Lombard Insurance Company

Name

Lombard Insurance Company

Legal name

Lombard Insurance Company Limited

Website

https://www.lombardins.com/

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Specialty Short-term Insurance

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (52421), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Other Direct Insurance (except Life, Health, and Medical) Carriers (524128)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411), Insurance Carriers, Nec (6399)

akta.pro primary industry

Commercial Lines Insurance Brokerage (FSAEADAB)

akta.pro secondary industries

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ), Commercial Property Insurance (FSAJACAE), Mid-Market Commercial Package (Package Policies) (FSAJAFAB), Restaurants, Bars & Food Service BOP (FSAJAFAG), Professional Firms BOP (Office/Professional) (FSAJAFAE), Healthcare Offices BOP (Medical/Dental/Vet Clinics) (FSAJAFAL), Nonprofit / Social Services BOP (FSAJAFAM)

Keywords

• Specialty short-term insurance
• Underwriting management agencies
• Commercial insurance brokerage
• Contract surety guarantees
• Trade credit insurance

Headquarters

HQ city

Johannesburg

HQ country

South Africa

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Specialty short-term insurance underwriting premiums: Earned premium income from underwriting specialist short-term commercial and corporate insurance in South Africa (e.g., guarantees/contract surety, engineering, marine, motor fleet, professional indemnity, commercial crime, medical malpractice, gap cover, personal lines, human risks), distributed through partner UMAs and divisional teams; ~R22bn of South African short-term market estimated at UMA-level with specialist lines 40–50% of that value.
2. Investment income on insurance float and capital: Investment returns on policyholder reserves and shareholder capital managed under Chief Investment Officer Gareth Neilson, supported by R5.6 billion in assets as at June 2024 and an A+ GCR claims-paying rating.
3. Reinsurance commission and capacity placement: Earned through dedicated in-house reinsurance team placing treaties with local and international reinsurers and providing capacity to UMAs; commissions earned on ceded premium and capacity fees from partners.
4. Mechanical warranty and ancillary product administration (via AMP): AMP underwrites motor mechanical breakdown warranties, Performance Plus warranty shortfall, tyre/rim, leisure and administers service plans, Auto Bodywise exterior maintenance and roadside assistance on Lombard's insurance licence; revenue mix of premiums and admin/service fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Lombard Insurance Company Limited is a specialist short-term commercial insurer in South Africa that provides underwriting capacity, capital, reinsurance placement, regulatory infrastructure, business advisory support and shared technology and data services to a network of 10 niche Underwriting Management Agencies (UMAs) and 3 in-house divisional teams. Its divisional partners (Lombard Guarantee and Lombard Human Risks) and UMA partners collectively underwrite contract guarantees and trade credit, engineering, marine, motor fleet, professional indemnity, medical malpractice, medical gap cover, commercial crime, personal lines, motor warranties, and personal accident/travel/medical/kidnap & ransom risks for commercial, corporate and individual clients in the South African market.

Product overview

Lombard Insurance Company Limited is a platform-plus-modules architecture: a specialist short-term commercial insurer that operates as a financial backbone for a network of niche Underwriting Management Agencies (UMAs) and in-house divisional teams. The core offering is underwriting capacity, capital provision, reinsurance, regulatory and compliance infrastructure, and shared Technology & Data services consumed by partner brands. Sitting on this platform are ten UMA partners (Ami Personal Lines, Commercial Crime Concepts / C3, Consort Technical Underwriting Managers, Credeq Africa, Genoa Underwriting Managers, Horizon Underwriting Managers, Leppard Underwriting, Motor Acceptances, Turnberry Medical Gap Cover, and AMP Motor Warranties) and two Lombard-owned divisional partners (Lombard Guarantee and Lombard Human Risks). Together these offerings cover personal lines, commercial crime, engineering, medical malpractice and gap cover, marine, professional indemnity, motor fleet, motor warranties, guarantee and trade credit, and personal accident/travel/medical/kidnap & ransom risk across the South African market.

