Lloyd's underwriters are licensed under the Short-term Insurance Act No.53 of 1998 allowing them to transact all classes of direct and reinsurance business excluding medical expenses, funeral and life business.
The South African market is the largest source of revenue for Lloyd's on the African continent with Gross Premium amounting to R2,232m (£172m £1=R13) in 2008 divided between direct insurance and reinsurance. Lloyd's business in South Africa is dominated by transportation, property and liability which combined account for 69% of the overall book of business. The remaining business is derived from the accident and health, motor, credit, bloodstock and contingency. By far the majority of business, 75%, is placed via South African intermediaries and the remainder is direct assured business. The majority of the business is commercial with a small personal lines portfolio. Transportation business has been steadily increasing over the years and is now the largest class of business underwritten by Lloyd's in South Africa.
Lloyd's South Africa (Pty) Ltd is the representative office of Lloyd's of London and is located in Sandton.
Lloyd's South Africa
7th Floor
The Forum
2 Maude Street
Sandton
2146
Tel: + 27 (11) 884 0486
Fax: + 27 (11) 884 0384
John worked for CGU Insurance Company (formerly Commercial Union Insurance Company) in Zimbabwe and later in South Africa. In 2001 he founded Sisonke Risk Solutions, an Enterprise Risk Management consultancy which he still runs. John served on the Board of the Chartered Institute of Secretaries and Administrators (FCIS) in Johannesburg for eight years from 1993 to 2001.
He is a Fellow Graduate of the FCIS, as well as The Chartered Institute of Business Administrators (FCIB) and The Insurance Institute of South Africa (FIISA).
With the assistance of Lloyd’s South Africa, John will also ensure that Lloyd’s underwriters comply with the provisions of the local South African Insurance Act, the provisions of the Lloyd’s South Africa Trust Funds, and ensure that Lloyd’s submits appropriate regulatory returns. John will be based in Johannesburg.
John will be working closely with Amit Khilosia, General Manager of Lloyd’s South Africa and will be responsible for supporting, enhancing and promoting the interests of Lloyd’s in South Africa and neighbouring territories, and working with the Government and local businesses in the region.
Amit Khilosia has worked at Lloyd's in London since 1989 and has been General Manager and Director of Lloyd's South Africa (Pty) Ltd since 1998. He has day-to-day responsibility for management of all aspects of Lloyd's operations in South Africa and is a Board member of the South African Insurance Association, Fire Protection Association and the Intermediaries Guarantee Facility.
Amit successfully negotiated and implemented the current trading arrangements in South Africa and to-date has been involved in the maintenance of Lloyd's licences and relationships with regulators and Lloyd's correspondents in Namibia and Zimbabwe.
Contact details:
Email: amit.khilosia@lloyds.com
