Together, we can - Metropolitan
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Let’s talk
Speak to your Key Account Manager today
Call us 0860 724 724
Email marketaccess@metropolitan.co.za
Visit us www.metropolitan.co.za
Postal address PO Box 2212 Belville 7535
Join our world
@MetropolitanZA
@Metropolitan_ZA
@MetropolitanZA
Together, we can
Metropolitan Life is part of Momentum Metropolitan Life
Limited, a licensed life insurer and authorised financial services
(FSP44673) and registered credit provider (NCRCP173).
PROSPECTUS Helping our clients achieve their financial life goals
We’re part of the
Momentum Metropolitan family
Momentum Metropolitan Holdings are accountable for the entire
Limited, based in South Africa, is a value chain of their businesses.
financial services Group listed on the Business units consist of Momentum
Johannesburg Stock Exchange and Life, Momentum Corporate,
on the Namibian Stock Exchange Metropolitan Life, Momentum
with a secondary listing on the Investments, Momentum Metropolitan
A2X Markets Exchange. Life Africa, Guardrisk, Momentum
DOING BUSINESS IN
Short-term Insurance, Momentum
The Group delivers its products and Insurance (previously Alexander Forbes AFRICAN
services, which include life insurance, Insurance), Eris, Momentum Multiply COUNTRIES
savings and investments, healthcare and Momentum Money. Our leading
and non-life insurance and value-adding client-facing brands are Momentum and
client engagement solutions to Metropolitan, staffed by over 13 000 BILLION
ASSETS UNDER MANAGEMENT
individuals, companies and institutions employees with a nationwide footprint.
through its portfolio of businesses.
The Group’s federal operating Our purpose is: To enable businesses LEADING BRANDS
Insurance
model promotes an entrepreneurial and people from all walks of life to Asset Management
mindset in its business units, which achieve their financial goals and life Employee Benefits
Investment Savings
Rewards Programmes
Health Care
Property Management
01 | METROPOLITAN LIFE PROSPECTUS
aspirations. As a Group, we have a proud Charter (FSC) reflects our commitment,
legacy of leading the empowerment through our transformation strategy,
of people in the financial services to move beyond compliance and actively
PASSIONATE industry. We also believe in aligning contribute to a transformed, vibrant
EMPLOYEES! with like-minded companies by offering and globally competitive financial sector
beneficial partnership solutions. For us, in South Africa.
it’s all about our clients and their needs.
Our Group model is structured into Our cumulative investment in the
full value chain business, a products empowerment finance component
and solutions business, and Group-wide of the FSC B-BBEE codes is R34.3 billion,
functions. This way of working encourages which includes a R1.6 billion investment
growth and has a practical focus on in renewable energy.
the client.
During F2020 we invested over
Momentum Metropolitan is also the R70 million in enterprise and supplier
first major insurance Group to achieve development and supported 741 SMEs.
a Level 1 B-BBEE rating, under the We also substantially exceeded our
revised Financial Services Charter. preferential procurement targets.
Our Group’s status as a Level 1 Broad-
Based Black Economic Empowerment
(B-BBEE) contributor and our
participation in the Financial Services
METROPOLITAN LIFE PROSPECTUS | 02
Committed to moving beyond compliance Our Group’s status as a Level 1 Broad- to a transformed, vibrant and globally DURING F2020 WE INVESTED OVER Based Black Economic Empowerment competitive financial sector in South Africa. MILLION (B-BBEE) contributor and our participation During F2020 we invested over R70 million IN ENTERPRISE AND SUPPLIER in the Financial Services Charter (FSC) in enterprise and supplier development DEVELOPMENT AND SUPPORTED reflects our commitment, through our and supported 741 SMEs. We also SMEs transformation strategy, to move beyond substantially exceeded our preferential compliance and actively contribute procurement targets. 03 | METROPOLITAN LIFE PROSPECTUS
A responsible
corporate citizen
The Momentum Metropolitan Group positive, measurable difference to youth learners can quickly use to earn an income.
qualifies for inclusion in the FTSE4Good unemployment among 16 to 25-year olds. Our investment in making a measurable
Index Series and the FTSE/JSE Responsible Despite the interruption of our efforts by difference to youth unemployment is
Investment Top 30 Index. We are the advent of the Covid-19 pandemic we also contributing to the achievement
signatories to the United Nation’s (UN) were able to help 750 young people find of the United Nations (UN) Sustainable
Principles for Responsible Investment (PRI) employment in F2020, 40% of whom were Development Goal (SDG) 4 and 8.
