Saturday Star

Can a mutual society mould makes things better?

According to media reports, mutual societies are enjoying a renaissance in the financial services sector in some parts of the world. In Japan, mutuals and co-ops have 39.2% of the insurance market and in Canada, it’s 17.4%. The Vanguard Group, the second largest money manager in the world, managing $8.4 trillion in assets is also structured as a mutual organisation. South Africa technically only has two pure-hearted mutual societies left, PPS and Avbob, following the de-mutualisation craze in the nineties which saw financial bigwigs like Old Mutual and Sanlam take their shares to market.

A mutual organisation or society is an organisation – which is often, but not always, a business – where members

You’re reading a preview, subscribe to read more.

More from Saturday Star

Saturday Star4 min readInternational Relations
Be Best Guests, Zimbabwe Envoy Tells His Citizens In SA
The official residence of Zimbabwe’s Ambassador to South Africa David Hamadziripi was a hive of activity as scores of diplomats, South African government officials, captains of industry and media gathered for a grand reception marking 44 years of ind
Saturday Star1 min read
Suzuki Looks To Racing Veterans To Bring Home Simola Silverware
Suzuki Auto South Africa has entered three new Swift Sport models in this year’s Simola Hill Climb in Knysna, scheduled from May 2 to 5. This is the third year in a row that Suzuki will compete for the silverware in class A1 of the King of the Hill c
Saturday Star2 min read
Back To Form Downs Ready For Richmond
THE outcome of today’s Mamelodi Sundowns Ladies versus Richmond United clash at De Aar Merino Park Stadium, in the Northern Cape, could have a dramatic effect on the log positions (kick-off 3pm). Sundowns (15 points) head the log, and Richmond (12) a

Related Books & Audiobooks