HIC Underwriting Managers Pty Ltd, was established in July 1998 as a niche underwriting management agency. The company was originally registered as HIU Consultants, a joint venture between Allianz Insurance Company Ltd and Lireas Holdings (Pty) Ltd, a subsidiary of Hannover Re Africa Limited. The demand for structured asset protection and risk management solutions to all the many segments comprising the hospitality industry was identified. In those infant years HIC established themselves as the leading hospitality insurer in the South African market.
In 2008 HIC acquired a book of commercial thatch business and shortly thereafter opened a commercial underwriting division, without losing focus on their specialist hospitality underwriting business. In order to encompass the new product offering, the then HIU rebranded in 2010 to become HIC Underwriting Managers – Hospitality, Industrial & Commercial Underwriting Managers. The innovative company now had six product offerings being Hospitality, Restaurant, Bed & Breakfast, Commercial, Golf & Greens and Accommod8. The Commercial product also covered fleets while the Accommod8 product focusses on sectional title risks, both residential and commercial.
HIC has strong financial backing. Our majority shareholder, Lireas Holdings, is the strategic investment company of Hannover Re Africa, a wholly owned subsidiary of Hannover Re which is the third largest reinsurer in the world. Hannover Re holds the majority stake in Lireas and has a S&P rating of AA-. Lireas’ minority shareholder, Mahogany Private Equity, provides Lireas with strategic direction, corporate finance and private equity expertise as well as BEE credentials. HIC writes for Guardrisk who have sound financial ratings.
Since 1998, HIC has grown considerably with branches in Johannesburg, KwaZulu Natal, Cape Town, Nelspruit, Free State, Gqeberha, Polokwane and Pretoria.
Managing Director, Denleigh Wilensky, insists that each member of HIC provides 6 star service across the board and thus the 6 stars in the company’s logo have a dual message. As a result of this six star service, HIC won the coveted FIA Award in 2012 for the Underwriting Manager of the Year. The company has also excelled year on year since 2014 at the annual PMR.africa Business Excellence Awards, most recently receiving the Diamond Arrow award for our Hospitality, Bed and Breakfast and School products.
HIC’s strong team of highly qualified underwriters and technical staff aim to engage fair underwriting practices, applying their extensive risk management knowledge, for an effective solution to our target market. Our claims team are renowned for efficient service and our marketing team are always on hand to ensure quotes are market related without compromising our ethics.
As the company enters its 25th year in business HIC will continue to develop and enhance our wide range of products to ensure our innovative reputation in the market remains intact. Service delivery will not be compromised and in fact will only improve. In line with legislation, HIC have developed an online learning platform to provide product specific training to our broker network. HIC will continue its innovative stance to unlock its full potential to the benefit of our brokers.
