Simply Life Insurance Policies

It has been agreed between Old Mutual Alternative Risk Transfer Limited (OMART Life) and Hollard Life Assurance Company Limited (Hollard) to transfer the policies issued through the Simply Cell under the OMART Life insurance licence, subject to approval from the Prudential Authority in terms of section 50 of the Insurance Act, 18 of 2017 (“the Insurance Act”).

This means that Hollard will become the insurer of the policies transferred from OMART Life after approval thereof by the Prudential Authority. No consent from the affected policyholders is required for this transfer.

Hollard Life Assurance Company Limited (registration number 1993/001405/06) ("Hollard") is a public company and a registered short-term insurer incorporated in 1993 and forms part of the Hollard group of companies, a large insurance group in South Africa. Hollard is in a sound financial position.

Old Mutual Alternative Risk Transfer Limited (registration number 1997/008994/06) ("OMART Life") is a private company and a licensed life insurer incorporated in South Africa.

Simply Financial Services (Pty) Ltd (registration number 2011/132479/07) ("Simply") is the administrator of your OMART policy and will remain the administrator once your policy is transferred to Hollard.

It has been agreed between OMART and Hollard to transfer the policies referred to below to Hollard, subject to approval by the Prudential Authority as required in terms of section 50 of the Insurance Act 2017 (“Insurance Act”). Hollard will accordingly become the insurer of the policies after approval of the transfer by the Prudential Authority ("Proposed Transfer").

The policies affected by the proposed transfer are all life policies underwritten by OMART Life as part of the Simply Family Cover, Simply Funeral Cover and Simply Domestic Cover product ranges ("the Transferred Policies").

Yes, your broker will remain exactly the same.

The Transfer Policies will be transferred to Hollard as part of a transfer of business transaction concluded between OMART Life and Hollard.  This means that Hollard will become the new insurer of the Transfer Policies.

This agreement is subject to the approval by the Prudential Authority (as required in terms of the Insurance Act) and has to follow a detailed regulatory process as described below. 

After approval of the Proposed Transfer by the Prudential Authority, Hollard will become the insurer of the Transfer Policies.

Policyholder consent is not required for a transfer in terms of section 50 of the Insurance Act. It is for this reason that a detailed regulatory process is prescribed that is compliant with the provisions of the Insurance Act and the related requirements of the Prudential Authority. One of these requirements is that the transfer must be approved by the Prudential Authority. The Prudential Authority will therefore carefully consider the transfer and will ensure that your interests are protected at all times.

Your policy terms and your policy benefits will remain unchanged, and your policy benefits will remain secure. The Heads of Actuarial Function of OMART Life and Hollard confirmed that your policy benefits and reasonable benefit interests will remain secure and unchanged. No additional charges or costs will be levied against your policy pursuant to the transfer. The only change is that your policy will, after the approval of the transfer by the Prudential Authority, be underwritten by Hollard and no longer by OMART Life. The only change will be that after the approval of the Proposed Transfer by the Prudential Authority, the Transfer Policies will be underwritten by Hollard and no longer by OMART.

Yes. Policy benefits will remain secured and will be unchanged. No additional charges or costs will be levied against any policy pursuant to the Proposed Transfer. 

The transfer of a portion of the business of an insurance company is subject to a detailed regulatory process that is compliant with the provisions of the Insurance Act and the requirements of the Prudential Authority. One of these requirements is that a transfer of insurance business must be approved by the Prudential Authority.

The following steps in respect of the transfer have already occurred:

1. OMART Life and Hollard gave notice of their intention to conclude the transfer to the Prudential Authority.
2. The Heads of Actuarial Function of OMART Life and Hollard have compiled their reports to the Prudential Authority to indicate the impact (if any) on the policies if the transfer is approved.
3. Notice of the transfer has been published in various newspapers and other forms of communication to ensure that all policyholders, shareholders and other stakeholders receive adequate notice of the transfer.
4. OMART Life and Hollard have submitted an application to the Prudential Authority for approval of the transfer.

Any owner of a Transferred Policy, shareholder, creditor or other interested party affected by the transfer, shall be entitled to file an affidavit or other documents and to make representations to the Prudential Authority on any matter in connection with the transfer. These representations must reach the Prudential Authority by no later than 30 September 2026. If you do not have an objection to the transfer, you do not have to file affidavits or make representations. Once the Prudential Authority approves the transfer, your policy will be automatically transferred to Hollard.

