INSPENONLINE: Swiss Re Corporate Solutions obtains South Africa licence, sets up office in Johannesburg

Monday, 23 February 2015

Swiss Re Corporate Solutions obtains South Africa licence, sets up office in Johannesburg

ZURICH, Feb. 23, 2015 /PRNewswire/ -- Swiss Re Corporate Solutions announces that its new wholly-owned subsidiary, Swiss Re Corporate Solutions Advisors South Africa Pty Ltd, is now licenced by the South African Financial Services Board to operate in the country as a Financial Services Provider (FSP).

Under its FSP licence, Swiss Re Corporate Solutions Advisors South Africa Pty Ltd will originate, advise on and bind direct commercial insurance business in South Africa through an intermediary agreement with Guardrisk Insurance Company Ltd. Guardrisk Insurance is a South African-licenced non-life insurer, well known in the local market for its reputation and solid financial standing with a Fitch rating of 'AA+' (South Africa-specific).

Swiss Re Corporate Solutions expects to begin operations during the second quarter of 2015 from an office in Johannesburg. The company will provide commercial insurance services to mid- and large-sized corporate clients, focusing on property, mining and engineering risks, as well as customised solutions for the agriculture and energy sectors.

Tony Buckle, Swiss Re Corporate Solutions' Head of Europe, Middle East and Africa, says: "South Africa is a key high growth market for us, based on the scale and sophistication of its commercial insurance sector. The Johannesburg office will be our first local representation in Africa, and it will be a cornerstone of our strategy to provide locally relevant solutions to clients."

Herman Schoeman, Managing Director of Guardrisk Insurance adds, "We are excited about the relationship with Swiss Re Corporate Solutions and the opportunity to collaborate on delivering customised solutions for clients in South Africa."

About Swiss Re Corporate Solutions

Swiss Re Corporate Solutions offers innovative, high-quality insurance capacity to mid-sized and large multinational corporations across the globe. Our offerings range from standard risk transfer covers and multi-line programmes, to highly customised solutions tailored to the needs of our clients. Swiss Re Corporate Solutions serves customers from over 50 offices worldwide and is backed by the financial strength of the Swiss Re Group. For more information about Swiss Re Corporate Solutions, please visit www.swissre.com/corporatesolutionsor follow us on Twitter @SwissRe_CS.

About Guardrisk Insurance Company Ltd

Guardrisk Insurance Company Ltd is a wholly-owned operating subsidiary of Guardrisk Group (Pty) Ltd (www.guardrisk.co.za). Incorporated into MMI Holdings in March 2014, Guardrisk Group is the largest specialist cell captive insurance group of its kind and the leading alternative risk transfer provider in South Africa. Guardrisk pioneered the cell captive concept, introducing cell captives to the South African short-term insurance industry in 1993.

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Lawal is Inspen 2014 insurance man of the year

The former President Chartered Insurance Institute of Nigeria (CIIN) Fatai Lawal has emerged the 2014 Inspenonline Insurance Man of the year.

Fatai who is the the Managing Director Sterling Assurance Nigeria Limited was named today, at the Nigerian Insurance and Pension Award organised by Inspenonline.

Chief Executive Officer Inspenonline Media, Chuks Udo Okonta, said Lawal was picked from the votes casted by the public and other considerations made by the award's panel of assessors.

He noted that the winner raised the bar at the the Institute and the industry by opting to serve a tenure which was eventful and impactful. He added that amongst the legacies left by the winner was the printing and donation of Insurance books to secondary and tertiary institutions aimed at deepening insurance awareness.

Okonta noted that the award, which started two years ago with the recognition of two distinguished individuals and an underwriting company, has now come to stay.

"This year, we decided to raise the bar by setting high standards to judge the operations of companies and impacts made by individuals in moving insurance and pension business forward.

"To achieve this, we gave the public the opportunity to select those to be celebrated by calling for votes. Having harmonised the votes which came from different parts of the country, we benchmarked the scores with the set standard to arrive at the winners we are celebrating today," he said.

Others winners are AIICO Insurance Plc, Insurance company of the year; FUG Pensions Limited, Pension Fund Administrator of the Year; YOA Insurance Brokers Limited and Glanvill Enthoven Insurance Brokers Limited, Insurance Broker of the year.

Professional Excellence Award went to Professor Joe Irukwu; Best Professional Group went to the Chartered Insurance Institute of Nigeria and Association of Registered Insurance Agents of Nigeria; Corporate Brand went to Mansard Insurance Plc and Leadway Assurance Limited while Corporate Social Responsibility Award was won by Sovereign Trust Insurance Plc.

The organisers also recognised organisations that distinguished themselves, with Excellence Award. Organisations in this category include the National Pension Commission, Lagos State Pension Commission, Goldlink Insurance Plc and Pension Transition Administration Directorate.

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