Guardrisk acquires C&G
Guardrisk, a subsidiary of the JSE-listed, MMI Holdings Limited, has acquired the C&G Guarantees and C&G Engineering Risk Underwriters operations from Natsure and C&G Underwriting Managers. C&G Renewable Risk is excluded from this transaction.
“C&G is an innovative and skilled underwriter in the construction, engineering and guarantees sector and will strengthen Guardrisk’s client offering, which serves both commercial and corporate markets,” says Guardrisk Insurance MD, Richard Eales.
“The C&G business is a good fit with our client-centric business model and the acquisition supports Guardrisk’s strategy to strengthen its underwriting capability in the corporate and commercial insurance market across selected lines of business.”
“This acquisition also positions Guardrisk to extend its African footprint. The local guarantees and construction insurance market is significantly larger than that of the rest of Africa and building sufficient underwriting capabilities in SA will provide expansion opportunities throughout Africa,” says Eales.
The C&G management team, under the stewardship of Timothy Paramasivan (C&G Guarantees) and Keith Barlow-Jones (C&G Engineering Risk Underwriters), will continue to lead the two businesses.