(see ww.unpri.org for more information) female. We have found that job security is The Group invested R28 million in its
and The Momentum Metropolitan greatest for students who have completed youth employment, financial literacy and
Foundation, an independent not-for-profit our ICT programmes. As a result, we are staff volunteer programmes in F2020.
company, has mandated our corporate including a greater variety of lower level
social investment team to make a IT skills training in our programme that
METROPOLITAN LIFE PROSPECTUS | 04
Our support of society, small business and communities during the Covid-19 lockdown The Group’s efforts to protect the to water and enable testing. We also Guardrisk contributed to the vulnerable from the impact of the contributed to government’s Solidarity South African Future Support Covid-19 lockdown included making fund, which provided financial and Trustto support small businesses donations in emergency funding available resourcing support for Covid-19 that were unable to operate to the Red Cross and the United Nations relief efforts. Our Group Chief during lockdown. In totality, we Children’s Fund (UNICEF) and our Executive Officer also donated one provided more than R500 million partners working in communities third of his salary for three more in client relief related to the pandemic, to distribute food, provide access months to the solidarity fund. from March to June 2020. Committed to good governance The Group applies the King IV experienced board. The majority of its which requires that a minimum of recommended principles throughout board members are independent 50% of its board members are black. its South African business and applies non-executive directors (70%). Its gender Currently, 35% of the members of the appropriate and bespoke best practice diversity and promotion of racial diversity board are female. The board still needs governance in all the countries in which policies include a target for female to meet its racial target as currently it operates. It has a diverse, skilled and membership of 30% and a racial target, 47% of its board members are black. 05 | METROPOLITAN LIFE PROSPECTUS
Our purpose
is to enable businesses and people from
all walks of life to achieve their financial
goals and life aspirations. The best interests Our values
of our employees, clients and society
remain top of mind as we navigate new
territory and adapt to a new reality
brought about by the Covid-19 pandemic.
Accountability Diversity Excellence
Innovation Integrity Teamwork
METROPOLITAN LIFE PROSPECTUS | 06
Metropolitan Life Introducing
– at a glance Metropolitan Life
Metropolitan Life is a part of Metropolitan Life is one of the largest long-
Momentum Metropolitan Life Limited term insurance companies in South Africa,
with client-centric solutions at our core.
Metropolitan Life was established over
120 years ago in 1897 as the African Homes
doing business proudly employed Trust with the purpose of providing finance
to those who could not afford to buy their
own homes.
years employees
We have grown from a one office-business
in Paarl in the Western Cape province
empowered clients average monthly claims pay-out into one of the largest financial services
companies in South Africa with over
million+ million+ 140 branches in South Africa and service
centres in Namibia, Botswana, Kenya,
(2018/2019 financial year)
Ghana, Lesotho and Swaziland and over
2.1 million life policies in issue in 2020.
across South Africa for the second year in a row
Metropolitan Life remains committed to its
worksites and B-BBEE status original purpose of serving and empowering
South Africans through accessible financial
branch offices
(under the revised FSC)
solutions through the best of times and the
07 | METROPOLITAN LIFE PROSPECTUS
most challenging of times. This commitment provide the freedom to discuss matters people, businesses and communities with
is reflected in the design of our products such as these in an open and fair manner. accessible financial solutions.
which, because they have always made
provision for the hard times our clients Fuelled by a legacy of over 120 years, Together, we walk the journey
may experience, protected our clients we have been right there by our clients’ with our clients – from the
during Covid-19. side, helping them shape their futures executive making the decisions
by empowering them to make informed to the employee benefitting from
Metropolitan Life, in partnership with and insightful choices. We hire from the the right choice.
