Mirabilis digital 6pg brochure

THE LEADING ENGINEERING UNDERWRITER

OPERATING IN CONTINENTAL AFRICA, THE INDIAN & ATLANTIC OCEAN ISLANDS, THE MIDDLE EAST, INDIA AND THE SUB-CONTINENT, CENTRAL AND SOUTH EAST ASIA

Mirabilis Overview Mirabilis Engineering Underwriting Managers was founded in 2006. The Company is based in Johannesburg, South Africa, with branches in Bangkok, Cape Town and Durban.

Mirabilis provides a range of engineering solutions in continental Africa, the Indian and Atlantic Ocean Islands, the Middle East, India and the sub-continent, Central and South-East Asia.

Our mission is to be the preferred and trusted provider of specialist engineering insurance in Africa and selected international markets.

History

6

0 20

Mirabilis founded

1

1 20

Mirabilis acquires Construction Engineering Underwriting (CEU) division from Santam

1

1 20

Mirabilis commences underwriting for Santam Limited

1

1 20

Santam acquires a shareholding in Mirabilis

4

1 20

Mirabilis expands its scope outside Africa to international territories in the Middle East, India and South East Asia

7

1 20

S&P A rated security via agreement with Munich Re of Africa

Engineering Solutions The Mirabilis team of experienced engineering insurance specialists includes qualified engineers with practical experience, in-depth expertise, understanding of engineering risks and reinsurance requirements. Accompanied by our international panel of Reinsurers, Mirabilis offers solid security for engineering risks and substantial capacity in our acceptances.

Mirabilis offers flexible, structured and packaged products at competitive rates. Our services include risk management surveys and accredited specialist product training.

In the South African market we operate as a direct underwriter servicing over 1 600 brokers. We accept facultative reinsurance placements from outside of South Africa in accordance with local market legislation and regulation. We also accommodate various risk transfer mechanisms, reinsurance proceeds arrangements, loss payee facilities and LEG Lenders Clauses.

Value Added Services: • • • • •

Reinsurance options knowledge and support Technical assistance to brokers and their clients Structured alternatives providing competitive pricing Practical risk management proposals to reduce risk and insurance cost Seamless Project Insurance

Social Responsibility Mirabilis actively contributes to global development of quality insurance and risk management practice through memberships via Santam on Principles for Sustainable Insurance (www.unepfi.org/psi/), ClimateWise (www.cisl.cam.ac.uk/businessaction/sustainable-finance/climatewise) and SuRe – The Standard for Sustainable and Resilient Infrastructure (www.gib-foundation.org/sure-standard).

International Territorial Scope Risks situated in the Middle East, India and the sub-continent, Central and South-East Asia.

Risk capacity of US$20 million on a Probable Maximum Loss (PML) basis.

Country

Region

Country

Region

Afghanistan

Central Asia

Bhutan

Indian Sub-continent

Kazakhstan

Central Asia

India

Indian Sub-continent

Tajikistan

Central Asia

Maldives

Indian Sub-continent

Turkmenistan

Central Asia

Nepal

Indian Sub-continent

Uzbekistan

Central Asia

Pakistan

Indian Sub-continent

Baharain

Middle East

Sri Lanka

Indian Sub-continent

Iraq

Middle East

Laos

South-East Asia

Israel

Middle East

Indonesia

South-East Asia

Jordan

Middle East

Malaysia

South-East Asia

Kuwait

Middle East

Philippines

South-East Asia

Lebanon

Middle East

Brunei

South-East Asia

Oman

Middle East

Burma (Mynmar)

South-East Asia

Qatar

Middle East

Cambodia

South-East Asia South-East Asia

Turkey

Middle East

East Timor

Saudi Arabia

Middle East

Singapore

South-East Asia

Syria

Middle East

South Korea

South-East Asia

UAE

Middle East

Taiwan

South-East Asia

Yemen

Middle East

Thailand

South-East Asia

Bangladesh

Indian Sub-continent

Vietnam

South-East Asia

Insurance Solutions • Contractors’ All Risks Insurance (CAR) • Erection All Risks Insurance (EAR) • Advance Loss of Profits Insurance (ALOP)

Africa Territorial Scope Risks situated on the continent of Africa, and the Indian and Atlantic Ocean islands.

Risk capacity of US$ 114 million on a Probable Maximum Loss (PML) basis.

Insurance Solutions • Contractors’ All Risks Insurance (CAR) • Erection All Risks Insurance (EAR) • Advance Loss of Profits Insurance (ALOP) • Contractors’ Plant and Equipment Insurance (CPE) • Machinery Breakdown Insurance (MB) • Loss of Profits following Machinery Breakdown Insurance (MLOP) • Deterioration of Stock Insurance (DOS) • Electronic Equipment Insurance (EEI) • Business interruption following Electronic Equipment Insurance (EEI BI) • Civil Engineering Completed Risks (CECR) Insurance • Seamless Project Insurance

Group Structure & Shareholding Sanlam Limited Sanlam was established in 1918 and is one of the largest financial services groups in South Africa. Santam and Sanlam Emerging Markets are two companies within the Sanlam Group.