Differentiator

Problem solved

Functional benefit

Brands

• Lombard Guarantee: Leaders in providing specialist risk solutions for guarantee and trade credit insurance across multiple industries. A divisional partner operating under Lombard Insurance.
• Lombard Human Risks

Products and services

• Lombard Guarantee Specialist risk solutions for guarantee and trade credit insurance across multiple industries, including performance guarantees for the construction industry and contract guarantees for civil engineering, building, manufacturing, steel fabrication, shutdown/demolition, instrumentation, supply/installation of capital-intensive equipment, and IT system implementation, including utility-scale renewable energy projects via project finance structures.
• Lombard Human Risks Specialist insurance solutions to protect people, including Personal Accident, Travel, Emergency Medical and Kidnap & Ransom cover for Corporate, Family, Hospitality and School Protection, plus Cyber Extortion and Political Evacuation, offered throughout South Africa and Africa.
• Ami Personal Lines Boutique underwriting manager providing bespoke personal-lines insurance (homes, contents, vehicles, valuables, motorcycles, boats) for wealth clients and aspirational professionals, with Personal Plans (insured assets under R4m combined) and Wealth Plans (insured assets over R4m combined) and excess-free and average-free options.
• Commercial Crime Concepts (C3) Specialist provider of Commercial Crime Insurance covering employee dishonesty, computer fraud, computer virus, electronic data loss, extortion and fraudulent transfer instructions; uses a franchise model rather than deductibles and funds claim investigations at its own expense.
• Consort Technical Underwriting Managers Founded in 1999, underwrites engineering classes on behalf of Lombard including Contract Works (CAR/EAR), Electronic Equipment, Plant All Risks, Construction Industry Public Liability, Machinery Breakdown, Business Interruption and Deterioration of Stock, with treaties backed by the world's largest local and international reinsurance companies.
• Credeq Africa Part of the Credeq Group, a global network of guarantee, credit insurance, specialist financial risk and fintech businesses across Africa, Europe, the UK, and Australia; provides guarantees and credit insurance solutions, with Lombard's Guarantee division set to become an independent UMA within the group.
• Genoa Underwriting Managers Specialist Medical Malpractice insurance for over 6,800 medical practitioners and prominent medical institutions in South Africa, plus a Business Rescue / Restructuring insurance team with cumulative experience of 100+ years; customisable limits, varying excess options including zero excesses, retroactive cover and AERP solutions.
• Horizon Underwriting Managers Underwriter of marine import, export, cross-voyage, transit, stock throughput, pleasure craft, charterers, stevedores, container liabilities, and confiscation/deprivation cover, plus certain marine liabilities such as Warehouseman's and Carrier's Legal Liability, with offices in Johannesburg, Durban and Cape Town.
• Leppard Underwriting Specialist provider of Professional Indemnity, Directors & Officers Liability, Events Liability, Financial Institutions, General Liabilities (Broadform and Products), Security Liability and Single Projects PI covers, protecting professionals, entrepreneurs and corporates against high-impact risks.
• Motor Acceptances Established in 2000, specialises in Motor Fleet Insurance, offering incentive-based options and solutions to brokers and clients managing commercial vehicle fleets in South Africa.
• Turnberry Medical Gap Cover Founded in 2001, FSP no. 36571, offering gap-cover products (Premier, Optimal, Synergy, Launch, Med-Extend, Extended Family Cover, Travel Assist) bridging the gap between medical aid cover and procedure costs.
• AMP Motor Warranties Advantage Motor Protector (AMP), in business since 2001, offers monthly, one- and two-year mechanical breakdown warranties (Motor Mechanical Breakdown, Performance Plus shortfall, Tyre and Rim, Leisure) plus non-insurance products (Service Plans, Auto Bodywise, Roadside Assistance); manages over 20,000 active motor warranties on Lombard's insurance licence.

Quantifiable outcome

• US MGA market showing 20% year-on-year growth with ~$102 billion in premiums in 2023, with Lombard expecting South African UMA specialist lines to follow the same trajectory
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability5 records

Feature6 records

Partnerships

27 partnerships are on record, tiered core uma partner (personal lines), core uma partner (commercial crime), core uma partner (engineering), flagship partner (guarantee/credit), core uma partner (medical malpractice & business rescue), core uma partner (marine), core uma partner (professional indemnity), core uma partner (motor fleet), core uma partner (medical gap cover), flagship division (becoming independent uma under credeq), flagship division (personal accident, travel, medical, k&r), core partner (motor warranties), global partner (australian market access), global partner (capacity & strategic firepower), global partner (guarantee solutions), global partner (diversified insurance group), flagship industry collaboration (fire risk), core csi partner, csi partner, flagship csi partner (founder legacy) and flagship csi partner (school leadership).

