Momentum Metropolitan : Summary of financial information

Our purpose

Protection

Life insurance and

life cell captives

Non-life insurance and non-life cell captives

To enable businesses and people from all walks of life to achieve their financial goals and life aspirations.

SUMMARY OF FINANCIAL

Establish new

channels

Accelerate digital

Product

and service leadership

>R500 million in cost

efficiencies

Non-life insurance contributes

20% of NHE

Market share

+1% to +6%

INFORMATION AND NOTICE OF AGM 2023

Momentum Metropolitan is one of the largest diversified financial services companies in South Africa.

We provide protection (life and non-life), investment and long-term savings solutions, and healthcare administration through a portfolio of specialised and empowered businesses through the Momentum, Metropolitan and Guardrisk brands.

THE VALUES UNDERPINNING OUR PURPOSE

We have an explicit set of values that play a key role in shaping the culture of the Group and the behaviour of our employees.

AccountabilityIntegrityInnovation

We operate in

Outside South Africa, we operate in five African countries through Momentum Metropolitan Africa, which includes Botswana, Ghana, Lesotho, Mozambique and Namibia. Momentum Investments has operations in the United Kingdom and Guernsey.

The Group has a health insurance joint venture in India and Guardrisk has businesses in Gibraltar and Mauritius.

SUMMARY OF FINANCIAL INFORMATION AND NOTICE OF AGM 2023

life

Solutions

• Protection through Myriad, the life insurance product
• Savings through Investo and traditional product ranges
• Traditional products administration (closed life book)
• Advice through Momentum Financial Planning
• Estate administration and estate liquidity benefits through Momentum Trust

Clients

Lifetime value propositions for clients in the middle, upper and high-net-worth markets.

Distribution

Our distribution capability includes our own agency force, digital platforms and independent financial advisers (IFAs).

Momentum

Metropolitan

health business

Solutions

• Integrated health administration and managed care and wellness services
• Wellness and reward programmes to incentivise healthy behaviour

Clients

The business manages the health of more than 2.5 million South African beneficiaries.

Distribution

Advisers as well as directly. Medical schemes and employer group contracts are secured through tenders.

investments

Solutions

• Retail investments (local and offshore investment platform products, guaranteed investments, annuities, structured products, collective investments, discretionary fund management)
• Institutional investments (multi-asset solutions, single-asset class funds, alternative investments, administrative platform)
• Global investments (multi-asset and single-asset class solutions, and investment consulting for South African, United Kingdom and expat markets)
• Eris, a fully integrated property services company, manages shareholder and policyholder direct property exposures

Clients

Helping individuals, businesses and retirement funds invest with confidence, and stay invested.

Distribution

Distribution capability includes its own agency force and IFAs in the retail segment and a direct distribution team focusing on the institutional market.

Solutions

• Cell captives (life and non-life cell captives), and alternative risk solutions
• General insurance (corporate, specialist and commercial underwriting solutions)
• Life and non-life microinsurance (economic inclusion using our cell captive expertise)

Clients

Corporate and commercial entities.

Distribution

Corporate and commercial insurance brokers and underwriting managers in niche sectors.

Solutions

• Funeral solutions
• Life and disability cover
• Retirement savings solutions
• Discretionary saving solutions
• Annuities and capital protection solutions
• Customisable discretionary savings for life goals
• Hospital cashback solutions

Clients

Needs-based solutions for our clients in the emerging and middle-income markets.

Distribution

Metropolitan Life's solutions are distributed through a combination of tied agents, supporting IFAs, an outbound call centre and digital distribution.

Insure

Solutions

• Car, home, contents, and portable possession cover for individuals
• Bespoke cover for high-net-worth individuals
• Tailored cover for individuals older than 55
• Comprehensive business insurance solutions for the small, medium and micro-enterprise (SMME) market

Clients

Momentum Insure provides retail non-life insurance to the middle, upper and

high-net-worth market segments and small to medium businesses.

Distribution

Non-life retail insurance solutions are distributed through tied agents and IFAs and direct-to-consumer marketing campaigns.

corporate

Solutions

• FundsAtWork umbrella fund
• Group insurance
• Structured investments and annuities
• Advice and administration
• Member solutions

Clients

Momentum Corporate provides holistic solutions for the needs of employees and employers across various corporate and public sector entities.

Distribution

Solutions are distributed through large specialist actuarial consultants, employee benefits brokers, smaller intermediaries in the small and medium enterprise (SME) space and an in-house business development team.

Momentum

Metropolitan

Africa

Solutions

• Life insurance
• Non-lifeinsurance
• Healthcare
• Asset management
• Pension administration

Clients

Our insurance solutions are mostly targeted at the retail mass segment, as well as public and private employee groups across our six chosen markets on the continent.

Distribution

The distribution models in each country are tailored to the needs of the local market across tied agents, brokers, IFAs, call centres and bancassurance.

SUMMARY OF FINANCIAL INFORMATION AND NOTICE OF AGM 2023