What is Old Mutual Alternative Risk Transfer Limited (OMART)?OMART specialises in customising cell captive solutions for clients wanting to meet insurance and profit-share objectives. OMART offers actuarial and consulting services, flexible administration, regular financial and management reporting and the facilitation of investment management.
Our approach begins with a clear understanding of our client's unique circumstances and long-term goals, and continues through a strong collaborative process to support them in realising those goals, through a range of innovative solutions. This approach has enabled our clients to offer everything from full employee benefit solutions to credit life and other risk and investment life insurance products.
We are committed to developing employee potential, supporting development in communities, minimising environmental impact and providing the highest levels of service at all times. OMART is registered as a long-term cell captive insurer.
OMART will tailor a solution to meet your specific risk needs, taking into account your current and future business plans. The cell owner is able to partake in the underwriting profits of insurance, and enjoy the backing of the Old Mutual brand and range of capabilities.
A specific cell will be managed separately from the other cells so that the cell owner’s interests are protected at all times. Old Mutual in conjunction with the cell owner will set up a management board that will help make decisions around your cell’s business. Any profits that emerge will only be shared by the parties that have a shareholding in the cell. OMART also has the ability to white label insurance products.
- 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
- Group risk products: includes death, disability and critical illness products
- Credit Life: Death, Disability, Critical Illness, Retrenchment
- Funeral and other assistance products
- Health insurance products: gap cover and hospital insurance
- 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
- Access insurance expertise and management whilst retaining exposure to risks
- Offer insurance products to cover the life risks of their customers or insure their own risks
- Share in the underwriting profits of insurance
- Structure profit share arrangements for joint ventures
- Insure niche or uninsurable risks
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OMART is registered as a long-term cell captive insurer and, Old Mutual has a Level 2 BBBEE status, which highlights the group’s absolute commitment to transformation.
Importantly, cell captives create opportunities for capacity development and skills transfer. This opens the doors for transformation in the insurance industry, giving black owned start-ups partnership opportunities and access to Old Mutual backed capabilities and expertise.
This process, coupled with our clients’ innovation and growth potential allows our tailormade solutions to evolve with the partnership, resulting in a successful and profitable business.
We provide a range of value added services including the facilitation of reinsurance, investment management, reporting and administration in exchange for a fee. These are core competencies of Old Mutual, and can be arranged to suit specific needs of any organisation.
6th floor, H block Mutualpark
Jan Smuts Drive
P.O. Box 455
Switchboard contact details:
+27 21 504 6423
Tel: +27 21 504 6752
Email: Elsa Beytell