The company we keep
Lireas Holdings (Pty) Ltd
Submitted by byrnie on Mon, 2011-04-11 23:43Department:
Lireas Holdings
Content:
Lireas is a 51% subsidiary of Hannover Re Africa. Via its shareholding in various underwriting agencies and specialist insurers, the Lireas Group provides Hannover Re Africa with access to direct business which is not usually accessible to a traditional reinsurer. In addition to profitable reinsurance, the Lireas investments provide its shareholders with good investment returns. Lireas has been investing in underwriting managers for almost 20 years and currently invests in 14 underwriting managers and 2 specialist insurers.
One of the strategic goals of the Hannover Re Group, and Lireas specifically, is to embrace the spirit of the Financial Sector Charter, viewing BEE as a financial imperative. As a foreign owned reinsurer, Hannover Re was exempt from the ownership component of the Financial Sector Charter. However, its investment in Lireas was viewed by Hannover as an opportunity for Hannover Re to contribute in a meaningful way to BEE, and thereby providing the underlying Lireas investments with empowerment status. With full support of its German parent, Hannover Re Africa sold 49% of Lireas at fair value to Mahogany Capital. The added benefit of this empowerment shareholding will allow the Lireas investments to strengthen their position in the South African Insurance Market.
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- 419 reads
Mahogony Private Equity
Submitted by byrnie on Mon, 2011-04-11 23:41Department:
Mahogany Private Equity
Short description:
Mahogany was established by a team of investment professionals, with a clear purpose in mind: To work in partnership with company management and other shareholders to grow and add value to the companies they are invested in.
Content:
Mahogany was established by a team of investment professionals, with a clear purpose in mind: To work in partnership with company management and other shareholders to grow and add value to the companies they are invested in.
Mahogany Private Equity’s vision is to acquire significant equity stakes in companies, with long-term shareholding aspirations. Mahogany participates in both leveraged and management buyouts as well as provision of expansion capital. Mahogany is an ideal partner for companies seeking black economic empowerment shareholding as a defensive or expansionary strategy as Mahogany operates as a majority black female owned and controlled company.
Mahogany Private Equity believes in paying fair value for its investments and is driven by the ethos of partnering for success.
Mahogany is invested in the following companies: Lireas Holdings, Avlock International, DHL Global Forwarding, Fabricated Steel Manufacturing Company (FSM), Powertech Calidus, Vanderlande Industries and Clear Edge Filtration.
With access to funding through a strategic alliance with Nedbank, Mahogany Private Equity is able to successfully secure transactions from beginning to end.
Mahogany Private Equity is invested. Building the potential of companies and people alike.
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- 593 reads
Hannover Re
Submitted by byrnie on Mon, 2011-04-11 23:40Department:
Hannover Re
Content:
Hannover Reinsurance Group Africa (Pty) Limited was founded some 50 years ago. It is a 100% subsidiary of Hannover Ruckversicherung AG, one of the five largest reinsurance groups in the world, with a strong rating from both AM Best and Standard and Poors.
Hannover Re Group Africa aims to be the most diversified and profitable reinsurance group in Africa, operating with the highest degree of authority and capacity. The Group operates in four business segments: Life and Health, Property and Casualty, Strategic Investments and Specialty Insurance.
A characteristic of Hannover Re Group Africa which makes it the ‘Somewhat different reinsurer’ in the South African market is its strategy to obtain above average profitable reinsurance premium from specialist underwriters like MUA Insurance.
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- 445 reads
Compass
Submitted by byrnie on Mon, 2011-04-11 23:37Department:
Compass
Short description:
Compass Insurance Company Limited is a South African, short term insurer. Compass is wholly owned by Hannover Re Africa, a subsidiary of Hannover Re Germany, one of the largest reinsurers in the world.
Content:
Compass Insurance Company Limited is a South African, short term insurer. Compass is wholly owned by Hannover Re Africa, a subsidiary of Hannover Re Germany, one of the largest reinsurers in the world.
Compass employs a unique model, working strictly through underwriting agencies utilising brokers as the only distribution channel. The Compass approach is to focus on insurance needs where specialist expertise can be offered by underwriting agencies who deliver real security to clients.
Compass has established a strong track record through the ability to pay and settle claims, with an A+ Global Credit rating. Compass has a strong focus on risk management which is achieved through long-term partnerships with highly rated reinsurance companies.
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- 653 reads
The Company We Keep
Submitted by Guest on Tue, 2011-03-01 22:40Department:
The company we keep
Short description:
We are part of a unique model that elevates insurance in South Africa
Content:
Our offering is given impetus by the company we keep. We are proud of our associations with Compass Insurance, Hannover Re, Lireas Holdings and Mahogany Private Equity.
Brokers benefit from the strong financial relationship that exists between MUA and Compass, knowing that their clients are assured of the best of both worlds. This is achieved through a business model that enable each of us to contribute our unique offering in our specialist knowledge and expertise of our focus – a service that cannot be matched elsewhere in the market.
MUA and Compass benefit further from our association with our international shareholder, Hannover Re. On our own, we will each only be seen as specialists in a few areas.
As a united offering, we represent a unique blend of skills and expertise that equip us sufficiently and enable us to compete against traditional players in the market.
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- 1683 reads
