Momentum Metropolitan Life Limited currently has an Unsecured Subordinated Note Programme, with a programme size of up to ZAR10bn. Momentum Metropolitan Life Limited is the Issuer listed on the Interest Rate Market of the JSE Limited.
Moody's credit opinion update for Momentum Metropolitan Life Limited
Moody's credit opinion for Momentum Metropolitan Life Limited
Moody's credit opinion Guardrisk
Update following 2018 financial results and investor conference
Update following rating confirmation and change in outlook to stable
Update following rating confirmation and change in outlook to stable
Updated credit opinion for Guardrisk.
Moody’s credit opinion for MMI Group Limited
Moody’s affirms Baa2, negative, global scale, and Aaa.za national scale, Insurance Financial Strength ratings for MMI Group Limited.
Moody’s affirms Aaa.za national scale IFS rating to MMI Group Limited
Moody’s affirms Aaa.za national scale IFS rating to Guardrisk Insurance and Guardrisk Life
Moody's places ratings of South African insurance groups on review for downgrade following action on the South African sovereign. The national scale ratings are not affected.
While Guardrisk Insurance and Guardrisk Life are rated Aaa.za on the national scale, Guardrisk International is rated Baa2 on the global scale.
MMI Group Limited’s Aaa.za national scale insurance financial strength rating reflects the insurer’s top tier market position in South Africa, its solid capital position and its flexible product characteristics.
The affirmation reflects MMI's strong capital position, well-diversified domestic franchise and sound profitability. The agency has simultaneously withdrawn all ratings for commercial reasons.
MMI and Guardrisk would like to advise note-holders that they have appointed Moody’s Investors Service as their new credit rating agency
In the same action, Moody’s assigned the following global scale IFS ratings, which serve as the basis for the national scale ratings: Guardrisk Insurance at Baa2 and GuaMoody’s also assigned a Aa2.za rating to MMI Group Limited’s unsecured subordinated notes on the national scale and a Aaa.za long-term issuer rating to MMIGL.
In the same action, Moody’s assigned the following global scale IFS ratings, which serve as the basis for the national scale ratings: Guardrisk Insurance at Baa2 and Guardrisk Life at Baa2.
MMI group’s ratings are supported by its solid domestic franchise as one of South Africa’s four largest life insurance groups, with two strong client-facing brands (Metropolitan and Momentum).
MMI group’s ratings are supported by its solid domestic franchise as one of South Africa’s four largest life insurance groups, with two strong client-facing brands (Metropolitan and Momentum).
MMI would like to advise note-holders that the validity period of the MMI and Guardrisk ratings has been extended by the Registrar of Credit Ratings Agencies to 31 May 2016.
The affirmation reflects MMI's strong capital position, well diversified domestic franchise, and sound profitability. Offsetting these key rating drivers is the group's exposure to the weak South African operating environment, and the risk of earnings volatility stemming from the group's exposure to investment markets.
Fitch Ratings has completed a review covering six insurance groups within South Africa focused exclusively on the impact of Fitch's downgrade of the South African sovereign rating.
Fitch Ratings has assigned MMI Group Limited's issue of subordinated debt securities a final rating of 'A+(zaf)'. The assignment of the final rating follows the completion of the bond issue and receipt of documents conforming to the information previously received. The final rating is the same as the expected rating assigned on 31 July 2015.
Fitch Ratings has assigned South Africa-based MMI Group Limited's (MMI) proposed issue of subordinated debt securities a 'A+(zaf)(EXP)' expected rating. The rating is in line with Fitch's standard notching practices.
Fitch Ratings has affirmed eight insurance groups based in South Africa or focused exclusively in the country following the application of its recently updated notching criteria for the insurance industry.
Fitch Ratings has affirmed MMI Group Limited's (MMI Group), Guardrisk Insurance Company Limited's (Guardrisk Insurance) and Guardrisk Life Limited's (Guardrisk Life) National Insurer Financial Strength (IFS) ratings at 'AA +(zaf)'.
