September 6, 2011

Securities & exchange Commission
450 Fifth Street, NW
Washington, DC 20549

Attn.: Document Control



RE:	American Depositary Shares
evidenced by One (1)
American Depositary Receipts
representing Ten (10)
Ordinary Shares of
      MMI Holdings Limited (Form F6
File No. 333111300)


Ladies and Gentlemen:

Pursuant to Rule 424(b)(3) under the
Securities Act of 1933, as amended, on
behalf of BNY Mellon, as Depositary for
securities against which American Depositary
Receipts are to be issued, we attach a copy of
the new prospectus (Prospectus) reflecting the
change in ratio for MMI Holdings Limited.

As required by Rule 424(e), the upper right
hand corner of the Prospectus cover page has
a reference to Rule 424(b)(3) and to the file
number of the registration statement to which
the Prospectus relates.

Pursuant to Section III B of the General
Instructions to the Form F6 Registration
Statement, the Prospectus consists of the
ADR certificate with revised ratio change for
MMI holdings Limited.

The Prospectus has been revised to reflect
the new ratio, and has been overstampted
with:

Effective September 7, 2011 the ratio has
changed to Each American Depositary Share
represents five (5) Deposited Shares




Please contact me with any questions or
comments at 212 8152852.



Kimberly Schwarz
The Bank of New York Mellon  ADR
Division
Encl.
CC: Paul Dudek, Esq. (Office of International
Corporate Finance)









101 Barclay Street, New York NY 10286