On a Date with First Mutual Holdings Limited (FMHL)

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Dear Investor, as you think of ways to make money don't neglect your health I have a package for you 👇. Welcome to On a Date with a listed company on the Zimbabwe Stock Exchange (ZSE) THREAD: On a Date with First Mutual Holdings Limited (FMHL)

#1. History, 1808, Merchant and banker Thomas Bignold is almost reaching 50 years but is full of ideas. His idea leads him to establish his 2nd mutual society, the Norwich Union Life Insurance Society. 40 years later a group of gentlemen meet in London.

The meeting results in the formation of an enterprise which would later be renamed Prudential Assurance Company 17 years later. 1873, Some 15,500 kilometres away from London in Australia, Melbourne the Colonial Mutual Life Assurance Society is established.

1903, Norwich Union Life Insurance Society sets up an agency in Rhodesia, which later is given to Harry S. Hopkins & Co. 1923, Prudential expands across the globe with its first overseas life branch in Calcutta, India. A tea planter buys its first policy

1931, Prudential opens its African head office in Johannesburg with agents supporting Rhodesia 4 years later. 1990, Prudential Assurance Company of Zimbabwe, Norwich Union Life Insurance Society and Colonial Mutual Life Assurance Co merge their operations

Out of the merger First Mutual Life Assurance Society is born. 9 years later the Douglas Hoto the current CEO joins the business. 2002, National Insurance Co and Diamond Insurance merge to become NicozDiamond Insurance. Grace Muradzikwa leds the new entity.

2003, Demutualization of First Mutual Life Assurance Society and listing on @ZSE_ZW as First Mutual Holdings Limited (FMHL). A process by which a member owned company such as a cooperative legally changes its structure to become a listed company.

2016, First Mutual Wealth Management unit is officially launched though it had commenced operations 2 years earlier. 2017, First Mutual Properties is listed separately on the @ZSE_ZW after a name change from Pearl Properties.

2018, FMHL acquires NicozDiamond resulting in the its delisting after minorities were offered a deal. NicozDiamond is combined with Tristar Insurance to establish a strong short term insurer. 2019, Diamond Seguro in Mozambique is bought 100% by FMHL.

#2. Operations, FMHL is financial services group which operates Zimbabwe, Botswana, Malawi and Mozambique. It is committed to creating value through • Risk Management • Wealth Creation • Wealth Management via the insurance sector!

First Mutual Life Assurance Company The unit offers ° Employee Benefits ° Individual Life Benefits The MAIN activities in the above offers is the provision of LIFE assurance, RETIREMENT benefits and long term financial SECURITY products.

First Mutual Health The unit offers • MEDICAL Aid Cover, there are individual plans, corporate plans and student plans. NicozDiamond Insurance The unit offers, • SHORT-TERM insurance solutions for personal, business and commercial sector

First Mutual Reinsurance The unit offers, • It provides INSURANCE for INSURANCE companies. The insurance company, the cedent transfers risk to the reinsurance company. • The subsidiary has a strategic unit, FMRE Property & Casualty in Botswana

First Mutual Wealth The unit offers, • INVESTMENTS management for individuals, pension funds and enterprises First Mutual Microfinance This unit offers, • MICRO-LENDING through personal loans, SME loans, Agricultural loans, asset loans and order financing

First Mutual Properties This unit offers, • PROPERTY Investment, development and management • Oyster Real Estate is the trading name for First Mutual Properties First Mutual Funeral This unit offers, • FUNERAL service packages

#3. Competitors, FMHL is a major player in the provision financial services in Zimbabwe, Botswana, Malawi, Mozambique. It has notable rivals. ° CBZ Holdings ° ZB Holdings ° FBC Holdings ° Zimre Holdings ° Old Mutual ° Nyaradzo Group ° Cimas

#4. Share Price, 24 ZWL per share as at December 2, 2022. 20 ZWL per share on the 3rd of January 2022. 27th on ranking in terms of year to date performance on the ZSE. 34th most traded stock over the past 3 months to 9/12/2022. 723,443,577 issued shares

#5. Shareholding, According to the 2020 FMHL annual report the National Social Security Authority holds 65.91% of the business In the news a deal has been reported to be in the pipeline for CBZH to acquire a 31.22% stake in FMHL being disposed of by NSSA.

#6. Management, Douglas Hoto - Group CEO of FMHL Credited with building the business from the a single unit to a full fledge financial and insurance services entity. A thick skin business leader who delivered results in the face of hyperinflation.

Brokered a deal to takeover a successful rival NicozDiamond, gaining traction in the short term insurance space. strengmarket share. Douglas Hoto holds a Mathematics degree from UZ and is a qualified actuary with +22 years experience.

#7. Pitch, Geographically diverse, its business though concentrated in Zimbabwe offers a hedge to unforseen changes in the main market since it is in 3 countries. A competent management team lead by Hoto which has supported the growth of the group.

Completed the recapitalization of the Diamond unit in Mozambique to meet the regulatory requirements. Managed to get funds from Aleyo Growth Fund 1 to support the Reinsurance business unit in Botswana to increase its underwriting capacity. Invest @FMHL__

Each week will be on a Date with a company listed on the ZSE The purpose of this thread is to have a minimum appreciation of listed firms. Disclaimer: Do not misconstrue this thread as investment advise DATE companies before you buy its shares.