About Us

Origin of Prosperity Management Africa

Covering what Matters Most

Founded in Cape Town, South Africa in February of 2000, PMA is a 100% Black-owned financial services provider (FSP), determined to improve our client’s financial wellbeing through bespoke risk solutions. Backed by a team of experts and industry professionals, we provide administrative and consulting solutions to our clients in all aspects of employee benefits and insurance.

In May 1999, PMA’s predecessor, Prosperity Solutions (Pty) Ltd, a national life insurance agency network, entered into an agreement with Prosperity Life, the first black-owned insurance company licensed in South Africa in 1951, to transact as its official distribution channel. New opportunities arose in the employee benefits sector and PMA was established to focus exclusively on the group life market.

PMA’s founders, with their extensive management experience, gained at major insurers in South Africa and Namibia, as well as exposure to reinsurance best practice, enabled PMA to provide exciting new products to existing and potential new clients.

OUR FUTURE

The acquisition of PMA by Octopus Underwriting Managers Agency (Pty) Limited (hereinafter Octopus), a 100% black owned business in September 2022 brings
together a wealth of experience and industry expertise. Octopus has provided business opportunities for PMA to expand revenue growth and now with a team in both Gauteng, the business hub of the country and Cape Town, we are better able to engage and service our clients. At PMA, we have a unique understanding of the cultural customs and beliefs around funerals and death in South African cultures. This enables PMA to better meet our client needs, who are predominantly blue-collar workers. PMA proudly administrates the risk benefits of more than 100 000 employees.

Why Choose Us

Why Choose PMA

PMA is a specialist group life insurance underwriting manager and risk benefit product provider. Our senior executive management team will work directly with the client and its advisors to tailor all products and policies in accordance with the specified requirements. PMA further enables its clients to gain access to specialised and cost-effective pricing models through cell-captive and reinsurance structures.

Clients who become Cell owners are offered conventional insurance capabilities which would otherwise only be enjoyed by licenced Insurers. As a result, the cell owner has a clear financial incentive to profitably manage the risks covered by the program. The main reason for most prospective cell owners considering cell ownership is the opportunity to ‘own’ the insurance underwriting result of their business in terms of underwriting, pricing and administration.

OUR WAY OF WORKING

Mission

To leave a legacy by making an impact on our client’s well-being and their families when they need us the most and also To deliver specialized solutions, our team values integrity, outstanding knowledge, and individualized care. We are dedicated to going above and above in all we do.

Vision

To offer our consumers top-notch services and high-quality insurance solutions that ensure their financial security and longevity. to instill in everyone of our employees a strong feeling of character, belonging, and support in all facets of life.

Our Values

Service Mindset

We are driven by our commitment to deliver exceptional products and professional service to our clients. We will never stop advocating for the needs of others.

Our Partnership

We value our strong client relationships and are defined by how well we take care of them. We are committed to forming long-term mutually beneficial partnerships

Transformation

We prioritize organizational transformation within and aim to develop supplier networks that encompass transformation and diversity and meet BBBEE requirements.

Integrity

We provide and embrace an environment of empathy, honesty, and humanity. We pride ourselves on being trusted by our clients and team. We earn that trust by ensuring everything we do is reliable, consistent, and with the highest level of integrity.

Innovation

By being curious and asking why and how we learn. By learning and turning challenges into opportunities and ideas into creative solutions, we remain innovative and long-term thinkers.