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Saturday, April 1, 1989
Local market needs

Capsco SA (Pty) Ltd was formally launched at a reception held at Swiss Re’s offices in Johannesburg on March 6 1989. Ron Ronchetti, Capsco’s MD explained that the new South African company was the latest addition to the Capsco group.
“This latest step means that Capsco is now represented on five continents with operations covering North America, United Kingdom and Europe, Australia, the Far East and now Southern Africa.”
Mr Ronchetti thanked Swiss-SA Re for the support the new company had received during its formative period. The Capsco Group became a wholly- owned subsidiary of Swiss Re, Zurich in October 1987. This was a significant event in Swiss Re’s strategy towards the creation of a global network of software and services companies to serve the worldwide insurance industry.
Chris Bond, MD of Capsco Software Europe, the new Company’s parent organisation, noted that the guest list included representatives of no less than eight nationalities. “This truly reflects the global nature of the financial services industry. The launch of Capsco SA is part of our plan to provide local support to the local industry as well as worldwide support to the multi-national insurance companies,” he added.
The launch ceremony also marked the availability of the South African version of CAPSIL - the company’s flagship life and pension administration system.
This version has been developed to meet local market and regulatory requirements. CAPSIL is already installed at three life assurance companies in South Africa - Crusader Life, Protea and Saambou Life.

Copyright © Insurance Times and Investments® Vol:2.4 1st April, 1989
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