Chartis SA ready for business and bullish on Africa

Chartis South Africa, formerly AIG, today announced its official conversion to the Chartis brand.

According to Reinhard Franke, General Manager of Chartis SA, “Chartis is a market leader from day one, serving more than 40 million clients in over 160 countries and jurisdictions.

“We have an unrivalled global footprint with an exceptional understanding of the local market.”

Chartis is bullish on the region’s prospects and sees the potential for organic growth in South Africa, Kenya and Uganda, as well as through expansion into other African markets.

The company is also looking at expanding its product offering in the African market.

“A more African-specific focus is required to make sure the benefits of insurance are made available to more people. Too many insurance products don’t provide relevant cover for the realities of day-to-day lives of millions of Africans.”

On 27 July this year, AIU Holdings in New York (the short-term and Accident and Health insurance operations of AIG Inc) announced its intention to rebrand to Chartis. This was an important step in the creation of a distinct entity separate from AIG Inc, and isolated from its challenges.

The Chartis franchise, including the SA operations, is financially strong and profitable with a combined statutory surplus of US$32.1 billion worldwide at year-end 2008. The Chartis claims service, its expertise and network of 345 offices is unmatched in the insurance industry.

“We have a history of 47 years of superior service in South Africa,” said Franke. “Although we have taken on a new brand, we maintain our commitment to our clients and to taking the lead underwriting complex risks.”

Franke noted that the name change would not impact clients and that no action was required on their part.

“The rebranding does not affect clients’ policies at all which remain in-force and no amendments are required. All policies issued with the AIG brand prior to 02 November 2009, remain the same and valid.”

Chartis companies are part of an unmatched insurance network with more than 40 million clients globally. Chartis has nearly 10,000 claims professionals across the world, many in specialised units dedicated to particular products. In 2008 the company paid US$26 billion in claims globally.

“This is an exciting time for our company,” said Franke. “Chartis is a financially strong and profitable franchise, and we look forward to operating and expanding under the Chartis brand.”