• AMI (Ami Lifestyle Insurance)core uma partner (personal lines)Channel Partner/ Reseller/ DistributorAmi is a boutique underwriting manager distributing Lombard's personal-lines policies (home, contents, vehicles, valuables, motorcycles, boats) to wealth clients and young professionals in South Africa. Operates Personal Plans (<R4m combined insured assets) and Wealth Plans (>R4m combined insured assets). Lombard's partnership portfolio manager is Elmé Strauss.
• Commercial Crime Concepts (C3)core uma partner (commercial crime)Channel Partner/ Reseller/ DistributorC3 is a specialist provider of Commercial Crime Insurance (employee dishonesty, computer fraud, computer virus, electronic data loss, extortion, fraudulent transfer instructions) acting as a Juristic Representative under Lombard's insurance licence. Uses a franchise rather than a deductible and investigates claims itself at its own expense.
• Consort Technical Underwriting Managerscore uma partner (engineering)Channel Partner/ Reseller/ DistributorFounded in 1999, Consort underwrites Contract Works (CAR/EAR), Electronic Equipment, Plant All Risks, Construction Industry Public Liability, Machinery Breakdown, and Business Interruption/Deterioration of Stock on behalf of Lombard. Treaties backed by the world's largest local and international reinsurance companies.
• Credeq Africa (part of Credeq Group)flagship partner (guarantee/credit)Strategic or Co-development PartnerCredeq Africa is part of the newly formed Credeq Group - a global network of guarantee, credit insurance, specialist financial risk and fintech businesses across Africa, Europe, the UK, and Australia. Lombard's Guarantee division is becoming an independent UMA and partner to Lombard under the Credeq Group, leveraging a global brand while maintaining regional independence. Lombard also partners with Credeq on CSI initiatives.
• Genoa Underwriting Managerscore uma partner (medical malpractice & business rescue)Channel Partner/ Reseller/ DistributorGenoa specialises in Medical Malpractice insurance (covering 6,800+ South African medical practitioners and prominent medical institutions) and Business Rescue/Restructuring insurance. Team has 100+ years of cumulative experience.
• Horizon Underwriting Managerscore uma partner (marine)Channel Partner/ Reseller/ DistributorHorizon Underwriting Managers (Pty) Ltd offers brokers world-class technical underwriting skills for marine import/export, transit, stock throughput, pleasure craft, charterers', stevedores' and container liabilities, plus confiscation and deprivation cover. Offices in Johannesburg, Durban and Cape Town.
• Leppard Underwritingcore uma partner (professional indemnity)Channel Partner/ Reseller/ DistributorLeppard specialises in Professional Indemnity, Directors and Officers Liability, Events Liability, Financial Institutions, General Liabilities, Security Liability, Single Projects PI and related cover, protecting professionals, entrepreneurs and corporates against high-impact risks.
• Motor Acceptancescore uma partner (motor fleet)Channel Partner/ Reseller/ DistributorEstablished in 2000, Motor Acceptances specialises in Motor Fleet Insurance, offering incentive-based options and solutions to the motor fleet market. Lombard's partnership portfolio manager is Karla Prinsloo.
• Turnberry Medical Gap Covercore uma partner (medical gap cover)Channel Partner/ Reseller/ DistributorFounded in 2001, Turnberry is a registered financial services provider (FSP no. 36571) offering Premier, Optimal, Synergy, Launch, Med-Extend, Extended Family Cover and Travel Assist gap-cover products in conjunction with South African medical aids.
• Lombard Guarantee (divisional partner)flagship division (becoming independent uma under credeq)Strategic or Co-development PartnerLombard Guarantee are leaders in providing specialist risk solutions for guarantee and trade credit insurance across multiple industries (construction, engineering, fuel, mining, transport). Underwriting contract guarantees in sub-Saharan Africa. Will become an independent UMA under the Credeq Group brand.
• Lombard Human Risks (divisional partner)flagship division (personal accident, travel, medical, k&r)Strategic or Co-development PartnerBased in Johannesburg, offering services throughout South Africa and Africa. Specialises in Personal Accident, Travel, Emergency Medical and Kidnap & Ransom insurance for corporates, families, hospitality and schools. Lombard's partnership portfolio manager is Elmé Strauss.
