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Saturday, September 1, 2007
Backing SA

The ACE Group of Companies has provided a R20 million capital injection into the ACE Insurance Limited South African operation to ensure that its balance sheet strength keeps pace with the organisations’ business growth. The announcement was made on July 4th at an event to mark ACE South Africa’s first anniversary.

And why would ACE want to commence operations in the current competitive market environment in terms of pricing? For Scott Pickering, Chief Executive Officer ACE Insurance Ltd, South Africa the answer is quite simple, “We have taken a long term approach to South Africa just as we do in the other fifty plus countries we physically have presence in around the world.”
According to Mr Pickering, striving to introduce differentiators such as bench-marking, risk management capabilities or accessing their global network to bring new products or best practices to the market also gives ACE a competitive edge. This is also backed up by the A+ rating awarded to ACE South Africa by Global Credit Rating Co.
ACE also continues to be bullish about the long term prospects of the South African economy as it expands its business domestically whilst continuing to keep an eye on opportunities on the rest of the African continent.
 

Copyright © Insurance Times and Investments® Vol:20.8 1st September, 2007
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