KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATIONCOVID-19 RESOURCE PORTAL

FANews
FANews
RELATED CATEGORIES

Camargue obtains binder from Zurich SA

07 February 2017 Gerhard de Bruin, Camargue
Gerhard de Bruin, managing director at Camargue.

Gerhard de Bruin, managing director at Camargue.

A move that is expanding the Group’s reach and product lines.

Camargue Underwriting Managers (Pty) Ltd (“Camargue”) has confirmed that it has entered into a binder agreement with Zurich Insurance Company South Africa Limited (“Zurich South Africa”). The move signifies the start of a new era for Camargue – one of expansion and accelerated growth.

Following Brit Limited’s ("Brit") strategic investment in Camargue last year, the UMA confirmed its intention to increase its product offering and specialised insurance solutions, and in so doing extend its underwriting reach. This is the first such transaction to be negotiated since the landmark partnership was signed with Brit in July last year.

Camargue will manage Zurich South Africa’s existing short-term stand-alone specialist liability and financial lines policies, while continuing to underwrite on behalf of certain underwriters at Lloyd’s and Compass Insurance Company Limited (“Compass”).

Camargue managing director, Gerhard de Bruin, commenting on the announcement says: “We are really excited to consolidate the synergies of our insurance partners in to provide unique and financially strong insurance products for our customers and brokers. We greatly value our long-term relationships with our insurers and look forward to many years of successful collaboration.”

Edwyn O'Neill, Zurich South Africa’s chief executive officer, added: “Our brokers and policyholders will benefit by being able to tap into Camargue’s full suite of widely recognised products and services. In addition, this partnership provides us with the opportunity to access a larger, more diversified portfolio managed by a larger team of underwriters and claims professionals.”

With the strength of diverse South African and global insurance carriers behind it, Camargue will continue to offer risk management solutions and specialised insurance products to a broad spectrum of industries in Southern Africa.

Zurich SA is expected to announce its new name and reveal its corporate identity later this month [February 2017].

Quick Polls

QUESTION

The Budget Speech 2021...

ANSWER

Certainly taxpayer-friendly, with tax increases being kept to a minimum
Realistic and in accordance with my expectation
Is welcomed news and will go a long way to bolster the economy and South Africa
I have mixed feelings… cutbacks and reprioritisations in government spending pose a significant risk and will come at a cost
Oh no! What about our booze and tobacco! Higher sin taxes
fanews magazine
FAnews February 2021 Get the latest issue of FAnews

This month's headlines

FNA VS Compliance: Advisers still tripping up on section 8(1) of the Code!
Taking the lessons of 2020, into 2021
Motor insurers take note: Replacement parts cannot compromise an insured’s safety!
The broker’s dilemma: Courts lambaste non-life insures for business interruption shortcomings
Leading experts warn the world about the dangers ahead
The world of work 2021… smarter, faster, simpler
Trends that will shape the life insurance industry going forward
Subscribe now