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Corporate Guarantee Limited

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Corporate Guarantee Limited

Overview:

Corporate Guarantee Limited is an Insurance company with a unique approach to short-term insurance. We offer innovative risk management products as an alternative to conventional insurance products. Because we understand that the financial needs and risk profile of each of our clients are different, we focus on structuring unique solutions to fit the needs of each of our clients. We have philosophy of building strong and lasting relationships and that is why we view our customers and stakeholders as valuable partners in creating alternative solutions.
Regulatory Compliance:

History:

Our parent company, Nictus, was founded in 1945 and was listed on the JSE in 1969 and today has total assets under management in excess of R700million. Total equity amounts to R70million.
Joint Venture…

In 1996, Nico Tromp (MD of the Nictus Group), entered into a joint venture with the founder members of Corporate Guarantee, to float a short-term insurance company in Namibia, named Corporate Guarantee. The blossoming financial market in Namibia and the realization of the significant product benefits that Corporate Guarantee will be bringing to the market, provided the impetus needed for this business venture. The added transparency and regulatory oversight that our clients and interested parties enjoyed because of the fact that Corporate Guarantee was part of listed company and a formal management structure was very important when the company was established. Further to this Corporate Guarantee also gained from the experience, expertise and valuable inputs from the management and support of the Nictus Group.

Corporate Guarantee was formed in January 1996 and incorporated in Namibia under the name Corporate Guarantee Insurance Company of Namibia Limited. Corporate Guarantee is registered with the Registrar of Financial Institutions in Namibia to conduct short term insurance business. The company operates in a niche market in the short-term insurance industry providing unique solutions to risk management. Due to premium growth, it became necessary for Corporate Guarantee to increase its issued capital to inter alia, to meet solvency requirements under the Short-term Insurance Act.

In May 2000, the company successfully launched a private placing of 15 million ordinary shares of 50 cents each at an issue price of 100 cents per share. The issue was fully subscribed thus increasing its issued capital from N$5 million to N$20 million. The advantage that this increase in capital holds for policyholders is that all Corporate Guarantee policies are backed by share capital in excess of N$ 20 million.
Full shareholder…

In April 2001 the entire share capital of Corporate Guarantee Limited was acquired by Nictus Limited with effect from 1 April 2001. The directors of Nictus refocused the company and expanded its operations to South Africa through selected acquisitions in related areas of business activities.
South Africa…

Based on the success we had in Namibia and the appeal of our product, Corporate Guarantee South Africa Limited was founded in 2002. Initially we had offices in Randburg, but have subsequently also established an office in Bellville, Western Cape. We have grown from humble beginnings, but the annual growth in premium income has surprised one and all – we are growing our business at an annual rate of xxx%. Our client base is expanding all the time and the innovative and fresh approach of our product is seen as a welcome alternative by the market. We expect the growth trend to continue as we reaps the fruit of our marketing effort.

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