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Credit Ratings



MMI Group Limited

15 June 2017

Moody’s affirms Aaa.za national scale IFS rating to MMI Group Limited

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Guardrisk

15 June 2017

Moody’s affirms Aaa.za national scale IFS rating to Guardrisk Insurance and Guardrisk Life

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Moody's places ratings of South African insurance groups on review

4 April 2017

Moody's places ratings of South African insurance groups on review for downgrade following action on the South African sovereign. The national scale ratings are not affected.

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Moody's assigns an Aaa.za national scale IFS rating to Guardrisk Insurance and Guardrisk Life

7 February 2017

While Guardrisk Insurance and Guardrisk Life are rated Aaa.za on the national scale, Guardrisk International is rated Baa2 on the global scale.

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Moody’s affirms Aaa.za national scale IFS rating to MMI Group Limited

30 January 2017

MMI Group Limited’s Aaa.za national scale insurance financial strength rating reflects the insurer’s top tier market position in South Africa, its solid capital position and its flexible product characteristics.

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Fitch affirms MMI Group and Guardrisk at IFS 'AA+(zaf)'; withdraws ratings

08 June 2016

The affirmation reflects MMI's strong capital position, well-diversified domestic franchise and sound profitability. The agency has simultaneously withdrawn all ratings for commercial reasons.

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SENS announcement - MMI and Guardrisk - Appointment of New Credit Rating Agency and Notice of Rating

27 May 2016

MMI and Guardrisk would like to advise note-holders that they have appointed Moody’s Investors Service as their new credit rating agency

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Moody’s assigns Aaa.za national scale IFS rating to MMI Group Limited

27 May 2016

In the same action, Moody’s assigned the following global scale IFS ratings, which serve as the basis for the national scale ratings: Guardrisk Insurance at Baa2 and GuaMoody’s also assigned a Aa2.za rating to MMI Group Limited’s unsecured subordinated notes on the national scale and a Aaa.za long-term issuer rating to MMIGL.

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Moody's assigns an Aaa.za national scale IFS rating to Guardrisk Insurance Group

27 May 2016

In the same action, Moody’s assigned the following global scale IFS ratings, which serve as the basis for the national scale ratings: Guardrisk Insurance at Baa2 and Guardrisk Life at Baa2.

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MMI Holdings Full Rating Report from Fitch Ratings

19 April 2016

MMI group’s ratings are supported by its solid domestic franchise as one of South Africa’s four largest life insurance groups, with two strong client-facing brands (Metropolitan and Momentum).

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MMI Holdings Full Rating Report from Fitch Ratings

19 April 2016

MMI group’s ratings are supported by its solid domestic franchise as one of South Africa’s four largest life insurance groups, with two strong client-facing brands (Metropolitan and Momentum).

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SENS announcement - Extension of MMI and Guardrisk Fitch Ratings validity

10 March 2016

MMI would like to advise note-holders that the validity period of the MMI and Guardrisk ratings has been extended by the Registrar of Credit Ratings Agencies to 31 May 2016.

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Fitch affirms MMI Group’s and Guardrisk's IFS ratings at AA+(zaf)

08 March 2016

The affirmation reflects MMI's strong capital position, well diversified domestic franchise, and sound profitability. Offsetting these key rating drivers is the group's exposure to the weak South African operating environment, and the risk of earnings volatility stemming from the group's exposure to investment markets.

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Fitch Downgrades two South African Insurance Groups' IFS Ratings

14 December 2015

Fitch Ratings has completed a review covering six insurance groups within South Africa focused exclusively on the impact of Fitch's downgrade of the South African sovereign rating.

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Fitch Assigns MMI Group's Subordinated Debt Issue 'A+(zaf)(EXP)' Final Rating

12 August 2015

Fitch Ratings has assigned MMI Group Limited's issue of subordinated debt securities a final rating of 'A+(zaf)'. The assignment of the final rating follows the completion of the bond issue and receipt of documents conforming to the information previously received. The final rating is the same as the expected rating assigned on 31 July 2015.

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Fitch Assigns MMI Group's Subordinated Debt Issue 'A+(zaf)(EXP)' Rating

31 July 2015

Fitch Ratings has assigned South Africa-based MMI Group Limited's (MMI) proposed issue of subordinated debt securities a 'A+(zaf)(EXP)' expected rating. The rating is in line with Fitch's standard notching practices.

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Fitch Affirms 8 South African Insurers Following Notching Review

31 July 2015

Fitch Ratings has affirmed eight insurance groups based in South Africa or focused exclusively in the country following the application of its recently updated notching criteria for the insurance industry.

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Fitch Ratings - Johannesburg/London-12 March 2015

12 March 2015

Fitch Ratings has affirmed MMI Group Limited's (MMI Group), Guardrisk Insurance Company Limited's (Guardrisk Insurance) and Guardrisk Life Limited's (Guardrisk Life) National Insurer Financial Strength (IFS) ratings at 'AA +(zaf)'.

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Fitch assigns MMI Group's subordinated debt 'A+(zaf)' final rating

28 November 2014

Fitch Ratings has assigned South Africa-based MMI Group Limited's (MMI) ZAR750m issue of subordinated debt securities a 'A+(zaf)' final rating, in line with Fitch's standard notching practices.

