The Tribunal has unconditionally approved the large merger between Old Mutual Insure Limited and Genric Insurance Company Limited.
 
The Old Mutual Group is a diversified African financial services group that offers financial solutions to retail and corporate customers. It operates across various lines of business in the financial services industry including life and savings, property, asset management and banking and lending. The Old Mutual Group is a licenced non-life insurer, providing services to personal, commercial and corporate clients. Its products cover non-life insurance solutions such as property, transportation, motor, accident and health, guarantee, liability, engineering and miscellaneous insurance in South Africa.
 
Genric (and all firms that it controls as well as the firms controlled by those firms) is a licensed non-life and specialist insurer. It focuses on bringing innovative and niche insurance solutions to the market by partnering with specialist underwriting management agencies, start-up businesses, insuretech innovators and brokers. Its product portfolio includes appliance warranty, brick and mortar, car hire insurance, gadget insurance and excess waiver insurance.