Santam is pleased to advise that it has acquired 100% of the shareholding in Travel Insurance Consultants (“TIC”). TIC is the leading travel insurance business in the South African market and has been in operation for 25 years. TIC will operate as a brand under the Santam license and will become a division of Santam with effect from 3 July 2013.
Santam is excited by the opportunity that this transaction presents to both Santam and TIC. Santam has acted as the underwriter to TIC since 1999 and this transaction will now enable both TIC and Santam to work closely together to provide an even better service to TIC’s business partners and clients.
Jason Veitch will assume the role of head of TIC, and will be supported by TIC’s management and staff.
Backed by Santam’s reputation and brand, TIC will continue to build its leadership position through its relationships within the travel market and leverage off Santam’s strength as the leading short-term insurer in South Africa.
All dealings with TIC and Santam will remain unchanged.