The history of Momentum
Momentum was established in 1966 and has grown organically. 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 in 1987, creating Rand Merchant Bank (RMB) as a wholly-owned subsidiary. 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.The new holding company, FirstRand Limited, became the largest financial services company on the Johannesburg Stock Exchange (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 contributed to making Momentum one of South Africa's leading insurance and asset management providers.
In December 2010, Momentum and Metropolitan Holdings merged to form the listed entity MMI Holdings. As part of the MMI Holdings group, Momentum continues to offer superior financial services in the advice, insurance, investments and health areas; contributing to the financial wellness journey of each of our clients.