So, this is great for both existing and future Momentum clients, but where does that leave existing AFI clients?
The transaction has seen Momentum acquire 100% of all AFI shares, the IT supporting the business, all trademarks of the business, and has more than doubled their existing client base. Upon completion of the acquisition the Alexander Forbes short-term insurance business will be integrated (in several steps, involving the integration of operations and consolidating product offerings) into Momentum’s insurance branch, and will trade under Momentum’s company brand using one insurance licence.
Alexander Forbes CEO, Dawie de Villiers, has assured clients that they would continue to receive the premium benefits and service offering that they have enjoyed with Alexander Forbes Insurance – a sentiment echoed by Momentum.
This is one the biggest reasons for Momentum’s careful phasing in of the integration, so as to better care for the interests of all clients, business partners and employees of both AFI and MSTI.
Until all systems have been integrated, all clients and employees migrated; both businesses will continue to operate as two separate entities, jointly committed.
The future certainly looks bright.