Leading UK brokerage returns to South Africa

Price Forbes & Partners Limited (Price Forbes), a leading independent London and Bermuda-based global, specialist Lloyd’s broker, announced today that the Financial Services Board (FSB) has awarded a license to its newly-established South African busine

Today Price Forbes is 100% owned by management and staff employing over 230 people trading with all the major international insurance and reinsurance markets in London, Europe, Singapore, New York and Bermuda.

Through its new South African subsidiary Price Forbes will broaden the offering available to insurance and reinsurance buyers of domestic corporate insurance, provide enhanced access to international markets and introduce specialist skills and greater competition into the South African insurance market following significant recent consolidation.

PFP Insurance Brokers is open for business and already has an experienced senior team in place headed up by Chairman, Theo Pauw, previously Managing Director of Alexander Forbes Risk and Insurance Services and Chief Executive, Warren Bolttler, previously Chief Risk Officer at Dimension Data.

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Michael Donegan, Chief Executive of the Price Forbes Group, comments, “Establishing an office in South Africa offers businesses a new alternative choice delivered by an independent group focused on offering clients a bespoke and unrivalled service. With Pauw and Bolttler we have first class management in place and look forward to exciting developments in the future.

Bolttler comments, “We believe that good medium-sized brokers have real value to offer clients. We are investing heavily in people to offer a much higher level of expertise and personalised service for our clients and we believe that is going to be our differentiator. We have the advantage of local expertise combined with and backed by the power of our access to a global network via our shareholders’ international presence.”