GENRIC Insurance buys majority stakes in critical UMAs in drive to become substantial service provider
GENRIC Insurance has acquired majority equity in a number of underwriting management agencies (UMAs), marking the next phase of expansion for the insurance company.
The niche short-term insurer, which is backed by A-rated reinsurance companies, has bought all the shares in its following UMAs: Polygon Underwriting Agency; Sirago Underwriting Managers; Quantum Liability Underwriting Managers; and Lynx Transit Underwriting Managers. GENRIC also holds a stake in new aviation UMA, Planesure Underwriting Managers.
Midrand-Based Staff Raise Awareness For Children’s Charities
GENRIC Insurance invites other in-area businesses to bring donations.
Employees at a Midrand-based business decided to do more than just pitch for work. They have started a charity initiative that places South African children at its heart, allowing staff members to donate wish-list items to specifically earmarked children-focused foundations.
New GENRIC policy brings landlords good-value rental income peace of mind
Landlords need not panic when tenants walk out of their contracts.
GENRIC Insurance Company Limited has devised a new rental guarantee insurance policy that gives insurance cover for legal costs and lost rental income exactly when landlords need it most.
The policy, launched by GENRIC at the start of November, provides landlords of residential and commercial properties with a safety net that ensures the protection of their asset.
GENRIC Insurance launches niche aviation UMA
New underwriting management agency (UMA) Planesure Underwriting Managers brings fresh blood to South Africa’s otherwise limited aviation insurance offering, expanding options for brokers whose clients have aviation risk management needs.
The UMA, backed by short-term insurer GENRIC Insurance, is the brainchild of Jamie Illing, Managing Director (MD) of Planesure, who has more than eight years experience in the aviation insurance space.