Change in shareholding in Zurich South Africa

Zurich South Africa’s Board of Directors today announced that Royal Bafokeng Finance (Proprietary) Limited (RBF) and SA Fire House Limited (a subsidiary of Zurich Insurance Company Limited, Switzerland) (Zurich) have entered into a mutual agreement whereb

In a joint statement, Saad Mered, Chief Executive Officer of Zurich’s Middle East and Africa Region and Guy Munnoch, Chief Executive Officer, Zurich South Africa said: “This transaction reaffirms Zurich’s commitment to South Africa and the Southern African market. Zurich South Africa has greatly enjoyed the relationship we have shared with Royal Bafokeng Holdings. We will remain strong supporters of Royal Bafokeng’s socio-economic development programme with a focus on improving levels of literacy and numeracy in schools.”

Zurich South Africa remains fully committed to its Black Economic Empowerment commitments and, in 2011, was ranked as a Level 3 contributor in terms of the DTI Codes of Good Practice.