ACE Insurance is now five years old in South Africa
They are planning to expand their business by acquiring new businesses.
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ACE Insurance is celebrating five years of presence in the South African
market, and says that it is now ready to embark on organic growth.
The company said that its focus on niche opportunities in the South African
market means that it has grown into a successful entity and is now ready to
acquire new businesses.
"We've grown the local business to some R320 million per annum in premium
revenues on the back of targeted solutions for very specific sectors of the
market," said the Chief Executive Officer of ACE South Africa, Mike Durek.
"Central to this growth has been our focus on employing the best staff,
looking after customers and brokers and a policy of no nonsense payment of
claims," he said.
Speaking of building the business from practically scratch, Durek said that
the toughest stage was now comfortably behind it. "Building a brand in a crowded
marketplace is not easy," he said. "However, ACE has reached critical mass and
the reputation of the company continues to grow."
ACE South Africa deals mainly with property, casualty, accident and health.
Targeted Acquisitions
Now that the tough first five years are over, Durek said the
company is looking to accelerate growth.
"For the first time, we will also be looking to accelerate
growth in this market through targeted acquisitions in addition to the organic
growth which has propelled the company to its present position," he said.
"This market remains highly competitive, but with a solid value
proposition and careful positioning of insurance solutions relevant to our
clients, there remains much potential for ACE to steepen its growth trajectory
in the years ahead."
ACE South Africa enjoys an excellent industry reputation.
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