Guardrisk/About Us

Guardrisk offers its clients custom designed cover and is registered in South Africa as an insurer for all statutory classes of
non-life and life insurance business.

Guardrisk / About

Our Values

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  • We are obsessed with our clients and seek to meet and exceed their expectations.
  • We care for our staff and grow them.
  • We treat everyone with respect and dignity by embracing our diversity.
  • We acknowledge the demands and rewards of teamwork by celebrating each other’s strengths.
  • We value integrity, and practise good faith, fairness and honesty.
  • We value our position as leading market innovators by constantly challenging ourselves and the industry.
  • We hold ourselves accountable and take ownership of our actions and responsibilities.
  • We are committed to being socially responsible and creating better communities around us.

Our Mission

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  • To provide innovative, integrated and cost-effective insurance and alternative risk transfer solutions.
  • To employ industry experts with a passionate commitment to service excellence.
  • To network locally and internationally and establish world-class partnerships.
  • To be an enabler for sustainable economic transformation in SA.

Our Vision

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  • To be clients’ partner of choice for unconventional risk solutions and affinity structures.

Our Purpose

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  • To be the trusted insurance partner to our clients for growth and financial stability.
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Title, Name & Surname Executive / Non-Executive Guardrisk Group (PTY) LTD Guardrisk Insurance LTD Guardrisk Life LTD Guardrisk Allied Products and Services (PTY) LTD Guardrisk Premium Finance (PTY) LTD
Mr. Nicolaas Kruger Non-executive Director Chairman Chairman Chairman Chairman -
Mr. Herman Schoeman Executive Director Chief Executive Officer Chief Executive Officer Chief Executive Officer Executive -
Dr. Len Konar Non-executive Director - Lead Independent Lead Independent - -
Mr. Lourens Botha Executive Director Financial Director Financial Director Financial Director Financial Director Financial Director
Mr. Malungelo Zilimbola Non-executive Director - Independent Independent - -
Mr. Maxwell Sibanda Executive Director Chief Risk Officer Chief Risk Officer Chief Risk Officer Chief Risk Officer -
Mr. Richard Eales Executive Director - Managing Executive (Non-life) - - -
Mr. Francois Schaap Executive Director - - Managing Executive (Life) - -
Mr. Kevin Eales Executive Director - - - Managing Director Managing Director
Mr. Risto Ketola Non-executive Director - Non-Executive Non-Executive - -
Prof. Stephen Jurisich Non-executive Director - Independent Independent - -

Title, Name & Surname

Executive/ Non-executive

Designation

Guardrisk Group(Proprietary) Limited

  
Mr. Nicolaas Kruger Non-executive Director Chairman
Mr. Herman Schoeman Executive Director Chief Executive Officer
Mr. Lourens Botha Executive Director Financial Director
Mr. Maxwell Sibanda Executive Director Chief Risk Officer

Guardrisk Insurance Company Limited

  
Mr. Nicolaas Kruger Non-executive Director Chairman
Mr. Herman Schoeman Executive Director Chief Executive Officer
Dr. Len Konar Non-executive Director Lead Independent
Mr. Lourens Botha Executive Director Financial Director
Mr. Malungelo Zilimbola Non-executive Director Independent
Mr. Maxwell Sibanda Executive Director Chief Risk Officer
Mr. Richard Eales Executive Director Managing Executive (Non-life)
Mr. Risto Ketola Non-Executive Director Non-Executive
Prof. Stephen Jurisich Non-Executive Director Independent

Gaurdrisk Life Limited

  
Mr. Nicolaas Kruger Non-Executive Director Chairman
Mr. Herman Schoeman Executive Director Chief Executive Officer
Dr. Len Konar Non-Executive Director Lead Independent
Mr. Lourens Botha Executive Director Financial Director
Mr. Malungelo Zilimbola Non-Executive Director Independent
Mr. Maxwell Sibanda Executive Director Chief Risk Officer
Mr. Francois Schaap Executive Director Managing Executive (Non-life)
Mr. Risto Ketola Non-Executive Director Non-Executive
Prof. Stephen Jurisich Non-Executive Director Independent

Guardrisk Allied Products and Services (Pty) Ltd

  
Mr. Nicolaas Kruger Non-Executive Director Chairman
Mr. Herman Schoeman Executive Director Executive
Mr. Kevin Eales Executive Director Managing Director
Mr. Lourens Botha Executive Director Financial Director
Mr. Maxwell Sibanda Executive Director Chief Risk Officer

Guardrisk Premium Finance (Pty) Ltd

  
Mr. Kevin Eales Executive Director Managing Director
Mr. Lourens Botha Executive Director Financial Director

MMI Holdings Limited is a South African financial services group that is listed on the JSE, with market capitalisation of R28 billion and an embedded value of R39.6 billion as at 30 June 2018.

