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{{Paid contributions|date=July 2024}}
{{EngvarB|date=March 2016}}
{{Use dmy dates|date=March 2016}}
{{Infobox company
| name = OUTsurance Holdings Limited
| logo = [[File:OUTsurance logo.svg|150px]]
| type = [[Public company|Public]]
| key_people = '''LaurieHerman DippenaarBosman''' <br/> [[Chairman]] <br/> '''WillemMarthinus RoosVisser''' <br/> [[Chief Executive Officer|CEO]]
| industry = [[Insurance]] & [[Financial services]]
| products = [[Insurance]]
| parent = OUTsurance Group Limited
| revenue ={{Increase}} [[South African rand|ZAR]]:14.7 billion <small>(2016)</small>
| area_served =
| net_income ={{Increase}} ZAR:1.9 billion <small>(2016)</small>
{{Plainlist|
| assets ={{Increase}} ZAR:14.7 billion <small>(2016)</small>
* [[South Africa]]
| equity ={{Increase}} ZAR:5.9 billion <small>(2016)</small>
* [[Australia]]
| num_employees = 4,285 <small>(2016)</small>
* [[Ireland]]
| parent = [[Rand Merchant Investment Holdings|RMI Holding]]
}}
| homepage = [http://www.outsurance.co.za/ Homepage]
| foundation = {{Start date and years ago|1998|02|28|df=y}}
| location = [[Centurion, Gauteng|Centurion]], [[South Africa]]
}}
 
'''OUTsurance Holdings Limited''', commonly referred to as '''OUTsurance''', is a subsidiary of [[RandOUTsurance MerchantGroup Investment Holdings]]Limited (RMIOUTsure, Holdingsa JSE listed entity),<ref name=":1">{{Cite web|url=https://wwwgroup.outsurance.co.za/adxabout-us/aspx/adxGetMedia.aspx?DN=2633afd0-dae7-4f78-b78f-105a78bc80a7|title=OUTsurance Holdings Limited 2015 Annual Report|last=|first=|date=30 June 2015|website=|publisher=OUTsurance Holdings Limited|access-date=2016-03-23}}</ref> a [[South Africa]]n based financial services investment holding company. OUTsurance Holdings Limited was formed in 1998<ref name=":0" /> and is an unlisted public company with headquarters in [[Centurion, Gauteng|Centurion]], [[South Africa]].<ref name=":0">{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=20757724|title=Company Overview of Outsurance Insurance Company Limited|last=|first=|date=|website=[[Bloomberg Businessweek]]|publisher=[[Bloomberg L.P.]]|access-date=2016-03-23}}</ref> It is ana insurancefinancial services holding company based in South Africa, with subsidiaries in [[Namibia]], [[Australia]] and [[New ZealandIreland]].
 
OUTsurance subsidiaries offer various short and long-term insurance products to individual and corporate customers.
 
== History ==
OUTsurance was launched on 28 February 1998 as a wholly owned subsidiary of [[RMB Holdings]] to provide short-term insurance to individuals.<ref>{{Cite web|url=http://www.rmbh.co.za/reports/annual1998/rmbh98.pdf|title=RMB Holding 1998 Annual Report|last=|first=|date=1998-06-30|website=|publisher=RMB Holding Limited|access-date=2016-03-23}}</ref> On 1 January 2000, OUTsurance acquired the First National Insurance group (FNI) from [[First Rand|FirstRand]] in an all share deal that gave RMBH and FirstRand each an interest of 47.5% in the merged entity, with 5% being held by the staff trust. By virtue of its shareholding in FirstRand, RMBH has 59.4% control in OUTsurance.<ref>{{Cite web|url=http://www.rmbh.co.za/reports/annual2000/rmbhar2000.pdf|title=RMB Holding 2000 Annual Report|last=|first=|date=2000-06-30|website=|publisher=RMB Holding Limited|access-date=2016-03-23}}</ref>
 
2006 saw OUTsurance expand into Namibia with the launch of OUTsurance Insurance Company of Namibia in partnership with FNB Namibia. In 2008 the group launched [[Youi]] in Australia, making it the first African company to set up an insurance business in Australia.<ref name=":1" /> The group launched OUTsurance Life in 2010. This unit allowed the group to offer basic and fully underwritten life insurance products in South Africa.<ref name=":1" /> Recently, OUTsurance Life has started offering funeral and endowment products.
 
