OUTsurance expects to deploy another €60 million (R1.2 billion) to its Irish venture over the next six years as it continues to evolve into a fully fledged multinational property and casualty insurer.
The Centurion-based firm, whose offshore premium income now exceeds that from SA, has already deployed €100 million (R2.01 billion) to its Irish venture, mostly for regulatory purposes, ahead of its official launch in the EU market during the second quarter.
While it's augmenting the business with extra capital, it plans to break even in Ireland in year five.