SATIB Insurance Brokers does not settle easily. Instead, we are continually striving to innovate, not only through our products, but also the way we do business. This innovation is important as we work towards realizing our ambition of being Africa’s leading insurance broker for specialist risk and niche areas.
Stagnation is the enemy of progress and, to move forward, we have undertaken a number of exciting ventures to improve our service offering you.
Last year we merged operations with the firstEquity Insurance Group. This will see us having a number of specialist insurance broking and underwriting management companies which include SATIB, Professional Indemnity and Directors & Officers/Cyber Liability Broker (PIFRS), and Expanded Risk, an underwriting management company acting on behalf of Lloyds.
There was also a merger with a number of PSG offices in Johannesburg, Durban and Cape Town to manage all domestic and small business risks. Part of this merger resulted in a strategic decision to create an Africa-focused division, headquartered in Mauritius.
Our Africa Division comprises African Risk Transfer (ART), which provides retail insurance broking and risk management advice, Africa Risk Consultants (ARC), which provides re-insurance broking solutions to the African market, and Tourism Risk Underwriting.
TRUM is a specialized underwriting management company on behalf of Lloyds of London syndicates, providing capacity to the insurance sector, and bespoke insurance solutions to the African tourism market.
Gavin Courtenay, former SATIB Managing Director, heads up this new African Division. Dewald Cillié now heads up SATIB.
Founded in 2006, firstEquity is a Level 2 BBEE certified practice. The company offers a credible alternative to the major internationally-owned insurance advisors in South Africa.
The alliance with firstEquity gives SATIB access to a wide range of expertise in the commercial, industrial and domestic line spaces. This partnership between SATIB and firstEquity will allow for the combination of complementary skills, access to capital for acquisitions, the sharing of resources, and an advantageous mix of youth and experience.
Olive Insurance Brokers
To further complement our offering, and, again, as part of strengthening SATIB’s tourism niche focus, SATIB has acquired a stake in Olive Insurance Brokers. This merger has two benefits: it enables us to offer additional specialist services to our current client base, and broadens our existing market base.
Dewald Cillié says this partnership also provides SATIB the base to enter the specialized guesthouse insurance market, an area we previously didn’t cater for.
SATIB and Olive continue to operate under their own separate brands, while drawing support from firstEquity.