Katz Breskal insurance brokers joins RBS to create one of SA's leading independent brokerages

29 November 2011 Katz Breskal Insurance Brokers (KBIB)

South African insurance brokerage, Risk Benefit Solutions (RBS), has merged with Western Cape based Katz Breskal Insurance Brokers (KBIB) to form one of the largest independent insurance brokerages in the country. The merged company - RBS Katz Breskal - will service a book of approximately 20000 clients and approximately R300 million in annual premium income.

According to Michael Petersen, CEO of RBS, this is the twelfth merger or acquisition by RBS over the past decade, while it continues along its expansion path. “As we actively seek future growth opportunities, we continue to look for companies that have deep talent pools, the right culture fit, stable loyal blue chip client bases, businesses suitable for the existing facilities that we have, sustainable loss ratios and the right location,” he says.

Petersen says as of 1 December 2012, KBIB staff will be housed at RBSs’ Cape Town head-office. He says the new partnership increases the combined buying power with insurers, centralises processes and provides the ability to create more unique products for clients. “Furthermore, we are able to combine the synergies within our Employee Benefits and Health and Wealth Businesses”.

Stan Katz will hold the position of non-Executive Chairman, with Michael Petersen (RBS) the group CEO. David Zetner (KBIB) will assume Managing Director position of the Cape Town operation while Anthony van Rensburg (RBS) remains the general manager of RBS Katz Breskal office in Johannesburg. “All the current directors of both companies will retain their positions within the new company,” explains Petersen.

Petersen believes that the significant number of acquisitions by RBS over the past ten years has provided its leadership with expertise and skills in integrating new businesses into RBS operations. “We will use this experience to ensure that our merger with KBIB will be seamless for all our clients and staff,” he says.

“We believe this new partnership will create significant value for all stakeholders and will enable us to provide clients with an even better service offering.”

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