Fitch Ratings has assigned South Africa-based MMI Group Limited's (MMI) ZAR750m issue of subordinated debt securities a 'A+(zaf)' final rating, in line with Fitch's standard notching practices.
Fitch Ratings has assigned South Africa based MMI Group Limited's (MMI) proposed issue of subordinated debt securities a 'A+(zaf)(EXP)' expected rating, and affirmed MMI Group's outstanding subordinated debt at 'A+(zaf)'. The rating is in line with Fitch's standard notching practices.
Fitch has upgraded Guardrisk Insurance Company Limited's (Guardrisk Insurance) and Guardrisk Life Limited's (Guardrisk Life) National Insurer Financial Strength (IFS) ratings to 'AA+(zaf)' from 'AA(zaf)'. The Outlooks are Stable.
Fitch Ratings has assigned South Africa- based MMI Group Limited's (MMI, IFS 'AA+(zaf)'/Stable) issue of subordinated debt securities of ZAR1.5bn an 'A+(zaf)' final rating, in line with Fitch's standard notching practices.
Fitch Ratings has upgraded South Africa based MMI Group Limited's (MMI Group) National Insurer Financial Strength (IFS) rating to 'AA +(zaf)' from 'AA(zaf)' and National Long-term rating to 'AA(zaf)' from 'AA-(zaf)' and MMI Holdings Limited's (MMI) National Long-term rating to 'AA-(zaf)' from 'A+(zaf)'. The Outlooks are Stable. Fitch has simultaneously upgraded MMI Group's subordinated debt to 'A+(zaf)' from 'A(zaf)'.
Fitch Ratings has maintained South Africa-based Guardrisk Insurance Company Limited (Guardrisk Insurance) and Guardrisk Life Limited (Guardrisk Life)'s 'AA(zaf)' Insurer Financial Strength (IFS) rating on Rating Watch Evolving (RWE). Fitch has also maintained Guardrisk Insurance's Mauritius-based subsidiary Guardrisk International Limited PCC's (GIL) International IFS rating of 'BBB' on RWE.
Fitch Ratings has affirmed South Africa-based MMI Group Limited's (MMI Group; formerly Momentum Group Limited) National Insurer Financial Strength (IFS) rating at 'AA(zaf)' and National Long-term rating at 'AA-(zaf)' and MMI Holdings Limited's (MMI) National Long-term rating at 'A+(zaf)'. The outlooks are positive.
Fitch rating has revised South Africa-based Momentum and Metropolitan, as well as their ultimate parent MMI, outlook to positive from stable.
Fitch Ratings has affirmed South Africa-based Momentum Group Limited's (Momentum) and Metropolitan Life Limited's (MetLife) National Insurer Financial Strength (IFS) ratings at 'AA(zaf)' and National Long-term ratings at 'AA-(zaf)'. The Outlooks are Stable. Fitch has simultaneously affirmed both Momentum's and MetLife's subordinated debt at 'A(zaf)'.
Fitch Ratings has affirmed South Africa-based Momentum Group Limited's (Momentum) and Metropolitan Life Limited's (MetLife) National Insurer Financial Strength (IFS) ratings at 'AA(zaf)' and National Long-term ratings at 'AA-(zaf)'. Fitch has simultaneously affirmed both Momentum's and MetLife's subordinated debt at 'A(zaf)'. The outlooks are stable.
Fitch expects that the anticipated merged entity will create a stronger and more competitive, insurance-based financial services group both locally and in Africa with businesses in life insurance (spanning all income groups), healthcare administration, asset management and employee benefits. Furthermore, the agency is of the opinion that the merged entity will benefit from growth opportunities, economies of scale (through MetLife's and Momentum's complementary target markets and resources), cross-selling of insurance-based financial products and capital efficiencies (through further risk diversification as part of an ongoing capital management programme).
