Guardrisk and Absa form cell captive partnership

Peter Todd, Managing Director of Absa Insurance and Financial Advisers; Herman Schoeman, Managing Director of Guardrisk; Willie Lategan, Chief Executive: Absa Financial Services; Lourens Botha, Financial Director of Guardrisk; and Edwyn O?Neill, Managing Executive: Absa Insurance Company

Absa Insurance Company (AIC) and Absa Insurance and Financial Advisers (AIFA), wholly–owned subsidiaries of Absa Financial Services have each signed an agreement with Guardrisk to provide alternative risk transfer solutions to Absa clients.

“Absa has been providing alternative risk transfer solutions for over 3 years now, however, after reviewing the opportunities for growth within the self-insurance market and the current returns we were achieving for this business, we decided to partner with Guardrisk to provide alternative risk transfer solutions for both existing customers as well as the broader Absa customer base. This partnership will leverage the expertise of Guardrisk’s cell-captive capabilities for Absa customers”, says Edwyn O’Neill, Managing Executive: Absa Insurance Company.

“Together, Absa and Guardrisk can add considerable value to our clients by providing world-class cell captive facilities,” says Willie Lategan, Chief Executive: Absa Financial Services.

Guardrisk MD, Herman Schoeman concurs that the partnership between these two market leaders in their fields, augurs well for both companies.

Speaking at the signing ceremony in Johannesburg on 30 July 2010, Schoeman said: “There is no doubt that the strength of the Absa brand, combined with Guardrisk’s expertise in the cell captive arena, makes for an exciting offering for clients.”