Glacier by Sanlam acquires a majority share of AIB

Glacier has acquired a majority share of Associated Insurance Brokers (Cape) 2006 (Pty) Ltd (“AIB”), one of the largest independent brokerages in the Western Cape, established in 1983. Glacier Asset Protection will be launched to financial intermediaries in the Western Cape in June and will be rolled out to the rest of the country later this year. The move enhances Glacier’s offering to its intermediaries, thereby increasing their value proposition to their affluent client base.

Anton Raath, chief executive of Glacier, said that the partnership will assist Glacier, a diversified financial services company, to further expand its solution set in line with the needs and expectations of its client base. “Partnering with AIB will enable us to offer our clients access to a range of blue-chip short-term insurers, thereby enabling them to compare different offerings and personalise their cover according to their specific needs.”

Jean Gloyne, a director of AIB, is equally excited about the venture. “The two companies share a similar culture and dedication to service excellence. Personalised service is the cornerstone of our business and it was important for us to partner with people who share our vision.” According to Gloyne, existing clients will not experience any change to their current business with the company.