Santam has strengthened its position in the agricultural insurance market by merging its operations with those of Agri Risk Specialists. The single unit will focus on asset and crop insurance.
“This makes Santam the undisputed leader in the agricultural insurance market, with about 30% of the asset insurance market and more than 70% of the crop insurance market,” said Edward Gibbens, Santam’s executive head of broker distribution. “We can now offer farmers and intermediaries comprehensive risk management solutions.
“Farmers’ risk management requirements are constantly evolving, which is why reviewed its strategy regarding agriculture, to align it with market trends. We believe there are good business opportunities in the agricultural market and wish to confirm and expand our involvement in this sector,” Gibbens said. – Staff reporter
