Investec acquires stake in CIB Insurance Administrators

Douglas Donnelly, CEO of CIB

Investec Bank Limited (“Investec”) has, as a result of the conclusion of a lending transaction, acquireda 5% minority share in CIB Insurance Administrators (Pty) Ltd (“CIB”). CIB is a short-term insurance administrator providing independent and national brokers throughout South Africa with insurance solutions for their clients.

Douglas Donnelly, CEO of CIB says: “Our aim is to be one of South Africa’s leading short-term insurance providers and the preferred choice for professional brokers within the next five years. We believe the future of insurance rests in the hands of those who are able to inject a human touch into each interaction and through the use of technology as an enabler for greater efficiency.”