On Monday, Rand Merchant Investment Holdings (RMI) announced is its decision to unbundle its stakes in Discovery and Momentum Metropolitan Holdings (MMH) to its shareholders - a move that will see the group focus on short-term insurance.
Discovery and MMH make up 39% of RMI's total portfolio - the group's third- and fourth-biggest investments. RMI holds 89% of the short-term insurers OUTSurance; the OUTsurance sister company in Australia, Youi; as well as a stake in the UK tech-based insurer Hastings.
"[The unbundling is] not a vote against life insurance. It's much more driven as a natural choice of our structure," said RMI CEO Herman Bosman.