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 intention with lockdown was to delay or flatten the Covid-19 infection curve and give both the private and public healthcare sectors time to prepare for the inevitable onslaught. Did the strategy work?

ANSWER

No, the true numbers are not reflected. Almost a quarter of South Africans may already have been infected with Covid-19
It’s too soon to tell. We will likely get a second wave with stringent lockdown regulations in place again
Yes, South Africa bought enough time to make a significant difference. We saved lives and have passed our peak. The worst is over
fanews magazine
FAnews August 2020 Get the latest issue of FAnews

This month's headlines

Ethical behaviour - are you toeing the line?
Latest business interruption developments raise more questions than answers
Brokers remember: You are accountable...
A sustainable pension - How to manage living annuities in uncertain times
Claim stats… life can change in a heartbeat
Are South Africa’s income protection benefit providers ready for COVID-19?
Subscribe now