Outsurance sells New Zealand insurance business
Rand Merchant Investment Holdings says the sale of Youi Holdings will release capital of up to NZ$13m
Outsurance, the 89%-held subsidiary of Rand Merchant Investment Holdings (RMI), has agreed to sell its New Zealand insurance business Youi for up to NZ$13m (R122m).
Outsurance has not had an easy ride in New Zealand where it has previously run into trouble with regulators and, in 2016, was fined NZ$100,000 for poor sales conduct. ..