• AMP (Advantage Motor Protector)core partner (motor warranties)Channel Partner/ Reseller/ DistributorAMP has been in business since 2001, specialises in motor mechanical breakdown warranties, Performance Plus warranty shortfall, Tyre & Rim, Leisure Warranty (motorcycles, quads, caravans), and administers Service Plans, Auto Bodywise exterior maintenance and Roadside Assistance. Manages over 20,000 active motor warranties. AMP underwrites on Lombard's licence.
• Assetinsureglobal partner (australian market access)Channel Partner/ Reseller/ DistributorProvides insurance for DBI, surety bonds, lease bonds, enthusiast motor insurance, owner builder insurance and credit enhancement in Australia; part of Lombard's global partner network.
• Correlationglobal partner (capacity & strategic firepower)Strategic or Co-development PartnerCorrelation backs insurance entrepreneurs globally, bringing private patient capital, strategic firepower, underwriting strength and capacity to every partnership.
• Nordic Guaranteeglobal partner (guarantee solutions)Strategic or Co-development PartnerProvides similar protection as traditional bank guarantees with deep expertise in risk analysis and risk control, offering tailored guarantee solutions with flexible handling and competitive terms. An insurer for a number of international insurance distributors.
• Red Sands Insurance Groupglobal partner (diversified insurance group)Strategic or Co-development PartnerAn independent insurance group operating across multiple market sectors with a diverse range of products and services; develops a sustainable portfolio of insurance products and uses partnership expertise to drive value.
• Quick Reaction Force (QRF) collaboration: Leading Edge Aviation, LEFPA, WFPA, Hollard, Santam, Old Mutual Insure, Bryte, Infiniti Insuranceflagship industry collaboration (fire risk)GTM or Marketing PartnerCross-insurance-industry collaboration (November 2025) combining aerial fire response (Leading Edge Aviation), on-the-ground expertise (Lowveld & Escarpment Fire Protection Association, Winelands Fire Protection Association) and insurer peers (Hollard, Santam, Old Mutual Insure, Bryte, Infiniti Insurance). Has delivered lasting impact in the Lowveld and Stellenbosch regions.
• Bokamoso Education Trustcore csi partnerOthersCSI partner providing a platform to fund children's education (Grade 000 to 12) for children in need through individual monthly donors and corporate contributions.
• Bethany House Trustcsi partnerOthersCSI partner established in 1998 providing shelter, access to primary health services and education for young people through national and provincial programmes.
• Forgoodcsi partnerOthersCSI partner operating an online platform that connects passionate people with needy organisations; used to engage Lombard staff in employee volunteer programmes.
• George Lombard Education Foundation (GLEF)flagship csi partner (founder legacy)OthersCSI partner established at end of 2011 after George Lombard's passing in 2011; provides bursaries for undergraduate studies in business and science (currently only at the University of Witwatersrand) for disadvantaged South African students who show academic excellence. PBO status with SARS.
• Heartlinescsi partnerOthersCSI partner using media, technology and partnerships with key institutions to shift social norms and promote positive values across South Africa.
• Uplands Outreachflagship csi partner (school leadership)OthersSince 2007 Lombard has supported 125+ school leaders in four cohorts through the Advanced Diploma in Education (ADE) in collaboration with the University of Johannesburg, the Department of Basic Education, and Uplands Outreach; programme lifted Insikazi circuit ranking from 37th to 7th in Mpumalanga and pass rate from 56% to 88.9% across 24,000+ learners.
• Kgwale Le Mollo Foundationcsi partnerOthersCSI partner identifying talented young students from economically disadvantaged rural communities in Mpumalanga and awarding five-year scholarships to Uplands College as a leadership development programme.
• Maths Buddy / South African Mathematics Foundation (SAMF)csi partnerOthersCSI partner delivering the My Maths Buddy 1 Book 1 Learner Project; has workshopped 3,000+ maths teachers and 24,000+ learners with a 14% average increase in maths results across programme schools.
• The Link (literacy & numeracy programme)csi partnerOthersCSI partner running 19 Link Centres in Johannesburg schools providing literacy and (in 7) numeracy support to over 1,000 children in Grades 2 and 3 weekly.
• Xpose Leadership Development Programmecsi partnerOthersCSI partner using entrepreneurship to expose underprivileged learners and unemployed youth from disadvantaged low-income households to knowledge and skills for entrepreneurial intent.

