CREDIT
DEVELOPMENT
Crime Concepts
ACCEPTANCES Motor Fleet
Liability Insurance
COMMERCIAL Commercial
partner
business
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, fuel guarantees, mining rehabilitation guarantees, credit insurance and we have a specialist partnerships business.
YOUR PARTNERS IN PROGRESS
PROGRESSIVE
PROGRESS 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.
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
Lombard Guarantee Insurance Company Limited registers as a specialist insurance company with Munich Re, Swiss Re and Hollard Insurance Company as our major shareholders. *None of these entities remain a shareholder of the group.
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
- Lombard Commercial become a specialist division of Lombard Insurance Company Limited with expertise in the Commercial and industrial markets
- We add Medical Gap cover to our offering by forming an equity partnership with Turnberry
- Lombard enters into a Partnership with Advantage Motor Protector (AMP), a specialist in developing, distributing and administering motor mechanical breakdown warranties.
- A controlling stake in BrightRock Holdings is sold to Sanlam Limited. LomHold retain a minority interest.
Lomhold acquires a minority stake in the Australian insurer, Assetinsure, which specialises in surety bonds and credit enhancement products.
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 internationally recognised reinsurance brokers handle both reinsurance placing and counter-party security.
FINANCIAL STRENGTH
With more than R3.7 billion in assets (as at June 2019) 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
STRATEGIC INVESTMENTS
We seek to partner with high potential businesses that offer positive externalities to our core short-term insurance operations. These include exposure to insurance markets outside of the continent, insight and input into leading edge insurance technology and diversification into life insurance opportunities.
