insert_link Local Trustco Group announces NAD 4.4 billion (USD 235 million) transaction with founding family. Trustco Group Holdings Limited (TTO.SJ) today announced a landmark agreement to convert NAD 4.4 billion (USD 235 million) of debt into equity, paving the way for a planned USD 100 million capital raise in the US markets. The agreement is expected to increase Trustco's net asset value by approximately NAD 1.5 billion (USD 79 million). "This recapitalization is a crucial step towards achieving our growth ambitions […] todayJune 12, 2024 7
insert_link Business / Economics Safeguarding your world with personal All-Risk cover By Johannes Hesekiel, General Manager for Personal Lines, Old Mutual Short-Term Insurance, Old Mutual Namibia In today's fast-paced world, we carry our lives with us wherever we go. From the latest gadgets to cherished heirlooms, our personal belongings are more than just objects—they're a reflection of who we are. Yet, in the midst of our busy lives, we often overlook a crucial aspect of safeguarding these valuables: […] todayJune 5, 2024 20
insert_link Local TRUSTCO shares surge 49% following positive trading update Trustco continues to demonstrate its ability to generate above-average investment returns. During the interim review period, Trustco's Net Asset Value (NAV) increased by 9.5% from NAD 1.15 billion (USD 62 million) to NAD 1.26 billion (USD 68 million) during the last six months. The NAV per share similarly grew to 128.2 cents, from 117.1 cents. The Group's profit for the 6 months ended 29 February 2024 […] todayMay 31, 2024 7
insert_link Africa Can insurtech fix Africa’s low insurance penetration? By Conrad Onyango, via bird story agency Until recently, Africa’s legacy insurance market has been relying on an old agent-driven sales model, where agents physically scouts for clients in offices, malls and other business centers to market, sell and deliver insurance products. Under this model these agents have mostly been focusing on selling individual policies largely to wealthy clients who can buy expensive products to earn them […] todayMay 10, 2024 14
insert_link Business / Economics Trustco increases stake in Legal Shield Holdings Trustco Group Holdings Limited has announced the acquisition of an additional 11.35% interest in Legal Shield Holdings Limited from Riskowitz Value Fund LP for N$ 468 million. The strategic transaction fortifies Trustco's investment footprint in the insurance and real estate sectors in Namibia, both primed for substantial growth in the post-pandemic landscape. The coveted assets acquired encompass Trustco Insurance Limited, Trustco Life Limited, and an extensive real estate portfolio spanning […] todayApril 23, 2024 37
insert_link Local TRUSTCO Group solidifies insurance and property holdings with strategic transaction. Trustco Group Holdings Limited (Trustco) today announced its acquisition of an additional 11.35% interest in Legal Shield Holdings Limited (Legal Shield) from Riskowitz Value Fund LP (RVF) for NAD 468 million. This will increase Trustco’s holding in Legal Shield to 91.35%. The strategic transaction fortifies Trustco's investment footprint in the insurance and real estate sectors in Namibia, both primed for substantial growth in the post-pandemic landscape. The coveted […] todayApril 23, 2024 5
insert_link Local Keeping your financial compass true Life is a journey filled with unexpected turns. While we plan for the future, significant changes in our circumstances can occur – marriage, children, career advancements, or even health concerns. These milestones can leave our long-term insurance plans misaligned with our current needs. This is why we need to emphasise the importance of regularly reviewing your insurance portfolio to ensure it remains a robust safety net, safeguarding your […] todayApril 5, 2024 8
insert_link Lifestyle Cellphone Use Is Biggest Cause of Distracted Driving Cellphone use by individuals operating a motor vehicle continues to be the largest contributor to distracted driving in the U.S., according to the latest Issues Brief from the Insurance Information Institute (Triple-I). “As drivers returned to the roads following the pandemic, distracted driving surged, causing higher rates of accidents, injuries, and deaths. This high-risk behavior has worsened in the years since, having huge implications for the insurance industry and their policyholders,” stated […] todayFebruary 7, 2024 11
insert_link South Africa SA’s Private healthcare faces uncertainty as president Cyril Ramaphosa signals the imminent enactment of the National Health Insurance Bill SA's Private healthcare faces uncertainty as president Cyril Ramaphosa signals the imminent enactment of the National Health Insurance Bill without changes. The Health Funders Association has warned the current version of the bill would significantly alter healthcare dynamics, limiting choices and tying citizens to a state-monitored system. Chairperson Craig Comrie believes under the NHI, individuals lose the right to privately pay for covered services, leading to lengthy waiting lists and […] todayJanuary 25, 2024 4