MMI uses its client-facing brands, mainly Metropolitan, Momentum, Guardrisk and Multiply, as well as MMI’s financial services and other capabilities to enhance the Financial Wellness of individual clients, small and medium businesses, large companies, organisations and public enterprises in South Africa, the rest of Africa and selected international countries.

MMI has strong capabilities in:

  • Life and non-life insurance for individuals and corporates.
  • Asset management, property management, investment and savings.
  • Healthcare administration and health risk management.
  • Client engagement solutions, including Financial Wellness and rewards programmes such as Multiply.

More about MMI Holdings

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Sound ratings give our clients total peace of mind. Leading international ratings agency, Moody’s Investor Service, has rated three companies in the Guardrisk Group. Guardrisk Insurance and Guardrisk Life are both rated Baa3 on the global scale Insurance Financial Strength (IFS) and Aaa.za on the national scale IFS; and Guardrisk International is rated Baa3 on the global scale.

These ratings are based on the Group’s good market position, low underwriting risk, diverse product mix and strong profitability.

The Baa3 international scale rating follows the sovereign rating of the Government of South Africa which was placed on review for downgrade towards the end of 2017.

The national ratings have not been placed on review for downgrade. These ratings are an indication of relative measures of creditworthiness between debt issues and issuers within a country to facilitate market participants to differentiate relative risks. At the last review date, there were no indications that either Guardrisk Insurance’s or Guardrisk Life’s outlook has deteriorated.

According to Moody’s Investors Service Credit Opinion report issued in April 2018, “Guardrisk Insurance, the non-life insurer, had a market share of approximately 6.5% of the South African non-life insurance market in 2016 , making it the fourth largest insurer in the sector.

The report further states that although Guardrisk Life has a much smaller share in the South African life insurance market, “ it is a key complement to Guardrisk’s business and is licensed to write assistance, disability, fund, health, life policies and endowment policies, primarily as a cell captive insurer.”

Guardrisk offers solutions like engineering risk insurance, non-life insurance products, marine insurance solutions, mining rehabilitation guarantees, branded non-life insurance for cell owners to sell to their clients, corporate insurance for cell owners, underwriting facilities and financing of annual insurance premiums as a comprehensive banking alternative.

What sets Guardrisk apart from other cell captives is the fact that it offers underwriting, reinsurance, claims management, investment and accounting functions to cell owners. It is also committed to transformation and maintains Level 3 Contributor Status under the Amended Financial Sector Codes (FSC). Meaning that Guardrisk’s main objective is to promote financial wellness, access to financial services and improving financial literacy to the previously disadvantaged in South Africa where inequality is still a major concern.

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Guardrisk Insurance Company Limited Moody’s ratings

The Guardrisk Group is included in the rating of its parent company, MMI Holdings Limited (MMI). Guardrisk Group incorporates: Guardrisk Insurance Company Limited, Guardrisk Life Limited, Guardrisk Allied Products and Services (Pty) Ltd and Guardrisk Premium Finance (Pty) Ltd).

BEE Rating.

