Real People Life was established in 2015 within the Real People Group, starting off as a registered Long Term Insurer and Credit Protection service for those within the Group. It then evolved into providing individual risk insurance policies to pre-approved customers who had been exclusively selected for various products.

As of 1 July 2020, the Prudential Authority has approved the transfer of the insurance business of Real People Assurance Company (RPAC) to Old Mutual Alternative Risk Transfer Limited (OMART), where Real People South Africa Holdings entered into a Cell Captive arrangement. Simply put all the insurance policies that are currently being underwritten by RPAC (including associated broker contracts), are being transferred to OMART. This means that OMART will become the new insurer of these policies.

It is important to note that this transfer does not affect your policy and that the Prudential Authority and the Financial Sector Conduct Authority carefully consider the transfer in a way that protects your interests at all times.

By aligning with OMART, RPAC is ensuring your best interests as a policy holder are prioritised and protected in the future while remaining cost effective and still offering quality service. This transfer has gone through a detailed regulatory process that needed to meet various compliancy standards, be assessed and approved. Going forward, administration of your policy will be performed by Opco 365 (Pty) Ltd, an entity within the Real People Group.

Should you not wish to have your policy underwritten by OMART, you are allowed to make representations to the Prudential Authority, RPAC or OMORT. Be advised, however, that your policy terms and benefits remain unchanged and secure, as confirmed by the Heads of Actuarial Control Functions of RPAC and OMART.

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