OUTsurance is expanding the trading venues for its shares after securing approval for a secondary listing on A2X Markets, with the insurer’s stock set to trade on the alternative exchange from 14 January 2026.
The group will retain its primary listing on the Johannesburg Stock Exchange, and its issued share capital will remain unchanged. The secondary listing will allow investors to trade OUTsurance shares on an additional platform at no cost to the company, with potential benefits including lower transaction fees and improved liquidity.
The move comes against the backdrop of a strong financial performance by OUTsurance Group Limited. As previously reported by Moonstone, the insurer delivered a 33.7% increase in normalised earnings for the year to end-June 2025, driven by robust premium growth, an improved claims ratio and sharply higher investment income. Normalised earnings rose to R4.728 billion, while normalised earnings per share increased by 32.8% to 306.2 cents.
Operational momentum was underpinned by 16.8% growth in property and casualty gross written premium, which climbed to R38.8 billion, supported by organic growth in the OUTsurance SA and Youi Direct businesses. Profitability improved further as the group’s claims ratio declined to 53.6%, reflecting favourable natural peril experience and disciplined underwriting.
Against this performance, OUTsurance joins several major insurers already holding secondary listings on A2X, including Discovery, Sanlam, Momentum and Santam.
A2X operates as a licensed exchange under the Financial Markets Act and is regulated by the Financial Sector Conduct Authority and the South African Reserve Bank. It provides a complementary trading venue for secondary listings and currently hosts 167 securities with a combined market capitalisation of more than R12 trillion.
Kevin Brady, chief executive of A2X, said: “For the past 28 years, OUTsurance has delivered innovative, value-for-money products to its clients, and we are pleased to help extend this approach to their shareholders. By listing on A2X, OUTsurance will provide its investors with the benefit of choice to transact its shares on an additional venue with reduced transaction fees and extra liquidity.”
A2X uses Strate to clear and settle all trades and is owned by its founding shareholders, management and staff, alongside African Rainbow Capital, which holds a 20% stake, and empowerment group Nala, which owns 10%.
For OUTsurance, the additional listing broadens access to its shares at a time when the group is delivering strong earnings growth, expanding offshore operations, and returning increased value to shareholders through higher ordinary and special dividends.
