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Monday, March 1, 1999
Foreign presence

St. Paul Insurance Company South Africa opened a Cape Town office 1st February 1999 and says the new branch will offer the same insurance products and services as the Johannesburg office, working with insurance brokers in the Cape Town area.
Comments, branch manager Mike Glasby, “We will continue the company’s focus on insuring financial services, construction, medical services, automotive, marine insurance, professional liability, and Custom Markets.” Custom Markets refers to specialty insurance coverages with heavy liability components. Claims-paying ratings for the company are among the highest in the industry.
St. Paul Insurance obtained its property-liability insurance license in 1996. The St. Paul also owns Botswana Insurance Co Ltd. in Gaborone.
Mr Glasby previously worked at Mutual & Federal as assistant branch manager.
Comments MD of the St Paul Pat Cochrane, “Cape Town is an extremely important commercial market in South Africa. We believe this local office enhances St. Paul Insurance’s property-casualty insurance services to commercial insurance brokers in Southern Africa. It also gives us the market presence to achieve greater growth.”
He adds that St Paul SA will in future consider marine liabilities including charterers, wharfingers, marina operators, ship repairers and ‘bumbershoot’. Its expanded marine portfolio already includes cargo import/export, as well as small craft, and pleasure craft.
The headquarters of St. Paul Companies is in Saint Paul, Minnesota, USA. It is a group of property-casualty insurance and reinsurance corn- panics worldwide. St. Paul Fire and Marine was founded in Minnesota in 1853, and ranks as one of the top 10 largest property-casualty insurers in North America. It employs borne 14 000 staff worldwide, with 41 in South Africa. Locally, its main classes of business include property and casualty insurance, and surety bonds. Commercial products are especially targeted to construction, financial institutions, marine, medical, professional liability, automotive, and custom markets. In 1998, gross written premium was R75m.
Brokers and insureds who want more information about products and services should contact: Mike Glasby on (021) 409-2777, or Fax: (021) 409-2760.

Copyright © Insurance Times and Investments® Vol:12.2 1st March, 1999
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