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Lion of Africa Insurance Company Limited was licensed as a non-life insurance company by the Financial Services Board in terms of the Short Term Insurance Act No. 53 of 1998 on 23 August 1999. The Company is a wholly owned subsidiary of The Lion of Africa Holdings Company (Proprietary) Limited, a company owned by Brimstone Investment Corporation Limited, a broad based listed black investment group, Commlife Holdings (Pty) Limited, a privately owned black investment company and Santam Limited, a listed short-term insurance group. The company trades primarily in the commercial property and casualty markets. It also operates in the personal lines, marine and engineering segments.
The Lion of Africa Insurance Company Limited is a wholly owned subsidiary of Lion of Africa Holdings (Pty) Limited, which in turn is owned by Brimstone Investments Limited (39%), Santam Limited (35%) and Commlife Holdings (Pty) Limited (26%).
The Lion of Africa Insurance Company Limited strives to portray a competitive professional image to the market place and develop The Lion of Africa as a stand-alone brand. As such, the multi-line insurer classifies its main competitors as Santam, Mutual & Federal and Zurich, although it remains significantly smaller than these players.
Lion of Africa Insurance Company Limited received an “A” rating for its claims paying ability by ratings agency Global Credit Rating Co. (GCR). The GCR rating report took cognisance of the fact that letters of comfort were provided to GCR by all three shareholders stating that they remain committed to providing financial and other support to Lion as and when required.
Lion of Africa Insurance Company Limited
Registration Number: 1999/012406/06
VAT Number: 4170182705
FSP Number: 17511
(All claims invoices/fee notes to use the Lion’s details)
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