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Momentum logo

Momentum was established in 1966 and has grown organically, as well as through strategic acquisitions and mergers. The company became known as Momentum in 1973 when Momentum Assurance Corporation was acquired.

Rand Merchant Bank Holdings (RMBH) was established with Rand Merchant Bank (RMB) as a wholly-owned subsidiary in 1987. Momentum's growth escalated when RMBH took over Sankorp's interest in Momentum Life in 1992 and RMB became a wholly-owned subsidiary of Momentum Life, which in turn became a subsidiary of RMBH.

Anglo American merged their financial services interests with RMBH in April 1998 and the new holding company, FirstRand Limited, became the largest financial services company on the JSE at the time. As part of the transaction, Momentum merged with Southern Life. The creation of FirstRand, along with Momentum's merger with Sage in 2005 are two of the milestones that have contributed to making Momentum one of South Africa's leading insurance and asset management providers today.

Momentum's headquarters are located in Centurion, Pretoria, and it has over 5000 employees throughout South Africa. Momentum currently operates in South Africa, the United Kingdom, Mozambique and Namibia.

Metropolitan logo

Metropolitan was established in a small office in Paarl, Western Cape, in 1897, when a syndicate was formed aimed at providing finance so that poor people could buy their own homes. The company was registered the following year as the African Homes Trust.

Since then, Metropolitan grew through a combination of organic growth, mergers with other companies and acquisitions including a takeover of Prudential Insurance Company of SA in 1912, acquisition of Dove Insurance Corporation in 1963, acquisition of 22% of Commercial Union in 1998, acquisition of Transnet Retirement Fund Administration in 2006 to form the foundation for Metropolitan Retirement Administrators, and the acquisition of 50% of HTG in 2007 which was renamed Union Life.

In 1918, African Home Trust was taken over by Sanlam and in 1935, the articles of association of African Home Trust were amended to provide for funeral business. In 1979 African Home Trust merged with Metropolitan to become Metropolitan Homes Trust Life. Sanlam began selling its stake in Metropolitan from 1991 to the BEE consortium New Africa Investment Limited (NAIL).

On 21 September 2001, NAC (New Africa Capital Limited) created by Metropolitan and Nail; replaced Metlife as the listed holding company for the Metropolitan businesses. In the same year, New Africa Investments Limited (NAIL), the majority shareholder in NAC, unbundled its 49% stake, distributing the bulk of its NAC shares to its shareholders, retaining only 5%.

NAC was renamed Metropolitan Holdings Limited in 2003

In 2004, Metropolitan entered into a strategic empowerment partnership with Kagiso Tiso Holdings (KTH), this partnership was retained in the merger between Momentum and Metropolitan in December 2010.

Metropolitan operates in South Africa, Botswana, Ghana, Kenya, Lesotho and Namibia.

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