Sandton – The Allied Africa Broker Network (AAB) was officially launched on 22 August 2013.
This initiative by Indwe Risk Services, is an integrated network of independent, African-owned and operated brokers. The network aims to provide expertise, local understanding and personal relationships to guide risk management in Africa.
“As one of South Africa’s largest short-term insurance brokers, Indwe is the key driver responsible for establishing the AAB’s transaction platform. Indwe also co-ordinates the client base that will be serviced by this network,” says Peter Olyott, Managing Director, Indwe Risk Services.
The AAB is a strategic response to the convergence of the global interest in Africa as a frontier market. This interest has attracted investments in ancillary services such infrastructure development and services, including banking and insurance. The AAB is the realisation that a unified solution is needed for global markets conducting business in Africa. “We believe an African-based network can provide investors with the best of both worlds. Our members have local knowledge and experience in their particular territories.” Olyott explains.
The AAB works proactively to identify opportunities emerging in Africa and to present the network as a reliable alternative to global brokers. The network forms a platform for the exchange of information and knowledge and assists investors in arranging reinsurance facilities and referrals.
“The AAB provides clients with necessary information and a standardised level of service across the African continent. With a strong underpinning of knowledgeable professionals, long-term stability and personal relationships, Indwe Risk Services is proud to have guided the growth of this network.” says Olyott.
Currently the AAB has representation in over 10 countries and has over 50 offices across Africa. “We are a strong network and intend to grow even more. In the long term, we aim to create an African-based insurance and reinsurance facility for industry sectors such as energy, marine and aviation,” concludes Olyott.