Old Mutual Insure and The Liability Company join forces
New partnerships, more capacity, wider distribution
Earlier today we, along with Old Mutual Insure, announced our new partnership. This is a really important move for us at The Liability Company as it puts us in a much stronger position to deliver our products and services in the specialist insurance environment.
Old Mutual Insure, is a powerful force in Africa’s insurance sector, renowned for its rich heritage spanning nearly two centuries. The Old Mutual brand and reputation is well known beyond the borders of SA and the strength of the balance sheet is unquestionable.
We believe this alliance heralds a new era of specialist insurance solutions across the spectrum of broad-form liability, professional indemnity and financial lines, marking a significant expansion in our product range and deployment of insurance capacity.
Capacity in the specialist insurance space in South Africa is often in short supply, particularly on complex risks and the new partnership means we can be impact players, supporting Old Mutual Insure’s strategy in the large commercial and corporate environments.
This is more than a mere collaboration; it’s a symbiosis of deep insurance experience, cutting-edge innovation, and a unified move to provide enhanced protection for our clients whilst bolstering the capabilities of our brokers.
With amplified resources and a broader spectrum of expertise, we stand in a stronger position to support our brokers, comprehend client needs, and deliver solutions that not only meet but exceed expectations.
Together with Old Mutual Insure, we reaffirm our dedication to demystifying specialist insurance. Our combined efforts aim to clarify policy terms, streamline processes, and intensify our focus on client service.
This partnership embodies our commitment to growth, innovation, and the pursuit of excellence. It marks a stride toward a future in which we not only fulfil existing market needs but also proactively anticipate and prepare for emerging challenges and opportunities.
We look forward to a collaborative future, one in which we collectively illustrate that Liability Really Does Matter.
How does this partnership work?
When our business was founded in 2019, our underwriting capacity came exclusively via Mutual and Federal Risk Financing (MFRF). This relationship continues to serve us well but we realised that for us to be more impactful players in the specialist liability environment, we’d need more capacity and access to a broader distribution channel.
Fortunately our plans for the future aligned with Old Mutual Insure’s desire to grow their capabilities in the specialist insurance space and we are very pleased to have found common ground which sees us underwriting business on behalf of the Old Mutual Group – encompassing both MFRF and Old Mutual Insure together on a co-insurance basis.
This doesn’t create any extra admin for our brokers, but it does strengthen our offering significantly. The new arrangement takes effect from 1 January 2024. We’ll share more as we approach the end of 2023.