Specie

Having over 17 years of experience in the Specie market and managed risks for various Underwriting syndicates at Lloyds of London, several Underwriters felt it necessary to set up a specialist company in South Africa to cater for business on the African continent.

Due to a longstanding relationship, many years of working within the industry and a wealth of experience Richard Pearson was approached to fulfil this function.

Osprey Underwriting Managers (Pty) Ltd. was initially set up to assist with risk management and the development of new business on the African continent for Lloyds; however, it soon became apparent that there was a need for specialist advice and insurance solutions to cater for the ever-changing market.

We were provided with a dedicated line slip incorporating various syndicates at Lloyds of London who are well experienced in writing business on the African continent.

Our backing syndicates have provided this line slip facility as an initial channel to facilitate business, however we are reviewing our options to either apply for Cover Holder status or alternatively align with a local Insurance Company of our choice.

Osprey Underwriting Managers (Pty) Ltd. are a full binder holder with Guardrisk Insurance Company Ltd. and have agreed limits as well as claims handling authority.

We will ensure at all times that Osprey Underwriting Managers (Pty) Ltd. provide our producing brokers with suitable advice and competitive quotes.

SPECIE PRODUCT LINES

The following are the main product lines offered by Osprey Underwriting Managers (Pty) Ltd., at present:

  • Assets in Transit (Cash, Bullion, Precious Metals, Precious Stones, Negotiable Instruments)
  • Deposit Taking Devices (Static and Transit Exposures)
  • Fidelity Risks (Contract Specific or General)
  • Fine Art and Collectables
  • General Specie
  • Mining (Static and Transit Risks)
  • Static Vault/Safe Cover
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CLIENT PROFILES

  • ATMs
  • Cash in Transit – with Associated Risk
  • Banks and Financial Institutions
  • Diamond Dealers and Traders
  • Diamond Polishers, Processers and Setters
  • Diamond Retailers and Wholesalers
  • Government Institutions
  • Precious Metal Mines and Mining Companies
  • Refineries