South Africa

Mauritius licensed two new captives in December, recent updates to the domicile’s regulatory register shows, in a move that doubled its number of non-PCC captives.

There is substantial opportunity for captives to play a bigger role on the African continent according to Krishna Bheenick, managing director at Africa Specialty Risk (ASR).

Darlington Munhuwani has joined RISCS CWC as a partner to work alongside existing RISCS CWC South Africa-based partner David Rose-Innes, where he will be focused on continuing the development of the firm’s captive consulting services in Africa.

YuLife, an employee benefits and life insurance provider, will utilise Guardrisk’s cell captive to roll out its products in South Africa. Guardrisk is the leading cell company specialists in South Africa with vehicles in Mauritius, Gibraltar and South Africa itself, writing corporate P&C risk, life, affinity and tailored risk solutions.

South Africa’s Prudential Authority (PA) and Financial Sector Conduct Authority (FSCA) published a guidance note on 30 August providing further clarity on the definition of a foreign captive insurer...

Recorded from Johannesburg, Richard is joined by Matthew Bezuidenhout, captive owner Gert Cruywagen and Ernie van der Vyver.