTI announced that it was their intention to increase this shareholding within a reasonable period and to include members of Metropolitan management. In accordance with this intention, Metropolitan has concluded further agreements for the establishment of the Metropolitan Empowerment Trust, the beneficiaries of which will be members of Metropolitan management, and for the acquisition by KTI and the Metropolitan Empowerment Trust collectively of a 6.1% interest in Metropolitan. On the successful implementation of Phase II, KTI and the Metropolitan Empowerment Trust will jointly hold a 17.3% interest in Metropolitan. The effective date of Phase II is expected to be 14 October 2005. the Metropolitan Empowerment Trust will be established, 70% of the beneficial interest of which will accrue to black management. The Trust will subscribe for ordinary shares in Newco at a cost of R10 million, which will result in the Trust holding 25% of the issued share capital of Newco. The consideration will be raised independently by the participants. Once this has been implemented, the Metropolitan Empowerment Trust will hold an indirect shareholding in Metropolitan of 4.3%. It is expected that the proportion of Met prefs that are indirectly held by the Metropolitan Empowerment Trust will qualify for ownership points in terms of the Financial Sector Charter. A general meeting of Metropolitan shareholders will be held to consider and vote on the resolutions required to increase the authorised share capital of Metropolitan by the creation of the `A2` Met prefs and the `A3` Met prefs, amend Metropolitan`s articles of association and to grant the board of Metropolitan the specific authority to allot and issue the `A2` Met prefs and the `A3` Met prefs. A circular containing full details of Phase II as well as the notice of general meeting will be posted to Metropolitan shareholders in due course.
09 Jun 2005 17:26:07
(Official Notice)
11-Oct-2016
(X)
MMI Holdings Ltd. (MMI), a South African financial services group, listed on the JSE, is committed to a client-centric strategy that is purposefully focused on providing for our clients? needs in order to enhance their lifetime Financial Wellness. MMI believes Financial Wellness is a continuous process of planning and managing your money so that you can afford your expenses and reach your goals over your lifetime. MMI uses its client-facing brands, mainly Metropolitan, Momentum, Guardrisk and Multiply, as well as MMI?s financial services and other capabilities to enhance the Financial Wellness of individual clients, small and medium businesses, large companies, organisations and public enterprises in South Africa, the rest of Africa and selected international countries. MMI has strong capabilities in:

*Long and short-term insurance for individuals and corporates.

*Asset management, property management, investment and savings.

*Healthcare administration and health risk management.

*Client engagement solutions, including Financial Wellness and rewards programmes.


Send e-mail to for any enquiries or see Contact Details for phone numbers
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