OUTsurance will list on the A2X next week, an alternative to Africa’s oldest bourse, the JSE. As consumers seek to cut costs in Januworry, short- and long-term insurance company OUTsurance is betting on their clients’ – and investors’ – loyalty. From next Wednesday, the company will start trading on the A2X, South Africa’s alternative to the JSE.
The move allows shareholders to trade shares on a complementary platform, potentially lowering fees and improving liquidity, according to Moonstone Information Refinery. OUTsurance – which belongs to a class of services many considergrudge purchases– joins the likes of 167 other securities listed on A2X. Overall, the bourse has a market capitalisation of R12 billion.
Among those listed are AngloGold Ashanti, Aspen, Exxaro, Discovery, Growthpoint, Implats, Investec, Mr Price, Naspers, Nedbank, Prosus, Remgro, Sanlam, Sasol, and Standard Bank. This comes as global TransUnion research last year saw a notable uptick in people shopping around for insurance products. Auto insurance shopping in the first quarter of last year was up 10% compared to the same period in 2024.
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Home insurance shopping was up 5% year over year, according to TransUnion. Closer to home, TransUnion found that nearly six in ten South Africansshopped around for a better car insurance dealin the first six months of 2024. Its most recent South Africa Insurance Trends also shows that cheaper premiums and better coverage were the leading reasons that consumers switched car insurers.
Founded in 1998, OUTsurance offers car, household, business, pet and life insurance products. Kevin Brady, chief executive of A2X, said the secondary listing expands shareholder choice. He added that A2X was “pleased” that it could extend OUTsurance’s “innovative, value-for-money products” to shareholders.
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