Rmb Si Unclaimed

RMB-SI is active in the short- and long-term insurance sectors. It creates customised insurance and financial risk solutions for large corporates by using innovative financial structures

At the interim reporting date, RMBSI reported a normalised loss of R3 million for the half year to December 2009. In the second half of the year it has made some progress in rebuilding its revenue streams and for the full year to June 2010 it reported normalised earnings of R13 million (2009: R79 million). The outcome over the last six months was driven by increased profitability from its portfolio of underwriting management agencies as well as new business gained, with eleven new transactions being concluded.