Lion of Africa listed as one of Top Performing Insurers in South Africa

Short-term insurer, Lion of Africa, announced today that it has made the leap into the top 300 South African companies list, as judged by SA’s Top Performing Companies 2008 publication. With a 61% black equity shareholding, Lion of Africa is South Africa’s largest black owned equity and managed short-term insurer.

The Top Performing Companies publication incorporates the top 300 South African companies, as judged by rigorous criteria, into an annual publication. This is distributed locally as well as globally to business decision makers, which means that being selected as part of this choice group of companies is a triumph for Lion of Africa.

Lion of Africa continues to contribute to growth and good governance in short-term insurance in South Africa. “Lion of Africa has been recognized as a Top Performing Company in South Africa due to its sustained excellence in corporate performance,” says Stephen Paxton of Topco Media, the publishing house of The Top Performing Companies publication.

“Becoming one of South Africa’s top 300 companies is a great achievement for an organically grown BEE company such as our own. It has taken years of hard work and dedication to reach a point in our business where can confidently count ourselves amongst the major players in the short term insurance business,” says CEO of Lion of Africa, Adam Samie (pictured).”

A number of minimum criteria need to be met in order for companies to make the Top 300 list. These include: having an annual turnover exceeding R100 million and being acknowledged as a market or market sector leader. The speed and level of growth of the company is examined, as well as its Black Empowerment status and ISO (International Organization for Standardization) ratings. A Social Economic Development spend of more than R1 million per annum, or 1% of turnover profit before tax is also required.

Another criteria is the achievement of triple bottom line performance, which requires that the company has made a commitment to corporate social responsibility, achieving economic, environmental as well as social success. In this regard, Lion of Africa provides funding and support to HIV / Aids initiatives as well as getting involved in youth welfare and development.