Our Purpose
We at PinnAfrica are recognized for our personal approach
and excellence in providing innovative products, services
and solutions in the consumer credit insurance and related
markets. We are a company that adds value to our people, our
partners and our business.
PinnAfrica is South Africa's only specialist
underwriter of Protected Repayment Insurance (Credit Life),
Motor Shortfall and other unique payment protector insurance
products.
Latest
News & Developments
15 July 2009
To all valued Clients and Suppliers
ANNOUNCEMENT:
SALE AND STRUCTURE OF CARDIF
PINNACLE INSURANCE HOLDINGS, PINNAFRICA LIFE LIMITED AND PINNAFRICA
INSURANCE LIMITED
As you may know, during the
past few months Cardif Pinnacle Insurance Holdings (Pty) Ltd
and its subsidiaries PinnAfrica Life Limited and PinnAfrica
Insurance Limited have been the subjects of a sale transaction
between French based bank, BNP Paribas and the local insurer,
Lombard Insurance Company Limited. I am pleased to inform
you that, effective 1 April 2009, the sale transaction has
been successfully completed and Lombard Insurance Company
Limited has now become the new shareholder of Cardif Pinnacle
Insurance Holdings (Pty) Ltd and its subsidiaries PinnAfrica
Life Limited and PinnAfrica Insurance Limited.
Following the conclusion of the sale process,
the Board of Directors and Management have approved some structural
changes to ensure efficient utilisation of capital and resources,
whilst ensuring that PinnAfrica’s market position is strengthened.
It is therefore now my duty and pleasure to inform you of
the following:
The National Credit Regulatory recently published
a paper to the Portfolio Committee on Trade & Industry on the
impact of the financial crisis on the consumer credit market in
South Africa.
Willem Lombaard, Cardif Pinnacle's Managing
Director answers questions surrounding Cardif Pinnacles new Innovative
Products taking the market by storm and the effects of the current
credit market.
This is exactly what the Cardif Pinnacle range of “Distinct” broker
product offers Independent Brokers, who since the advent of the
NCA in June 2008 has been increasingly inundated with the demand
for Credit Life or a Credit Protection Product.