About the group behind MMI Holdings
MMI Holdings was created when Momentum and Metropolitan merged in 2010. The new listed group became one of the largest insurers in South Africa. It offered life insurance, investments, savings and health products to millions of clients. Later, the holding company was renamed Momentum Metropolitan Holdings. In July 2024 it changed again, to Momentum Group Limited.
The group still operates well-known brands. These include Momentum, Metropolitan, Guardrisk and Eris Properties. The Metropolitan brand continues to serve clients as before. As a result, the MMI name now mostly appears in older bursary adverts and records.
How the group has supported students
MMI Holdings focused its funding on scarce skills in financial services. Its best-known bursary was for actuarial science. The programme was part of the MMI Actuarial Development Programme. It was meant for ambitious students in their second or third year of actuarial studies.
A past advert described five bursaries for study in Cape Town. The award paid for registration, full tuition and residence fees, textbooks and incidental costs. Students could also earn incentive bonuses for exceptional results. Where students lived far from campus, an annual travel allowance covered flights home. In return, the group offered guaranteed employment after successful completion, according to that advert.
Besides money, the programme promised guidance and leadership development. Therefore, the benefits went beyond tuition. Students were mentored into a career in life insurance.
What to know before applying
Details above come from earlier adverts. The number of bursaries, the universities, the closing dates and the employment terms may be different today. Consequently, do not rely on an old advert. Check the Momentum Group careers pages for current graduate and bursary information.
Actuarial science is a tough field. Students usually need strong marks in mathematics and a real interest in risk, statistics and finance. Keep your results high, because funders in this field often ask for proof of consistent progress.
Also be careful with names. If you search for MMI Holdings, you may find pages for Momentum or Metropolitan instead. These belong to the same group. Always apply through official group channels, and never pay a fee to apply for a bursary.
Actuarial science sits between mathematics, statistics and finance. Actuaries price insurance products, assess risk and help companies keep enough reserves to pay future claims. In South Africa, the profession is regulated through the Actuarial Society of South Africa, and students usually complete a university degree followed by professional exams. As a result, funding for study can make a large difference.
If you are interested in finance, actuarial science or related fields, keep an eye on this group. Large insurers regularly recruit graduates and often prefer to hire people they have already funded.
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