Metropolitan Life

At Metropolitan, we’re interested in “Creating prosperity for Africa’s people” and we aim to achieve this through affordable financial solutions that create financial growth and security. We aim to grow wealth and support the health of Africa’s people by providing them with specialised medium to long-term insurance, administration and investment solutions.

Metropolitan primarily targets the lower and middle-income markets in southern Africa and it is the largest financial services group to do so. Our competitors include four large financial services conglomerates and a couple of smaller, niche life insurance businesses. We are among the top three life insurance groups in southern Africa in terms of numbers of clients. The products offered by Metropolitan range from assurance of individuals, retirement annuities, medical aid products, unit trusts, and investment products, credit life benefits and employee benefit packages for both large and small companies.

Metropolitan’s humble origins date back to the closing years of the 1800’s. Back then it was known by another name: the African Homes Trust Ltd, and the nature of its business (which was to assist in the building of homes) was very different from what it is today.

Today, Metropolitan (now 109 years old) is a well-established, truly African-based business providing aspirational individuals, and the people who represent them, with customised financial service packages that protect and enhance their assets. Metropolitan’s shareholder, customer, staff and staff share ownership profiles are amongst the most representative in the financial services sector in South Africa.

In shareholding terms, Metropolitan has a direct empowerment shareholding of 17.8%. Indirect empowerment shareholdings (including staff) have not been taken into account.

From a customer perspective, Metropolitan has been providing need-specific financial services in the lower to middle income market for over a hundred years. The majority of existing policyholders (in excess of 80%) are black.

Although the brand accommodates individuals with financial aspirations from across the income spectrum, the group’s focus remains on the lower and middle income markets. Subsidiaries have full operational autonomy, giving them the necessary freedom and flexibility to respond proactively to opportunities and challenges in the marketplace.

The Metropolitan group comprises six independent operating businesses, each with clearly defined areas of focus, performance and profit objectives: retail, corporate, asset management, international, health & card operations.