On 7 March 2011, RMB Holdings'','' [[Remgro]] and FirstRand [[Corporate spin-off|spanspun off]] their insurance assets to [[Rand Merchant Investment Holdings|RMI Holdings]] (then a wholly owned subsidiary of RMBH).<ref name=":02">{{Cite web|url=http://www.rmbh.co.za/pdf/restructuring/RMBH_circular.pdf|title=RMB Holdings Limited - Circular to shareholders regarding the RMBH restructuring.|last=|first=|date=3 February 2011|website=|publisher=RMB Holdings Limited|accessdate=13 December 2014}}</ref> and separately listing it on the [[JSE Limited|JSE]]. The stake held in OUTsurance Holding by both RMB Holdings and FirstRand were thus taken up by RMI Holdings which was then listed it on the [[JSE Limited|JSE]] by way of introduction.<ref>{{Cite web|url=http://www.rmbh.co.za/pdf/restructuring/RMBH_circular.pdf|title=Pre-listing statement of RMI Holdings relating to the listing of RMI Holdings on the JSE with effect from the commencement of business on 7 March 2011|last=|first=|date=3 February 2011|website=|publisher=Rand Merchant Insurance Holdings|accessdate=13 December 2014}}</ref> This made OUTsurance Holding a subsidiary of RMI Holdings.
 
In July 2014, OUTsurance expanded into New Zealand with the launch of [[Youi]] New Zealand, as a subsidiary of Youi Australia.<ref name=":1" /> In September 2019, Tower bought Youi's New Zealand customers ending its attempt to crack the New Zealand market.<ref>{{Cite web|url=https://www.stuff.co.nz/business/116042669/south-african-insurer-youi-sells-its-34000-new-zealand-policies-to-tower|title= South African insurer Youi sells its 34,000 New Zealand policies to Tower.|last=|first=|date=|website=|publisher=Stuff.co.nz|access-date=2019-09-24}}</ref>
 
In May 2024, OUTsurance Ireland was launched offering short-term personal lines insurance. <ref>{{cite web | url=https://www.gov.ie/en/press-release/9de52-minister-carroll-macneill-welcomes-outsurance-to-ireland/ | title=Minister Carroll MacNeill welcomes OUTsurance to Ireland | date=5 January 2024 }}</ref>
 
== Member companies ==
Companies that make up OUTsurance Holdings include but are not limited to:<ref>{{Cite web|url=https://www.outsurance.co.za/siteassets/about-us/financial-results/2017/outsurance-holdings-limited-annual-report-20170630.pdf|title=OUTsurance Holdings Limited 2017 Annual Report|last=|first=|date=30 June 2017|website=|archiveaccess-urldate=30 May 2018}}{{Dead link|archive-date=January 2024 |dead-urlbot=InternetArchiveBot |accessfix-dateattempted=30yes May 2018}}</ref>
 
