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Guardrisk Group continues to create value

08 September 2011 Guardrisk Group
Guardrisk?s AGM took place at the Sandton Hilton recently. SA?s newly appointed cricket coach, Gary Kirsten was the guest speaker. 
From left: Lourens Botha, Guardrisk;
Cedric Masondo, SASRIA; Junia
Morare, Anglo American; Gary Kirsten;
Herman Schoeman, Guardrisk; Michal
Nejthardt, Reintegr8; Jacqui
Parkin,Eqstra Fleet Management and
Lerato Segwe, Ubank.

Guardrisk?s AGM took place at the Sandton Hilton recently. SA?s newly appointed cricket coach, Gary Kirsten was the guest speaker. From left: Lourens Botha, Guardrisk; Cedric Masondo, SASRIA; Junia Morare, Anglo American; Gary Kirsten; Herman Schoeman, Guardrisk; Michal Nejthardt, Reintegr8; Jacqui Parkin,Eqstra Fleet Management and Lerato Segwe, Ubank.

From left: Herman Schoeman,Maxwell
Sibanda and Lourens Botha of
Guardrisk; and Deon Viljoen of
Alexander Forbes.

From left: Herman Schoeman,Maxwell Sibanda and Lourens Botha of Guardrisk; and Deon Viljoen of Alexander Forbes.

From left: Guardrisk chairman (and
Alexander Forbes CEO), Edward
Kieswetter

From left: Guardrisk chairman (and Alexander Forbes CEO), Edward Kieswetter

The Guardrisk Group (excluding Euroguard in Gibraltar) enjoyed sound growth in 2010, once again delivering sustainable financial results. For the year ended 31 March 2011 the group’s life and short-term operations recorded gross premium income, excluding reinsurance inwards, of R5,4 billion, up 17% from R4,6 billion in 2010.

During the period under review, gross premium income written in clients’ cells increased by 14% to R3,3 billion (2010: R2,9 billion); total assets rose by 13% to R7,7 billion (2010: R6,8 billion); and cell shareholders’ funds grew 6% to R1,6 billion (2010: R1,5 billion).

Guardrisk continued to create value for its clients, with dividends amounting to R274,7 million being paid to its life and short-term ordinary shareholders during the year under review.

“Guardrisk’s revenue base continued to diversify in 2010, corporate risk solutions (1st party self insurance and risk financing) contributed 22% of revenue; the life division chipped in with a respectable 12% and Guardrisk Allied Products and Services added 11% to the coffers. Another 13% of revenue came from underwriting products; investment income added 6%; and underwriting managers and binder holders weighed in with 7%,” said MD, Herman Schoeman.

The 2011 Guardrisk Life and Guardrisk Insurance Annual General Meetings recently took place in Johannesburg and, after the formalities, South Africa’s newly appointed cricket coach, Gary Kirsten, enthralled guests with tales of the journey he shared with the Indian cricket team on their journey to the 2011 World Cup victory. Kirsten hammered home the importance of playing “for something bigger than for personal glory", a sentiment that found favour with his corporate audience.

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