MMI: A return to individual identities
Momentum and Metropolitan retail units set out to boost their own brands as part of the ‘reset and grow’ strategy
When MMI was formed in 2011 though the merger of Metropolitan and Momentum, it held 24% of SA’s life insurance market share. Fast-forward to 2017, and that figure has shrunk to 17%. Earlier this year, CEO Hillie Meyer estimated that it had fallen to 11%. At the end of its 2018 financial year, the Momentum and Metropolitan retail units reported double-digit declines in earnings, dragging down the rest of the group. Meyer says the "financial wellness" repositioning under the MMI umbrella drowned the brands’ individual identities and is not resonating with some of its traditional customers. Now, eight years after the merger, the two brands are re-establishing their identities. The MMI marketing team has launched a brand campaign for Metropolitan, just a few weeks after Momentum aired its own. Revitalisation of the Momentum and Metropolitan client-facing brands has been identified as one of the means to meet MMI’s "reset and grow" strategy, which aims to increase earnings and set the bu...
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