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OUTsurance was launched on 28 February 1998 as a wholly owned subsidiary of RMB Holdings to provide short-term insurance to individuals. [3] On 1 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.
Youi was founded in 2008 by its parent company OUTsurance, making it the first African company to set up an insurance firm in Australia. OUTsurance is also a Rand Merchant Investment Holdings subsidiary, a South African investment holding company. [5] In 2014, OUTsurance launched Youi New Zealand as the subsidiary of Youi Australia. [5]
In 1752, Benjamin Franklin founded the first American insurance company as Philadelphia Contributionship.In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail.
The medical loss ratio is calculated by comparing claims paid to the amount of premiums collected. The Affordable Care Act (ACA) required that companies spend between 80% and 85% of premiums on ...
Hawaii's Supreme Court ruled Monday that insurance companies cannot file suit against those blamed for the devastating 2023 wildfire on Maui, clearing the way for a $4 billion dollar settlement ...
At the end of the year, when insurance companies assess their margins, they need to make sure their premiums fit the bill of what the company pays in claims, which include damages, repairs, and ...
OUTsurance Holdings Limited – South Africa – 83.6% Shareholding – OUTsurance is a holding company with subsidiaries that conduct both short and long-term insurance activities. [12] Its subsidiaries include: [13] OUTsurance Life Insurance Company – South Africa – 100% Shareholding – Offering life insurance to the South African public.
California lawmakers have created a wildfire insurance fund with access to $21 billion that is meant to ensure that Southern California Edison remains solvent and victims' claims are paid in full.