Identifying a need to help care for miners who were injured while on duty, RMA was founded in 1894 by three mining companies on the Witwatersrand as a non-profit mutual assurance company.
To this day it remains a mutual association which means that the policy holders are also the shareholders.
RMA Life Assurance Company Limited (RMA Life) was established in 1990 as a wholly-owned subsidiary of RMA to manage the pension benefits payable to claimants and their beneficiaries.
As legislation governing workers’ compensation evolved, RMA was granted the right to continue providing compensation to the mining industry under licence from the Minister of Labour. This licence was granted in terms of the Compensation for Occupational Injuries and Diseases Act (COIDA) for Class IV (Mining), and was extended to include Class XIII (Iron, Steel and Metal) from 1 March 2015.
The RMA Group also operates under both long- and short-term insurance licences issued by the Financial Services Board (FSB).