SPECIALIST
INSURANCE

Lombard Insurance Company Limited provides world-class trade and commercial insurance products to support your business’ sustainable growth. We are leaders in specialist risk insurance with a focus in construction, customs and mining rehabilitation guarantees, credit insurance and we have a specialist partnerships business.

YOUR PARTNERS IN PROGRESS

PROGRESSIVE

PROGESS IS WHAT WE DO

At Lombard, progress isn’t just a goal, it’s in our DNA. We’re dedicated to supporting your business, invested in your success as if our future depends on it – and it does.

SERVICE

HANDS-ON PHILOSOPHY

Our commitment to service excellence has been time-tested since 1990, and will always be at the heart of what we do – from policy development to claims.
Our hands-on philosophy means that you get to deal directly with decision-makers.

CUSTOM SOLUTIONS

NICHE BUSINESS

Through our speciality focus, understanding of market and sector dynamics, and our partner-centric approach, we are able to develop unique solutions to meet your business specific needs.

EXPERTISE

INDUSTRY INSIGHTS

Our team of experienced Industry specialists use their knowledge, underpinned by technical underwriting abilities, to understand your business and where you want to take it.

EXCELLENCE

LEADERS IN OUR FIELD

Nurturing lasting relationships with our clients and partners is our priority. We believe it is the basis for our impressive financial credentials, and our reputation of independence and reliability in delivering fast, efficient service.

STRENGTH

SOLID FOUNDATIONS

With A-rated paper, accepted by all relevant principals, and strong reinsurance relationships, we are able to provide the appropriate capacities for the relevant risk.

A DYNAMIC FUTURE, A SOLID FOUNDATION

Lombard Insurance Company Limited, started in 1990 by the visionary George Lombard as a niche insurer operating specifically in guarantee markets, has developed into a multifaceted business that provides diversified insurance and related solutions to the business market.

 

Lombard values the entrepreneurial spirit – it’s how we started in 1990 and how we’ve grown our businesses. Finding unique offerings and solutions, reacting to situations at critical moments, changes in the market and new opportunities – even in and from the most unexpected places and businesses – is core to what makes us leaders in specialist insurance.

OUR STORY

START COMPANY
November 1990

Lombard Guarantee Insurance Company Limited registers as a specialist insurance company with Munich Re, Swiss Re and Hollard Insurance Company as our major shareholders

We change our name to Lombard Insurance Company Limited

On our 10th anniversary, we restructure into three divisions :

  • Construction bonding
  • Solvency guarantees
  • Trade credit insurance

George Lombard retires as Managing Director, and is succeeded by Johnny Symmonds

We form an equity partnership with specialist Underwriting Management Agency Consort Technical Underwriters

  • We form an equity partnership with Leppard Underwriting
  • We add Trade Finance and Mining Rehabilitation Guarantees to our product line
  • We enter into a joint venture agreement with Assetinsure, an Australian insurer, to develop a guarantee business in Australia

We sign a reinsurance agreement with Swiss Re International on the AssetInsure book of business

In 2010, Lombard formed an association with Nordic Guarantee in Sweden. They also have offices in Finland and Norway and write business in Denmark

  • We form equity partnerships with specialist Underwriting Management Agencies, Horizon Underwriting Managers and C3 Commercial Crime Concepts
  • We sign a co-operation agreement with China National Investment & Guaranty Company to provide better construction guarantee solutions to Chinese contractors working in Africa
  • We sign co-operation and reinsurance agreements with Nordic Guarantee, a Scandinavian based insurer, to expand their construction bonding business into Europe

Red Sands Insurance Company limited purchases 9.9% of Nordic Guarantee

We form an equity partnership with specialist Underwriting Management Agency, Praesidio Risk Managers

  • Lombard forms an equity partnership with specialist Underwriting Management Agency, Motor Acceptances
  • We form an equity partnership with specialist Underwriting Management Agency, Lombard Commercial
  • Johnny Symmonds retires as Managing Director, and is succeeded by James Orford

OUR REINSURANCE

Our unique risk solutions and growing capacities have evolved through the close relationships we have developed with some of the world’s largest reinsurers.

We have our own dedicated reinsurance team within Lombard, who with the assistance of Guy Carpenter – international providers of specialist reinsurance and strategic advisory services, can handle both reinsurance pricing and counter-party security.

FINANCIAL STRENGTH

With more than R2.3 billion in assets (as at October 2015) and an A+ rating from Global Credit Ratings for our claims-paying ability, Lombard Insurance Company Limited is financially solid and poised for growth.

FINANCIAL STATEMENTS

MANAGEMENT ACCOUNTS