Old Mutual Insure (OMI) has acquired a 51% stake in ONE Financial Services, for R500 million. ONE Financial Services has been operating as an underwriting management agency for Mutual & Federal Risk Financing Limited – wholly owned by OMI. It offers a wide range of niche and traditional insurance solutions and services. OMI said this transaction supports its strategic ambitions of growing and strengthening its distribution capabilities and non-insurance revenue streams.
