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Sunday, February 1, 2004

According to a survey carried out by Monkton Insurance Services Ltd and Quest Management Services Ltd, South Africa’s Guardrisk has now been named the world’s second largest specialist captive insurer (in US dollar terms). This ranking – up from third spot last year – is based on 2002 gross premiums written. The company’s premium for the year ended 31st March 2003 was R2,1 billion. Interestingly, it is the only insurer in the survey’s top 10 that is domiciled outside of Bermuda.

“The growth of the specialist captive market worldwide indicates the willingness of an ever increasing number of risk managers to explore insurance solutions outside of the traditional market,” comments Herman Schoeman, MD of Guardrisk.

Copyright © Insurance Times and Investments® Vol:17.1 1st February, 2004
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