WE’RE PARTNERING WITH A NEW INSURER

Dear Valued Client,

On the 26th of July 2022, Constantia Insurance Company Limited (CICL), our current insurer,

was placed under provisional curatorship. Constantia didn’t meet the minimum capital and solvency capital requirement as prescribed in the Insurance Act. A curator has been appointed to look after the current financial position of Constantia and safeguard the interests of existing policyholders.

According to the curator and various press releases by Conduit Capital, Constantia’s parent company, there’s no reason for any immediate concern and policyholders can still expect the same service from Constantia.

OUR NEW INSURER

After weighing up all our options, we believe it’s in the best interest of all parties involved to start afresh and it begins with the appointment of a new guardian.

I’m pleased to announce that Guardrisk Insurance Company Limited (Guardrisk), a wholly owned subsidiary of Momentum Metropolitan Holdings Group, is coming onboard as our new insurer from 1 September 2022.

With an AAA rating, steady liquidity and reserves for over a decade, I’m confident that this is the way to go.

WHAT DOES THIS MEAN FOR OUR POLICYHOLDERS?

It’s important to understand that appointing a new insurer doesn’t impact your policy and cover with Stratum Benefits in any way.

You’re, however, required to exercise an option between keeping your cover with Constantia or moving forward with Guardrisk as our new insurer.

IMPORTANT TO REMEMBER

Moving to Guardrisk means:

• your cover won’t be insured by Constantia any longer.
• your benefits, terms and conditions will remain the same.
• your monthly premium and premium collection process will remain the same.
• your appointed advisor will remain the same.

THANK YOU

From all of us at Stratum Benefits, we’d like to thank you for your support. Together, we’re

stronger and I’m confident that you’ll make the right move.

Kind regards,
Marco Fonto
Managing Director

Stratum Benefits (Pty) Ltd, an authorised FSP 2111, is underwritten by Guardrisk Insurance Company Limited, an authorised FSP 75.