25 Aug 2013

FMRE’s Holding Company has been rebranded from Afre Corporation to First Mutual Holdings Limited with effect from July 23, this year.

First Mutual group chief executive officer, Mr Douglas Hoto announced during the FMRE stakeholders engagement meeting in Gaborone.

Mr Hoto said the change was based on various factors that arose from a brand audit and survey.

One of these factors, he said was that the old holding company name, Afre Corporation, lacked a clear association with its subsidiaries from a brand architecture perspective. 

The brand audit and survey, Mr Hoto said, revealed that the brand was currently viewed principally as an insurance company, and there was a need to strategically position it from insurance to risk management, wealth management and wealth creation.

Other survey findings, he said, revealed that Afre in its old state was very performance oriented, but lacked an emotional connection to give all its stakeholders reason to believe in its aspirations. 

The survey also revealed that rebranding would seek to harmonise the intended differentiator of evidence based product portfolio and superior service delivered via robust systems and long-term investment philosophy.

From these findings, First Mutual group chief executive officer said the consultants recommended rebranding to reflect the views and aspirations of all stakeholders, both internal and external. 

“The new brand would need to be perceived as a customer centric, non-banking financial services group that is focused on risk management, wealth creation and wealth management,”  he said.

Furthermore, Mr Hoto said the survey findings also showed that there was strong brand equity within the group, particularly within First Mutual Life Assurance Company and Pearl Properties. 

“The new name, First Mutual Holdings Limited draws in the history and legacy of the brand to emphasise stability. 

It is a name which has a strong meaning and equity within the market and allows the brand to compete both locally and internationally.”

The name, he said, was chosen as it inspired confidence and heralded a change in shareholding that would have a direct benefit to shareholders. 

He said the new pay off line, ‘Go Beyond,’ empowers the organisation to offer clients the services they need to achieve a life beyond the ordinary. 

The pay off line, he said, also forms an emotional connection between the clients and the brand which is the integral part of the brand strategy. 

It also addresses the role of the subsidiaries in ensuring consumers are offered products and services that allowed them to go beyond their normal expectation, he added. ENDS