In March 2011, RMB Holdings, Remgro and FirstRand entered into an agreement to restructure their insurance assets. This was done by spanning off their entire insurance portfolios (i.e. MMI Holdings, Discovery Limited, OUTsurance and RMB-SI Investments) to RMI Holdings, a wholly owned subsidiary of RMB Holdings and subsequently unbundling the entire shareholding in RMI Holdings to their shareholders. This restructure was completed on 7 March 2011. The shares of RMIH started trading at the JSE on the same day.RMB Structured Insurance Limited underwrites customer policy benefits for Prime Meridian Direct (Pty) Ltd.