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Guardrisk Group (Pty) Ltd

Name Title
Nicolaas AS Kruger Chairman
Herman SH Schoeman Chief Executive Officer
Lourens J Botha Financial Director
Maxwell Z Sibanda Executive Director

Guardrisk Insurance Company Limited

  
Nicolaas AS Kruger Chairman
Herman SH Schoeman Chief Executive Officer
Len D Konar Lead Independent Director
Lourens J Botha Financial Director
Malungelo H Zilimbola Independent Director
Maxwell Z Sibanda Executive Director
Richard J Eales Executive Director
Risto Ketola Non-Executive Director
Stephen C Jurisich Independent Director

Gaurdrisk Life Limited

  
Nicolaas AS Kruger Chairman
Herman SH Schoeman Chief Executive Officer
Francois C Schaap Exexcutive Director
Len D Konar Lead Independent Director
Lourens J Botha Financial Director
Malungelo H Zilimbola Independent Director
Maxwell Z Sibanda Executive Director
Risto Ketola Non-Executive Director
Stephen C Jurisich Independent Director

Guardrisk Allied Products and Services (Pty) Ltd

  
Nicolaas AS Kruger Chairman
Kevin B Eales Managing Director
Herman SH Schoeman Executive Director
Lourens J Botha Financial Director
Maxwell Z Sibanda Executive Director

Guardrisk Premium Finance (Pty) Ltd

  
Kevin B Eales Executive Director
Lourens J Botha Financial Director

MMI Holdings Limited is a South African financial services group that is listed on the JSE, with market capitalisation of R28 billion and an embedded value of R39.6 billion as at 30 June 2018.

MMI uses its client-facing brands, mainly Metropolitan, Momentum, Guardrisk and Multiply, as well as MMI’s financial services and other capabilities to enhance the Financial Wellness of individual clients, small and medium businesses, large companies, organisations and public enterprises in South Africa, the rest of Africa and selected international countries.

MMI has strong capabilities in:

  • Life and non-life insurance for individuals and corporates.
  • Asset management, property management, investment and savings.
  • Healthcare administration and health risk management.
  • Client engagement solutions, including Financial Wellness and rewards programmes such as Multiply.

See more here.

Sound ratings give our clients total peace of mind. Leading international ratings agency, Moody’s Investor Service, has rated three companies in the Guardrisk Group. Guardrisk Insurance and Guardrisk Life are both rated Baa3 on the global scale Insurance Financial Strength (IFS) and Aaa.za on the national scale IFS; and Guardrisk International is rated Baa3 on the global scale.

These ratings are based on the Group’s good market position, low underwriting risk, diverse product mix and strong profitability.

The Baa3 international scale rating follows the sovereign rating of the Government of South Africa which was placed on review for downgrade towards the end of 2017.

The national ratings have not been placed on review for downgrade. These ratings are an indication of relative measures of creditworthiness between debt issues and issuers within a country to facilitate market participants to differentiate relative risks. At the last review date, there were no indications that either Guardrisk Insurance’s or Guardrisk Life’s outlook has deteriorated.

According to Moody’s Investors Service Credit Opinion report issued in April 2018, “Guardrisk Insurance, the non-life insurer, had a market share of approximately 6.5% of the South African non-life insurance market in 2016 , making it the fourth largest insurer in the sector.

The report further states that although Guardrisk Life has a much smaller share in the South African life insurance market, “ it is a key complement to Guardrisk’s business and is licensed to write assistance, disability, fund, health, life policies and endowment policies, primarily as a cell captive insurer.”

Guardrisk offers solutions like engineering risk insurance, non-life insurance products, marine insurance solutions, mining rehabilitation guarantees, branded non-life insurance for cell owners to sell to their clients, corporate insurance for cell owners, underwriting facilities and financing of annual insurance premiums as a comprehensive banking alternative.

What sets Guardrisk apart from other cell captives is the fact that it offers underwriting, reinsurance, claims management, investment and accounting functions to cell owners. It is also committed to transformation and maintains Level 3 Contributor Status under the Amended Financial Sector Codes (FSC). Meaning that Guardrisk’s main objective is to promote financial wellness, access to financial services and improving financial literacy to the previously disadvantaged in South Africa where inequality is still a major concern.

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Guardrisk Insurance Company Limited Moody’s ratings

Guardrisk’s South African business namely Guardrisk Group Proprietary Limited (which incorporates the operating entities: Guardrisk Insurance Company Limited, Guardrisk Life Limited, Guardrisk Allied Products and Services (Pty) Ltd and Guardrisk Premium Finance (Pty) Ltd) no longer has its own stand-alone rating but from 2016, its rating is included in parent company, MMI Holdings Limited (MMI).

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2018 BEE Certificate

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