the Unite4One movement, donated communities we work in and we have a
100 000 face masks, which were dynamic branch structure ensuring access Metropolitan Life is that choice because you
distributed to over 150 schools in to our business. We are developing new can count on us to deliver by empowering
vulnerable communities across the digital ways to provide even greater your employees or members to plan and
West Cape province, when grade 7 access. Most importantly, we focus our reach their financial goals.
and 2 learners returned to school in attention on client centric insights to help
June 2020. This donation was in response us understand and develop solutions and They have a story to write. Rely on us
to the government’s appeal for corporates services that suit the needs of our markets. to enable them to do exactly that,
to assist with the provision of personal We’ve entrenched this position because we as the right-fit financial partner for
protective equipment for use in schools. believe in the power of the collective. your business.
We boldly started a conversation about
the mental effects of Covid-19 on South We get that every South African has their
Africans and through all national channels own story to write. That’s why we are so
provided assistance of life coaches to passionate about servicing and enabling Together, we can.
METROPOLITAN LIFE PROSPECTUS | 08Metropolitan Life
Executive Committee
Peter Tshiguvho Japie Mostert Berniece Hickmann
CEO Metropolitan Life Sales Channel Metropolitan Life GetUp
Abulela Gazi Thabo Moloi
Client & Business Solutions Service & Operations
Llewellyn Allen Irwhan Rakiep
Marketing Information Technology
Etienne le Roux Lyn Muzondo
Finance & Risk Human Capital
Legal & Compliance
09 | METROPOLITAN LIFE PROSPECTUSAttracting, developing and
retaining the best people
Metropolitan Life wants to be an people’s development. Equipping our
employer of choice and we want all employees with the skills they need to
our employees to feel inspired, motivated better serve our clients, grow the business
and engaged. We are working hard to and adapt to the changing world of work
achieve this. Our human capital strategy are key focus areas of our learning and
is focused on achieving high performance development programmes. This will allow
through an enabling and values-driven us to understand both your world as an
culture, that attracts and retains the best employer decision maker but to also ensure
and diverse talent and invests in its that you get the best from our best.
Treating customers fairly
We believe in doing the right thing, sticking that we deliver specific clearly set out
to our word and treating all people with fairness outcomes for our clients.
the same amount of sincere, generous This goes beyond our regulatory duties
respect. We are committed to being but into the very way we go about our
transparent, courageous and building trust business. From the way our policies are
by always acting in the best interests of presented to ensure ease of use and
our stakeholders. Our responsibility for understanding to the financial literacy focus
treating customers fairly includes ensuring we hold with employees in our Blueprint.
METROPOLITAN LIFE PROSPECTUS | 010Together, let’s write a story
to be proud of
Just as our client is at the core of Together we can be there for them
every decision at Metropolitan Life, at every step, as they write their
we understand that your team is at the journey page by page.
heart of everything that you do.
Building Securing Growing Enjoying
financial wellness financial wellness financial wellness financial wellness
Dignified funerals Financial security Retirement savings Savings investment
(disability/critical illness/death) Pension investment
Impactful education Voluntary savings
Daily cash during and protection Savings
hospitalisation Retirement income
Life cover
011 | METROPOLITAN LIFE PROSPECTUSWe don’t just paint
by numbers. We see
the full picture
Metropolitan Life offers customisable
solutions that meet the changing needs
and goals of every client.
As a decision-maker, we understand that
you’re looking for the best solution for
your business and your employees, or A YEAR ON YEAR REPRESENTATION OF NEW BUSINESS ACQUIRED
your union or society and its members.
SUM OF 2012 SUM OF 2018 SUM OF 2019
Our personalised, engaging approach
and wide network make us the perfect
partner, whatever each unique set-up 1000
is. Our solutions are readily accessible
through a combination of agents,
APE AND MILLIONS
brokers and an outbound call centre. 500
Continued growth, year-on-year, is
testament to the positive impact we
continue to have on South Africans, 0
their businesses and communities. PROTECTION LONG-TERM SAVINGS ANNUITIES AND STRUCTURED
METROPOLITAN LIFE PROSPECTUS | 012A WORD FROM OUR CEO
At Metropolitan Life, we believe
Peter Tshiguvho in the power of our products to
empower South Africans to grab
a hold of their financial aspirations
and see them realised. We take
this chance to make a difference
in everyday lives seriously. It’s what
gets up us up in the morning.
