GENRIC launches Marine UMA

05 August 2015 Margaret Handy, GENRIC
Margaret Handy, Chief Executive Officer, GENRIC Marine Underwriting Managers.

Margaret Handy, Chief Executive Officer, GENRIC Marine Underwriting Managers.

GENRIC Insurance Company is launching GENRIC Marine Underwriting Managers to offer brokers and their clients solid insurance solutions in this specialised risk area.

GENRIC Marine is led by Margaret Handy, who is very well known and respected in the Marine industry. She has an impressive background and industry knowledge of 18 years.

Handy has worked for leading Marine underwriting companies as well as a Lloyds Syndicate trading in South Africa , managing books in excess of R100 million.

“We knew from the start that Margaret is the person we want when we enter Marine insurance,” says Cornel Schoeman, Chief Commercial Officer at GENRIC Insurance. “All our business is customer centric and backed by the best skills in the industry. Margaret is undisputedly a leader in her market.”

GENRIC enters the big league

GENRIC Insurance recently received an A- rating from Global Credit Rating, testifying to the company’s ability to enter heavy-weight risk areas such as Marine insurance.

“The A- rating and establishing a Marine insurance presence is an important strategic step for GENRIC and our clients, propelling us into the big league,” Schoeman says, adding that the company has been consciously working towards this goal.

Handy is equally excited to launch this direction-changing UMA, for her personally and for GENRIC.

“Marine insurance is a great passion of mine,” she confesses. “When I pass a big truck on the road, I always get very excited, trying to guess where it’s going, what it is carrying, and whether it’s one of mine that I insure. It is such big business and an important life vein of any economic activity. There is literally not a soul out there that is not touched by this business, either directly or indirectly.”

Designer Marine policies

GENRIC Marine will offer all the conventional Marine insurance products, but designing the policies and service offering around each client’s specific needs, giving that personalised service and experience that is the trademark of the GENRIC family.

Among the products, GENRIC Marine offers Marine cargo insurance, import and export policies, transit, stock throughput policies, liabilities insurance, and much more.

GENRIC Insurance has also acquired a 76% strategic stake in GENRIC Marine, solidifying the short-term insurer’s earnestness about providing Marine insurance to its clients.


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