What we do: Transit Underwriting Managers (Pty) Ltd is a specialized underwriter focused exclusively on insurance of goods in transit. The company’s territorial limits are South Africa and Southern Africa. Transit underwrites on behalf of Compass Insurance Company Limited. Compass Insurance is a leader in specialist insurance in South Africa supported by a corporate parent based in Germany.
Ownership & Management: Envirosure shareholders bought into Transit Underwriting Managers in May 2016 and thereafter, Sjanine Tanner took over as managing director in January 2017. The company underwrites on behalf of Compass Insurance. Compass Insurance is wholly owned by Hannover Reinsurance Africa Limited, a subsidiary of Hannover Reinsurance in Germany, one of the largest reinsurers in the world. Compass Insurance Company Limited is a registered financial services provider, FSP Number 12148. Lireas Holdings is also a strategic shareholder of Transit Underwriting Managers since 2005.
Key financial indicators: Transit underwrites on behalf of Compass Insurance with credit rating by GCR of AA-(za) in respect of claims paying ability. Transit provides a number of services which comprise of cover for goods in transit, contingency cover, excess buy backs, deterioration of stock, contamination of stock, reefers (shipping containers), driver solutions and on-road solutions. The company also has strong support from its strategic partnerships with large insurance groups.
Track record: Transit’s strategic partners are Compass Insurance and Lireas Holdings which are subsidiaries of Hannover Reinsurance in Germany.
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