November 22, 2023 in Uncategorised

PRESS RELEASE: Old Mutual Insure forges strategic partnership with The Liability Company to expand liability insurance solutions

Old Mutual Insure, a leading non-life insurer in South Africa, today announced a strategic partnership with The Liability Company, a trailblazer in specialist liability insurance. This alliance is set to strengthen Old Mutual Insure’s liability insurance offerings across Africa and bring innovative, client-focused products to the forefront of the market.

This partnership represents a convergence of Old Mutual Insure’s depth of experience and corporate insurance solutions with The Liability Company’s modern, specialised approach to liability-based insurance. It aims to redefine service excellence and product accessibility for clients across the continent.

“Old Mutual Insure has gained a formidable reputation for our specialist insurance division spanning niche business units like Engineering, Corporate Property and Marine. This partnership will fill the missing piece of the puzzle and allow us to become meaningful players in the specialist liability space,” said Samantha Boyd, Chief Executive of Specialty at Old Mutual Insure.

“The Liability Company is redefining the industry with its commitment to technical know-how and broker engagement, which aligns perfectly with our customer value proposition.”

The Liability Company has made some impressive strides in the insurance market of late, under the new leadership of Simon Colman, a specialist insurance veteran with over 30 years’ experience, affirming its position as a leader in the casualty space. Combining their specialist risk services and product innovation, into Old Mutual Insure’s extensive distribution network, promises an elevated service experience for brokers, not to mention a much-needed injection of meaningful capacity into the corporate insurance market.

Furthermore, The Liability Company’s strategic expansion of its team with industry experts underscores the partnership’s potential to reshape the liability insurance landscape. “This partnership is a forward-thinking move for us,” added Colman, CEO of The Liability Company. “Old Mutual Insure’s reputation and reach, combined with our innovative edge and specialist focus, present an exciting future for our clients and the market in general.”

Garth Napier, MD of Old Mutual Insure, said that the alignment between the companies fits in with the insurer’s overall strategy to look to partnerships to unlock value for clients and brokers.

“The landscape for product innovation is increasingly becoming competitive.  Partnerships as well as mergers and acquisitions (M&A) in this environment are key levers for growth and diversification in the SA non-life insurance market. We look forward to this partnership unlocking new growth opportunities and adding to our competitive advantage, as well as offering our customers specialist products and services. It also gives us the ability to rapidly test and scale new product ideas,” concluded Napier.

About Old Mutual Insure:

Old Mutual Insure is the oldest non-life insurer in South Africa with a history that dates back more than 180 years. We partner with brokers to offer an extensive range of insurance products and solutions to fulfil personal, commercial, and corporate needs. We also provide insurance products for the agriculture, engineering, and marine sectors. As a brand, we promise to do great things as we protect what’s important to our customers and put them first in everything that we do.

About The Liability Company

The Liability Company is at the forefront of innovation in the liability insurance industry, with a fresh perspective that emphasises the importance of liability coverage for businesses and individuals. Their dynamic approach and advanced technological tools, like the Liabilibot, stand as a testament to their philosophy that ‘liability matters’.

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