Old Mutual Cell Captive Solutions

By | October 24, 2017

Old Mutual Cell Captive Solutions

Old Mutual Alternative Risk Transfer Limited (OMART) operates as a business unit within the Old Mutual Group and specialises in customising cell captive solutions for clients wanting to meet insurance and profit-share objectives. OMART offers the actuarial and consulting services, flexible administration, regular financial and management reporting and the facilitation of investment management.

ABOUT OMART

Specialising in customised cell captive solutions for clients wanting to meet insurance and profit-share objectives.

Old Mutual Alternative Risk Transfer Limited (OMART) was established in 2003 and is a business unit within the Old Mutual Group, the largest financial services group in South Africa, a subsidiary of Old Mutual plc. Old Mutual plc is listed on the London stock exchange, the Johannesburg stock exchange as well as Malawi, Namibia and Zimbabwe.

OMART, who provide institutional clients with structured solutions, is a legal entity and is registered by the Registrar of Long-term insurance as a long-term insurer to conduct all classes of long term insurance business. It has its own board of directors, who ensure appropriate corporate governance systems and processes are adhered to, to protect the interest of cell participants and various other stakeholders.
OMART specialises in customising solutions for clients wanting to meet insurance and profit-share objectives. These structured insurance solutions are provided through flexible cell captive arrangements that protect the cell owners interests at all times and ensures control over their life insurance activities.

PRODUCTS AND SERVICES

In creating a structured insurance solution for each client, OMART offers the following services:

  • Actuarial services including product development, valuation of assets and liabilities and solvency assessment
  • Flexible administration options for premium collection, record keeping and claims handling
  • Regular Financial and Management reporting
  • Access to OMART assets to meet capital requirements
  • Facilitation of investment management and reinsurance arrangements

FINANCIAL STRENGTH

The financial strength of OMART is guaranteed by it being part of the Old Mutual Group and having the capital backing of Old Mutual South Africa.

BENEFITS OF USING OMART

  • We have a proven track record
  • Given our size, we are a significant participant in South African Capital Markets
  • Competitive Fees Structures
  • Stringent Collateral requirements
  • Customised structures to meet the insurance and profit sharing objectives of the client
  • A ring fenced cell that is managed separately from other cell owners interests at all times

CLIENTS

OMART has experience in managing a variety of different arrangements and is currently responsible for cells covering predominantly employee benefits, credit life and funeral insurance.

COMPANY DETAILS

Company Name:
Old Mutual Alternative Risk Transfer Limited

Company Registration Number:
1997/008994/06
Company Address:
PO Box 455, Cape Town 8000, South Africa

SOLUTIONS OFFERED

Offering actuarial and consulting services, flexible administration and regular reporting.

Old Mutual Alternative Risk Transfer Limited (OMART) offers:

CELL CAPTIVE SOLUTION

Old Mutual Alternative Risk Transfer Limited (OMART) provides structured insurance solutions to clients who want to manage their own insurance risks or form partnerships to participate in insurance activity. This is provided by setting up a cell within OMART i.e. a ring fenced insurance solution where the client is a shareholder.
The client is rewarded by means of dividends from the cell for any profits that may arise from the insurance activities of the cell. This means that “non-insurance” companies are able to earn profits typically only enjoyed by traditional insurance companies, by gaining access to OMART’s risk management expertise and capabilities.

WHY OLD MUTUAL?

OMART has experience in managing a variety of different arrangements, with our largest client having an API of over R250 million per annum in Credit Life premiums. OMART is also in a good position to negotiate favourable reinsurance rates from within the Old Mutual group and external reinsurance companies.
Many South African institutions have benefited from the cutting edge solutions available from Old Mutual and have appreciated the involvement of the experienced team of professionals in influencing regulatory standards and clarity of interpretation.
Finally, Old Mutual (South Africa) is a significant participant in the South African economy and is the largest and most well-established financial services provider in Southern Africa. Our prominent position in the industry is reflected in our strong operating performance across all our businesses, our good balance sheet position, strong financial flexibility with demonstrated access to international capital markets and diversity of business.