RMI, which owns 89% of the short-term insurer, said it conducted a detailed country and company analysis to identify potential target investments.
Herman Bosman, chief executive officer, RMI, said: “In many ways, we are pleased to conclude that the best opportunity for RMI’s shareholders in the short-term insurance market lies in our very own, home-grown champion, OUTsurance. It’s logical, in line with our commitment to maximising value, for RMI management to step back and afford shareholders direct access.
In line with its policy to return excess free cash, RMI has declared an ordinary and special dividend of R2.54 billion or 165.5 cents per share.
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