* OUTsurance Insurance Company – South Africa – 100% Shareholding – Offering General Insurance and other short-term insurance products.
* OUTsurance Life Insurance Company – South Africa – 100% Shareholding – Offering Lifelife Insuranceand funeral insurance to the South African public.
* OUTsurance International Holdings – South Africa – 100% Shareholding – A holding company for non-South African investments.
* OUTsurance Shared Services – South Africa – 100% Shareholding – A shared service company for the group.
* OUTsurance InsuranceProperties Company– of NamibiaSouth Africa – Namibia – 49100% Shareholding – A Offering General Insurance. [[First National Bank (Namibia)|FNB Namibia]] owns 51% ofproperty theownership venturecompany.
* OUTsuranceYoui PropertiesHoldings –Pty SouthLtd Africa– Australia – 10093% Shareholding – A property ownershipholding company for Australasia investments.
* Youi Holdings(Proprietary) Pty LtdLimited – Australia – 9394.6% Shareholding ––Offering A holding company for Australasia investments.General Insurance
* YouiCloudBadger (Proprietary)Technologies Pty Limited – AustraliaSouth Africa – 9348% Shareholding –Offering General Insurance
* Youi New Zealand Pty Ltd – New Zealand – subsidiary of Youi Holdings Pty Ltd <ref>[https://m.insurancebusinessmag.com/nz/news/breaking-news/new-entrant-a-threat-to-broker-model-51140.aspx New entrant a threat to broker model?]</ref> – Offering General Insurance
* Youi Properties – Australia – 93% Shareholding – A property ownership company.
* Youi Pty Limited SA – South Africa – 100% Shareholding - A financial services provider
* OUTvest Pty Limited – South Africa – 100% Shareholding - Online digital investment company
* OUTvest Nominees Pty Limited RF Pty Limited – 100% Shareholding – Nominee company for OUTvest Pty Limited
* Bateleur Technologies Pty Limited – South Africa – 100% Shareholding
* [[Hastings Insurance|Hastings Group Holdings]] – UK – 14.7% Shareholding – An online based digital insurer.
 
== Ownership ==
OUTsurance Holdings is an unlisted public company. As at MarchMay 201831 2024, the shareholding in the group's stock was as depicted in the table below:<ref>{{Cite web|url=https://www.outsurance.co.za/siteassetsglobalassets/aboutdocuments/outsurance-ussa/general/financial-reportresults/ar/outsurance-holdings-limited-annual-report-30-june-2016annual_report_2020.pdf|title=OUTsurance Holdings 2016 Annual Report 2020|last=|first=|date=|website=|publisher=OUTsurance Holdings|access-date=2017-01-21}}</ref>
 
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
Line 58 ⟶ 55:
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1|| FirnessOUTsurance Group Limited (formerly RMI Holdings) International<sup>1</sup> || 8089.308
|-
|2|| OUTsurance InvestmentManagement Trust(direct and indirect) and employee incentive schemes || 310.882
|-
|3|| OUTsurance Management || 5.38
|-
|4|| OUTsurance Holdings Share Trust || 1.19
|-
|5|| OUTsurance Equity trust || 0.88
|-
|6|| OUTsurance Equity Trust 2 || 0.05
|-
|7|| Rand Merchant Insurance Asset Holdings<sup>1</sup> || 8.32
|-
| ||'''Total'''||'''100.00'''
|}
 
1 – Firness International (Pty) Limited and Rand Merchant Insurance Asset Holdings are wholly owned subsidiaries of RMI Holdings
 
== Governance ==
OUTsurance Holdings is governed by a twelve-person board of directors with LaurieHerman DippenaarBosman as the chairman with Marthinus Visser as chief executive officer.<ref name=":1" />
 
Laurie Dippenaar retired from the board and his position as the chairman with effect 1 July 2020. He was replaced by Herman Bosman as the chairman, who is supported by a lead independent director, Kubandiran Pillay.<ref>{{cite web | url=https://group.outsurance.co.za/environmental-social-governance/our-people/ | title=Our people }}</ref>
 
== See also ==
{{columns-list|colwidth=22em|
* [[MMI Holdings Limited]]
* [[Discovery Limited]]
* [[Rand Merchant Investment Holdings]]
* [[First Rand]]
* [[RMB Holdings]]
Line 102 ⟶ 86:
* [http://www.firstrand.co.za/Pages/Firstrand.aspx First Rand Homepage]
* [http://remgro.com/ Remgro]
* [https://www.outsurance.co.za/globalassets/documents/outsurance-sa/general/financial-results/annual_report_2020.pdf Annual Results 2020]
}}
 
[[Category:Insurance companies of South Africa]]
[[Category:1998Companies establishmentsbased in Souththe AfricaCity of Tshwane]]
[[Category:CompaniesFinancial services companies established in 1998]]
[[Category:South African companies established in 1998]]
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