Please note that the National Financial Ombud Scheme will not be able to assist you in this matter.

1. Submit the IF024 application form (including annexures, e.g communication plan) to the Prudential Authority.
2. Prudential Authority to consider the application forms and provide feedback on the communication plan and other issues arising from the application forms (if applicable).
3. Update proposed policyholder communication plan, communication documents and timelines with comments received from the Prudential Authority and send revised documents to the Prudential Authority.
4. Prudential Authority to receive and consider the final report received from the independent actuary (if applicable).
5. Submit a full list of documents to the Prudential Authority for inspection.
6. The Prudential Authority to provide an in-principle approval of the implementation of the timeline and proposed policyholder communication plan.
7. Prudential Authority to confirm list of documents to be made available for inspection.
8. Implementation and roll-out of approved policyholder communication plan. (A three-week period is provided for the printing and distribution of the letter. This period takes into account that the communication notices should reach policyholders before commencement of the inspection period).
9. Documents to be made available on the websites of Hollard, Simply and OMART Life.
10. Call center of Simply to become operational in relation to complaints and/or inquiries received through the Simply call center in respect of the Proposed Transaction.
11. Hollard and OMART Life to communicate with affected policyholders through Simply.
12. Submit notice for publication to newspapers as required by the Prudential Authority and as set out in the approved policyholder communication plan.
13. Notice appears in newspapers as required by the Prudential Authority.
14. Tear-sheets of all publications to be delivered to the Head of OMART Life Internal Audit Function.
15. Documents made available for inspection on the websites of OMART Life, Hollard and Simply from 14 August 2026 to 30 September 2026 (the "Inspection Period"), during which all persons who have an interest in the transaction may make representations to the Prudential Authority.
16. Hollard and OMART Life to compile a report on the implementation of the approved policyholder communication plan and furnish such reports to the head of the internal audit function of Hollard and OMART Life.
17. Prudential Authority to deal with possible complaints and enquiries received during the inspection period.
18. Heads of Hollard and OMART Life internal audit function review and report on the process.
19. Heads of Hollard and OMART Life internal audit function submit report to Prudential Authority for consideration.
20. Receive the Prudential Authority's written approval of the Formal Application.
21. Within sixty (60) days of the date of the approval of the Formal Application, furnish the Prudential Authority with statements E9 and F1 that refer to the positions of OMART Life and Hollard on the day immediately preceding the effective date of the transaction and as at the commencement of business on such date.

You are allowed to make representations to the Prudential Authority, OMART Life or Hollard if you have any concerns about the transfer. These representations must reach the Prudential Authority, OMART Life or Hollard no later than 30 September 2026.

Copies of the documents listed below will be available for inspection for a period of 30 (thirty) days, commencing 14 August 2026 to 30 September 2026, from 09h00 to 16h00 (excluding Saturdays, Sundays and public holidays) at the reception areas of the registered offices of:
 

• OMART Life: Mutual Park, Jan Smuts Drive, Pinelands, Cape Town, 7405;
• Hollard: 22 Oxford Road, Parktown, Johannesburg 2193; and
• Simply: Grove Exchange, 9 Grove Avenue, Claremont, 7708

The above information will also be available for inspection during the above period on the website of OMART Life and on the website of Hollard.

The following documents will be made available for inspection:

• The transfer agreement concluded between OMART Life and Hollard.
• A copy of the section 50 formal application to the Prudential Authority.
• All communication notices issued by OMART Life and Hollard as part of the transfer process.
• Any other documents as prescribed by the Prudential Authority.

Please direct all queries as follows:

OMART Life

Email: omregaffairs@oldmutual.com
Phone: 021 753 3705 (not a toll-free number)

Hollard

Email: mycomplaint@hollard.co.za
Phone: 0800 935 465

Simply

Email: queries@simply.co.za
Phone: 021 045 1513 (not a toll-free number)

Financial Sector Conduct Authority (FSCA)

Email: eileen.baduza@fsca.co.za

Alternatively, please direct your enquiries to the Prudential Authority per email at sarb-pa@resbank.co.za.