RAND MERCHANT INVESTMENT HOLDINGS LIMITED - Voluntary announcement: Outsurance update

Voluntary announcement: Outsurance update

RAND MERCHANT INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2010/005770/06)
JSE ordinary share code: RMI
ISIN: ZAE000210688
(“RMI” or the "Company")

VOLUNTARY ANNOUNCEMENT: OUTSURANCE UPDATE

RMI wishes to advise the market of the appointment of Marthinus Visser as the new Group CEO of
OUTsurance Holdings Limited (“OUTsurance”). Marthinus will be taking over from Willem Roos,
effective 1 January 2018.

Marthinus has served as the chief actuary for OUTsurance for the last 18 years. He has been
instrumental in developing and continually advancing OUTsurance’s sophisticated underwriting, call
centre and claims management capabilities.

Willem will remain on the OUTsurance board as a non-executive director. Willem will be selling a
small portion of his shareholding in OUTsurance to RMI but will retain the majority of his shares until
at least the end of 2021.

OUTsurance has experienced positive trading conditions since the end of the 2017 financial year in
both the South African and Australian operations. Favourable underwriting results coupled with good
growth in new business volumes are testament to OUTsurance’s continued disciplined pricing
philosophy and improvements in operational delivery.

Under the leadership of Marthinus, the management team will continue to drive OUTsurance’s core
strategy of incrementally improving its operational and technological capabilities across the Group’s
operations. The development of OUTsurance’s commercial insurance distribution capabilities and
driving positive premium growth at Youi remain the key strategic growth objectives. In addition,
OUTsurance will continue to explore diversification strategies to leverage its strong operating
brands.

Sandton
13 November 2017

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

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