// Workers AI · dad joke modeWhy did OUTsurance go out? It was out-standing.
 | |
| Type | Public |
|---|---|
| Industry | Insurance Financial services |
| Founded | 28 February 1998 |
| Founder | Willem Roos Howard Aron and René Otto |
| Headquarters | Centurion, Gauteng, South Africa |
Area served | |
Key people | Herman Bosman (Chairman) Marthinus Visser(CEO) |
| Revenue |  R28.49 billion (2023)[1] |
| R4.73 billion (2023)[1] | |
 R3.42 billion (2023)[1] | |
| Total assets | R33.97 billion (2023)[1] |
| Total equity | R12.1 billion (2023)[1] |
Number of employees | 7,467 (2023)[1] |
| Subsidiaries | OUTsurance Holdings |
| Website | outsurance |
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][3]
History
[edit]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
[edit]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
[edit]- 1 2 3 4 5 6 "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.
- 1 2 3 4 "OUTsurance Holdings Limited". OUTsurance Holdings Limited. 30 June 2015. Retrieved 23 March 2016.
- 1 2 "Company Overview of Outsurance Insurance Company Limited". Bloomberg Businessweek. Bloomberg L.P. Retrieved 23 March 2016.
- ↑ "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.
- ↑ "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.
- ↑ "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.
- ↑ "South African insurer Youi sells its 34,000 New Zealand policies to Tower". Stuff.co.nz. Retrieved 24 September 2019.
- ↑ "Minister Carroll MacNeill welcomes OUTsurance to Ireland". 5 January 2024.
- ↑ "OUTsurance Group Annual Financial Statements, 2025" (PDF). OUTsurance Group. 2025. Retrieved 17 July 2026.