MMI was formed from the merger of Metropolitan and Momentum, sizable insurance-based financial services players in South Africa. With market capitalization of R26.7bn and an embedded value of some R31.1bn, MMI was already the third largest life insurer in South Africa when it listed on the JSE Stock Exchange on 1 December 2010.The core businesses of MMI are long and short-term insurance, asset management, savings, investment, healthcare administration, health risk management, employee benefits, and rewards programmes. MMI conducts its business through operating brands Metropolitan, Momentum, Guardrisk, and Eris Properties.