Scale indicators11 records

Recent moves8 records

Expansion highlights7 records

Broad incumbents

• Santam: Santam is South Africa's largest short-term insurer and the dominant broad-line commercial and personal lines carrier listed on the JSE. It competes with Lombard in engineering, marine, motor fleet and commercial crime via its own specialist divisions and UMAs, and is a co-participant with Lombard in the QRF fire-response collaboration. Comparable as a peer for specialist broker-distributed underwriting in the SA market.
• Hollard Insurance Group: Hollard is a large privately held South African insurer operating across personal, commercial and specialty lines via partner and UMA structures, very similar in architecture to Lombard's model. Bert Carlin, Lombard's longest-serving non-executive director, also serves on Hollard group boards. Hollard is a direct competitor in marine, commercial crime and personal lines and a QRF collaboration partner.
• Old Mutual Insure: Old Mutual Insure is the short-term insurance arm of Old Mutual Limited, one of Africa's largest financial services groups. It underwrites personal, commercial and specialist lines in South Africa and broader Africa. It competes with Lombard in motor fleet, engineering and commercial lines and is a co-participant in the QRF aerial fire-response initiative alongside Lombard.
• Bryte Insurance: Bryte Insurance is a South African specialist commercial and corporate short-term insurer owned by Momentum Metropolitan, focused on commercial property, engineering, liability and specialist risks via broker distribution. It is a peer to Lombard's specialty engineering and commercial crime lines and a QRF collaboration partner.

Direct peers

• Infiniti Insurance: Infiniti Insurance is a South African specialist short-term insurer operating through a UMA partner model similar to Lombard's, distributing niche commercial and personal lines through brokers. Direct competitor in the South African specialist broker-distributed space and a QRF collaboration partner alongside Lombard.
• Renasa Insurance Company: Renasa is a South African specialist non-life insurer underwriting niche commercial and personal lines through brokers, with a similar mid-tier asset base and partner distribution model to Lombard. Comparable as a direct peer in specialist broker-distributed underwriting with overlapping lines in motor, property and liability.
• EthiQal (part of Constantia Insurance Group): EthiQal is a South African specialist medical malpractice insurer and a direct competitor to Lombard's Genoa Underwriting Managers UMA, serving medical practitioners and institutions. Operates on a similar specialist-niche, broker-distributed model underwritten on a partner carrier's licence.
• Centriq Insurance: Centriq is a South African short-term insurer focused on niche commercial, engineering and personal lines distributed through brokers, with a partnership and UMA-oriented architecture similar to Lombard. It is a comparable mid-tier specialist insurer competing for the same broker and partner capacity relationships.

Emerging players

• King Price Insurance: King Price is a fast-growing South African digital-first insurer known for data-led pricing and direct/broker distribution across personal and commercial lines. It is comparable to Lombard as a tech-enabled, data-driven South African insurer, though it skews toward personal lines and direct-to-consumer rather than the UMA partnership model.

Others

• Coronation Fund Managers (specialty insurance-linked assets): Coronation is a leading South African asset manager. Relevant as an 'others' comparator because Lombard's investment income on its R5.6bn float is managed by a Chief Investment Officer with deep institutional asset-management expertise and competes for capital and talent against SA-based investment managers like Coronation. Useful for triangulating investment-income economics of a mid-tier SA insurer balance sheet.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/LombardInsurance

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lombard Insurance Company