Santam Limited Santam is listed on the Johannesburg Stock Exchange (JSE) and is the leading general insurer in South Africa. Santam serves 1 million policy holders who range from individuals, commercial, specialist business owners and institutions. Santam specialises in short-term insurance products for a diversified market in South Africa an in collaboration with Santam Emerging Markets elsewhere in Africa, Malaysia and India.

Sanlam Emerging Markets Sanlam Emerging Markets is a subsidiary of Sanlam and is responsible for Sanlam’s financial business services (life insurance, general insurance, banking, retail credit, health, bancassurance and asset management) in emerging markets outside of South Africa.

Santam Re Santam Re was formed in 2010 as a division of Santam Limited and is an established reinsurer building on long-term partnerships across Africa, the Indian sub-continent, the Middle East including Israel and Turkey, South-East Asia and China.

Mirabilis Engineering Underwriting Managers Mirabilis is a subsidiary of Santam.

Sanlam Emerging Markets (SEM)

Specialist Business

re

Group Structure and Shareholding

Credit Rating Santam has entered into an agreement with leading reinsurer Munich Reinsurance Company of Africa Limited (MRoA) in terms of which selected Santam business units will be able to use the MRoA’s Standard & Poor (“S&P”) AA- credit rating to write inwards international reinsurance business. The transaction supports Santam’s strategy to profitably grow its insurance and reinsurance business flows from outside South Africa, with a particular focus on business from the rest of Africa, India and Asia.

Munich Re of Africa has an international AA- S&P rating as it benefits from a parental guarantee issued by its parent company, Münchener Rückversicherungs-Gesellschaft based in Munich. Santam’s international counterparty credit and insurer financial strength rating was adjusted from A- to BBB+ by S&P in 2014, as a result of the rating agency’s sovereign downgrade of South Africa. The revised rating was a reflection of S&P’s view on the country and was not driven by any change in the financial performance of Santam. S&P views Santam's risk culture as positive, as it has been fully embedded across the business and is supported by an extensive risk appetite framework and effective risk governance.

SANTAM LIMITED Santam is the leading general insurer in South Africa with a market share of more than 22%. We provide a diverse range of general insurance products and services in southern Africa and internationally through a network of 2 700 intermediaries and direct channels.

Santam has grown its international footprint to include Botswana, Malawi, Namibia, Zambia, Zimbabwe, Kenya, Tanzania, Rwanda, Uganda, Nigeria, Ghana, India and Malaysia. The recent acquisition of a 30% interest in the Saham Finances Group (Santam 25% and Sanlam Emerging Markets 75%) extends the Group’s footprint to 31 countries to include Francophone Africa, Angola, Morocco and Lebanon.

In the first half of 2017, we settled claims worth R8.8 billion overall.

Santam shareholding in Africa and Asia through Sanlam Emerging Markets (SEM) include: AFRICA: Country

Company

Botswana

Botswana Insurance Holdings Ltd

Kenya

Sanlam Kenya

Malawi

NICO Holdings

Mozambique

Sanlam Serguro de Vida

Namibia

Sanlam Namibia

Nigeria

FBN Insurance

Rwanda

Soras Insurance General

Tanzania

Sanlam General Insurance

Uganda

Sanlam General Insurance

Zambia

NICO Insurance Zambia

Zimbabwe

Zimnat General Insurance

INTERNATIONAL: Country

Company

India

Shriram General

Malaysia

Pacific & Orient

Santam Financial Review Gross results for the years ended December 2011 to December 2016: 2011 R’m

2012 R’m

2013 R’m

2014 R’m

2015 R’m

2016 R’m

Gross Written Premium

17 707

19 386

20 631

22 710

24 319

25 909

Underwriting Result

1 186

623

477

1 494

1 779

1 268

Credit Rating:

Standard & Poor’s (S&P) International Santam Stand Alone (S&P) Munich Re of Africa / Santam (S&P)

Rating

Year

BBB

2016

A-

2016

AA-

2017

Contact Us RUSSELL MYERS- Chief Executive Officer russellm@mirabilis.net CURT MEYER- Chief Operating Officer curtm@mirabilis.net SHANE GRAHAM- Executive Director shaneg@mirabilis.net SAMUEL MCLENNAN- National Marketing Manager samuelm@mirabilis.net

Mirabilis is an Authorised Financial Services Provider FSP No. 28190

1st Floor, Cradock Place, 5 Cradock Avenue, Rosebank, Johannesburg, South Africa P O Box 2081, Saxonwold, Johannesburg, 2132, South Africa Branches: Bangkok I Cape Town I Durban Telephone: 0861 100 100 | +27 (11) 880 8200 Website: www.mirabilis.net Email: info@mirabilis.net

Santam is an Authorised Financial Services Provider FSP No. 3416