OUTsurance Group

OUTsurance Group

OUTsurance Group
TypePublic
IndustryInsurance
Financial services
Founded28 February 1998; 28 years ago (1998-02-28)
FounderWillem Roos
Howard Aron
and René Otto
HeadquartersCenturion, Gauteng, South Africa
Area served
Key people
Herman Bosman (Chairman)
Marthinus Visser(CEO)
RevenueIncrease R28.49 billion (2023)[1]
Increase R4.73 billion (2023)[1]
Decrease R3.42 billion (2023)[1]
Total assetsIncrease R33.97 billion (2023)[1]
Total equityIncrease R12.1 billion (2023)[1]
Number of employees
7,467 (2023)[1]
SubsidiariesOUTsurance Holdings
Websiteoutsurance.co.za

OUTsurance Group is a South African holding company in the insurance industry.[2]

Founded in 1998 and headquartered in Centurion, Gauteng, the company is listed on the JSE. OUTsurance offers a variety of personal and corporate insurance products in South Africa, Australia, and Ireland.[3]

History

OUTsurance was founded in February 1998 by Willem Roos, Howard Aron, and René Otto, to provide short-term personal insurance. Originally, it was a wholly owned subsidiary of RMB Holdings.[4]

In January 2000, OUTsurance acquired the First National Insurance group (FNI) from 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. As a result of its shareholding in FirstRand, RMBH had 59.4% control in OUTsurance.[5]

In 2006, OUTsurance expand into Namibia, in partnership with FNB Namibia.

In 2008, OUTsurance launched insurance company Youi in Australia.[2]

In 2010, the group launched OUTsurance Life, offering basic and fully underwritten life insurance products in South Africa.[2]

On 7 March 2011, RMB Holdings, Remgro and FirstRand Corporate spun off their insurance assets to RMI Holdings, making OUTsurance Holding a subsidiary of RMI Holdings.[6]

In July 2014, OUTsurance launched its Youi insurance brand in New Zealand, as a subsidiary of Youi Australia.[2] The company was sold to New Zealand entity Tower Insurance in September 2019.[7]

In May 2024, OUTsurance Ireland was launched, offering short-term insurance. [8]

Structure

As of the group's 2025 financial statements, subsidiaries of OUTsurance Group include:[9]

  • OUTsurance Holdings Limited
  • OUTsurance Insurance Company Limited
  • OUTsurance Life Insurance Company Limited
  • Youi Holdings Proprietary Limited
  • OUTsurance Designated Activity Company

References

  1. ^ a b c d e f "OUTsurance Holdings Limited Consolidated and Separate Annual Financial Statements for the year ended 30 June 2023" (PDF). OUTsurance Holdings Limited. 2023. Retrieved 17 July 2026.
  2. ^ a b c d "OUTsurance Holdings Limited". OUTsurance Holdings Limited. 30 June 2015. Retrieved 23 March 2016.
  3. ^ "Company Overview of Outsurance Insurance Company Limited". Bloomberg Businessweek. Bloomberg L.P. Retrieved 23 March 2016.
  4. ^ "RMB Holding 1998 Annual Report" (PDF). RMB Holding Limited. 30 June 1998. Archived from the original (PDF) on 8 August 2017. Retrieved 23 March 2016.
  5. ^ "RMB Holding 2000 Annual Report" (PDF). RMB Holding Limited. 30 June 2000. Archived from the original (PDF) on 8 August 2017. Retrieved 23 March 2016.
  6. ^ "RMB Holdings Limited - Circular to shareholders regarding the RMBH restructuring" (PDF). RMB Holdings Limited. 3 February 2011. Archived from the original (PDF) on 24 September 2015. Retrieved 13 December 2014.
  7. ^ "South African insurer Youi sells its 34,000 New Zealand policies to Tower". Stuff.co.nz. Retrieved 24 September 2019.
  8. ^ "Minister Carroll MacNeill welcomes OUTsurance to Ireland". 5 January 2024.
  9. ^ "OUTsurance Group Annual Financial Statements, 2025" (PDF). OUTsurance Group. 2025. Retrieved 17 July 2026.

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