FMI, as it is today, evolved out of PSF Investments (Pty) Ltd, a very successful insurance brokerage established in 1979. FMI was formed in 1995 in order to establish a company which conceptualises, designs and manages our own specialised financial products.
They were also established as one of the first income protection providers for the self employed. The formation of a separate entity (FMI) was to take advantage of an area of the insurance market that was not being effectively catered for.
The company evolved out of a need that arose when a broker’s family member fell ill, lost their business and went bankrupt. At that point in time income protection was only available for professionals. As a result he and other like minded brokers recognised that people in business are all professionals in their own right and all deserve income protection cover.
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