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In 1992, RMB Holdings (RMBH) acquired interest in Momentum Life Assurers Limited. [6] On April 1, 1998, Anglo American Corporation of South Africa Limited (now Anglo American plc) merged its financial services interests with RMBH in order to achieve the objective of a unified financial services grouping known as First Rand. [7]
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RMH also transferred its entire stake in Rand Merchant Bank to Momentum thereby increasing its stake in Momentum Life to 76.4%. [8] In the same year, the group founded Discovery Limited along with Adrian Gore as a subsidiary of Momentum Life. [9] On February 28, 1998 the group founded OUTsurance, a short-term insurance company. [10]
A South American tour group is turning Jonestown into a travel destination, over four decades after it was the scene of the most notorious mass suicide and murder in modern his… Reuters 13 days ago
The FirstRand Group was established in 1998, by the merger of First National Bank of South Africa, Rand Merchant Bank and Momentum Insurance & Asset Management. FirstRand is listed as a "locally controlled bank" by the South African Reserve Bank , the national banking regulator. [ 8 ]
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