Our goal is to see our products
in every household.
013 | METROPOLITAN LIFE PROSPECTUSWe’re a strong
brand with a
unique vision
Our vision is clear: we want to empower
every household with our products.
We strive to work hand-in-hand with
every individual client and every shared
scheme to empower them to achieve
these goals together.
That’s why our business is centred
around providing solutions that keep
our client at the heart of everything
we do. Metropolitan Life partners with
dreams and aspirations to see them
fulfilled, fuelling the success of individuals,
businesses and communities.
METROPOLITAN LIFE PROSPECTUS | 014Our customer
value proposition
Demystifying Debt
Our B2B offering consists of the following well-structured financial education modules that
Debt is pubic enemy number 1.
we make available for you and your employees.
S essions on the dangers of debt,
We offer advise on these modules: how to get out of it and prevent it.
RA
Radiant Retirement ES D Money Management
IC IA
O N
CH T
RE
Interactive, educational retirement H udget Planning – including
B
C AS TI
RE budget calculator.
sessions/workshops/seminars.
R M
E VE EN
T
S mall group sessions for retirees to CL Debt Management
share information on post retirement
planning, the various investment
E NT
options at retirement etc.
FIN
Clever Cash Choices
GEM
AN
Enabling people from all
walks of life to achieve
C IA
NA
their financial goals and F inancial Literacy module aimed
Financial Fitness life aspirations.
L
at assisting with making better
MA
F IT
financial decisions.
EY
NES
ellness day events to do screening
W
N
tests, such as BP cholesterol and odule to cover basic financial
M
MO
S
BMI (body mass index). planning principles, planning for
DEMYSTIFYING DEBT life goals, financial concepts
F un engaging events based on the i.e. debt – good debt/bad debt,
core Blueprint module. interest rates, inflation etc.
015 | METROPOLITAN LIFE PROSPECTUSProduct basket analysis:
Competitor offering
A COMPARISON OF METROPOLITAN LIFE’S PRODUCT BASKED AGAINST COMPETITORS
OFFERING METROPOLITAN LIFE COMPETITOR 01 COMPETITOR 02 COMPETITOR 03
Funeral
Credit life
Protection
Discretionary savings
Retirement savings
Annuities
Health
Transactional banking
Lending
Payment solutions
METROPOLITAN LIFE PROSPECTUS | 016We also aim to resolve most
queries at first contact:
paid within 4 hours
of funeral claims
Our clients have a voice. paid within 5 days
And we’re always listening. of maturity claims
Our clients score us highly, We consistently and proudly achieve
following our service interactions. an average score of above 8.5 out
of 10, month-on-month for general
‘Voice of the Client’ is our finger service interactions.
on the pulse. This satisfaction measure
is an important part of our continued For the first quarter of the 2019/2020
effort to understand how happy financial year, Metropolitan Life’s
or unhappy clients are with their average score was 8.81 for general
Metropolitan Life experience. service interactions.
017 | METROPOLITAN LIFE PROSPECTUSAwards and
client testimonials
Metropolitan Life’s sales
and service efficiencies:
An extract from the 2019 Integrated Report:
Metropolitan Life was once again
recognised as an industry leader “Wow! Thank you for what you have done for our family.
in the South African Customer My mother had a dignified funeral, just because you helped us so swiftly.”
Client A
Satisfaction Index (SACSI). We also
received first place in the Ask Afrika
Index and consistency rank highly
in the well-known Sunday Times “Thank you for going the extra mile and checking up on us afterwards.
Top Brands survey where we were This says a lot about your customer service, which offers support to bereaved families.”
placed second. This was powered
by a successful call-to-action funeral Client B
policy marketing campaign.
The Metropolitan Life claims service
was exceptional with almost 90%
Winner of multiple awards for service excellence:
of funeral claims being paid within
four hours. In addition, 95% of all
our services interactions are resolved
in the first interaction, whether in our
branches or through our call centres.
METROPOLITAN LIFE PROSPECTUS | 018You can also read