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Fitch assigns MMI Group's subordinated debt issue 'A+(ZAF)(EXP)' rating, affirms IFS at 'AA+(ZAF)'

21 November 2014

Fitch Ratings has assigned South Africa based MMI Group Limited's (MMI) proposed issue of subordinated debt securities a 'A+(zaf)(EXP)' expected rating, and affirmed MMI Group's outstanding subordinated debt at 'A+(zaf)'. The rating is in line with Fitch's standard notching practices.

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Fitch upgrades Guardrisk's national IFS ratings to 'AA+(ZAF)'

21 November 2014

Fitch has upgraded Guardrisk Insurance Company Limited's (Guardrisk Insurance) and Guardrisk Life Limited's (Guardrisk Life) National Insurer Financial Strength (IFS) ratings to 'AA+(zaf)' from 'AA(zaf)'. The Outlooks are Stable.

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Fitch assigns MMI Group's subordinated debt 'A+(ZAF)' final rating

14 March 2014

Fitch Ratings has assigned South Africa- based MMI Group Limited's (MMI, IFS 'AA+(zaf)'/Stable) issue of subordinated debt securities of ZAR1.5bn an 'A+(zaf)' final rating, in line with Fitch's standard notching practices.

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Fitch upgrades MMI Group's rating to 'AA+(ZAF)'

15 January 2014

Fitch Ratings has upgraded South Africa based MMI Group Limited's (MMI Group) National Insurer Financial Strength (IFS) rating to 'AA +(zaf)' from 'AA(zaf)' and National Long-term rating to 'AA(zaf)' from 'AA-(zaf)' and MMI Holdings Limited's (MMI) National Long-term rating to 'AA-(zaf)' from 'A+(zaf)'. The Outlooks are Stable. Fitch has simultaneously upgraded MMI Group's subordinated debt to 'A+(zaf)' from 'A(zaf)'.

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Fitch maintains Guardrisk's ratings

07 November 2013

Fitch Ratings has maintained South Africa-based Guardrisk Insurance Company Limited (Guardrisk Insurance) and Guardrisk Life Limited (Guardrisk Life)'s 'AA(zaf)' Insurer Financial Strength (IFS) rating on Rating Watch Evolving (RWE). Fitch has also maintained Guardrisk Insurance's Mauritius-based subsidiary Guardrisk International Limited PCC's (GIL) International IFS rating of 'BBB' on RWE.

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Fitch affirms MMI Group's IFS at 'AA(zaf)'; outlook positive

13 August 2013

Fitch Ratings has affirmed South Africa-based MMI Group Limited's (MMI Group; formerly Momentum Group Limited) National Insurer Financial Strength (IFS) rating at 'AA(zaf)' and National Long-term rating at 'AA-(zaf)' and MMI Holdings Limited's (MMI) National Long-term rating at 'A+(zaf)'. The outlooks are positive.

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Fitch revises MMI and subsidiary outlooks to positive; rating affirmed

14 December 2012

Fitch rating has revised South Africa-based Momentum and Metropolitan, as well as their ultimate parent MMI, outlook to positive from stable.

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Fitch affirms Momentum's and Metlife's IFS at 'AA(ZAF)'; outlook stable

28 March 2012

Fitch Ratings has affirmed South Africa-based Momentum Group Limited's (Momentum) and Metropolitan Life Limited's (MetLife) National Insurer Financial Strength (IFS) ratings at 'AA(zaf)' and National Long-term ratings at 'AA-(zaf)'. The Outlooks are Stable. Fitch has simultaneously affirmed both Momentum's and MetLife's subordinated debt at 'A(zaf)'.

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Fitch affirms Momentum's and Metlife's IFS at 'AA(zaf)'; outlookstable

01 November 2011

Fitch Ratings has affirmed South Africa-based Momentum Group Limited's (Momentum) and Metropolitan Life Limited's (MetLife) National Insurer Financial Strength (IFS) ratings at 'AA(zaf)' and National Long-term ratings at 'AA-(zaf)'. Fitch has simultaneously affirmed both Momentum's and MetLife's subordinated debt at 'A(zaf)'. The outlooks are stable.

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Full credit rating report


Fitch downgrades Momentum and upgrades Metlife to 'aa(zaf)' on anticipated merger; outlook stable

12 November 2010

Fitch expects that the anticipated merged entity will create a stronger and more competitive, insurance-based financial services group both locally and in Africa with businesses in life insurance (spanning all income groups), healthcare administration, asset management and employee benefits. Furthermore, the agency is of the opinion that the merged entity will benefit from growth opportunities, economies of scale (through MetLife's and Momentum's complementary target markets and resources), cross-selling of insurance-based financial products and capital efficiencies (through further risk diversification as part of an ongoing capital management programme).

Summary credit rating report

Full credit rating report


Investor links
MMI investor introduction
2015 Year-end Results Infographic
Investor relations contact
Risto Ketola
Phone: +27 12 671 8566
Email: risto.ketola@mmiholdings.co.za
Estee Sevenster
Phone: +27 12 684 4214
Email: estee.sevenster@mmiholdings.co.za
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