First Mutual Holdings Limited

First Mutual Holdings Limited was formerly known as Africa First Renaissance Corporation Limited and has been listed on the Zimbabwe Stock Exchange under ticker FML for decades. The group grew into a diversified financial services and property holding company headquartered at First Mutual Park, 100 Borrowdale Road, Harare.

Corporate structure

First Mutual Holdings has core subsidiaries spanning life assurance, medical insurance, non-life (short-term) insurance, property investment and actuarial consultancy. Gross written premiums are split roughly across medical insurance (50.8%), non-life insurance (36%) and life insurance (13.2%). The Group's listed property subsidiary was First Mutual Properties Limited (formerly Pearl Properties), which delisted from the ZSE on 2 July 2026. The Group is governed by a Board of Directors chaired on a non-executive basis, with the Group Chief Executive Officer leading day-to-day operations.