Qdos and competitor Tax Radar have made an in-principle decision to merge
A personal note from Willem Lombaard | Director Qdos Underwriting Managers (Pty) Ltd.
This merger brings together the combined strengths and intellectual capacities of both organisations to benefit our policyholders and business partners. In addition, bringing the two businesses together will give the market more product and service options to choose from, rather than having to decide between two competing offerings. The merger will signal the start of the formalisation of tax insurance as a product category of its own, which will take its place alongside product categories such as Directors and Officers Liability, Professional Indemnity and Fidelity Guarantee cover as the gold standard in the protection of commerce.
This really is quite exciting news as I believe that in this case we will be able to serve the market better and provide an even better service. Along with the support of our partners, we will continue to seek and find ways of marketing our products in the market place.
As with any merger, there are still many loose ends which need to be tied up before we can launch the new merged business to the market. There are, however, a few important certainties:
·Hollard will continue to underwrite the Qdos products. The Tax Radar business will be moved from its current underwriter to the Hollard license.
·I will continue to fulfil the role of Managing Director of the merged business. Paul Jones, the Sales and Marketing Director for Tax Radar will also continue to fulfil this role after the merger.
·Policyholders will continue to enjoy uninterrupted insurance cover and world class service.
Until such time as the merger is complete, it will be business as usual for Qdos and Tax Radar, save for the fact that Tax Radar will now be underwritten by Hollard. More news will follow as we get closer to the finalisation of the merger.
Again, thank you for your support and I hope that going forward we will be able to do more business together. Please feel free to contact Paul or myself should you have any queries.
Kind Regards
Willem
