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2018 Lion of Africa day

21 May 2018 Mr Anees Vazeer, Lion of Africa
Mr Anees Vazeer, Acting CEO of Lion of Africa.

Mr Anees Vazeer, Acting CEO of Lion of Africa.

Lion of Africa Insurance (Lion) recently held its inaugural annual Lion of Africa Day at the Johannesburg Stock Exchange on the 19th April 2018. The theme of the event was “Lion Roars. Setting Greater heights, and celebrated the Lion’s 19 years of existence and showcased its extensive product offering.

Strategic partners of the Lion, which include Risk Guard Alliance (RGA), Credit Protection Services (CPA), Performance and Custom Bonds Services (PCBS), Neptune Marine Underwriting Managers and Infrastructure Risk Underwriting Managers, and T&T Underwriting Managers also attended the event and showcased their various product offerings which are underwritten by the Lion.

Mr. Anees Vazeer, the Lion’s Acting CEO, shared the remarkable journey of the Lion since its establishment, its proud history as the first level one B-BBEE short term insurer, historic trends in gross written premiums and loss ratios, and he also provided an update on the turnaround strategy of the Lion which started at the end of 2015.

Anees further outlined the 2018 strategy which included consolidation of the public sector book, growth of commercial business lines, introduction of personal lines business and the fact that corporate action was underway and that the Lion shareholder, Brimstone Investment Corporation was considering looking at alternative partnerships that may be present in the market.

Mr Neil Pather, the Acting Sales Executive for the Niche and Commercial business divisions, and Ms Sharon Mackay Sikhosana, Executive Public Sector also highlighted the plans for these divisions for 2018.

Quick Polls

QUESTION

Financial behaviour experts suggest that today’s risk modelling methodologies ignore your client’s emotional ability / behavioural capacity. What are your thoughts on spicing up risk profiling tools to make allowance for your client’s financial behaviours

ANSWER

[a] Bring it on; my client’s make too many irrational financial decisions
[b] Existing risk profiling tools are adequate
[c] Risk profiling tools should be based on the model / rational client
[d] The perfect risk profiling tool is science fiction
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