Welcome to Garagesure Consultants and Acceptances


   
 
~ Insurance solutions for the retail motor industry, specifically the fuel industry ~
 
About Us:

Established in 2000, Garagesure Consultants and Acceptances (Pty) Ltd is an Underwriting Agency, on behalf of Compass Insurance Company Limited, that was already established in 2000.

Garagesure provides innovative insurance solutions for the retail motor industry and more specifically, for the fuel industry.

Based in Johannesburg, South Africa, we have, with the support of Compass Insurance Company Limited, Lireas Holdings Limited and Hannover Reinsurance Group Africa, established ourselves as a formidable player within our niche. Our ethos is to be an underwriting manager that is always approachable, flexible and where good underwriting skills and logic prevail.

Garagesure offers a variety of products via the short-term broker market, including general short term commercial cover and Fuel Guarantee.

We offer a multiperil, one stop shop for insurance on, but not limited to:
    Service Stations (Including workshops and convenience shops);
    Service Centres;
    Fitment Centres;
    Fuel Retailers;
    Other Businesses (Involved in the above mentioned industries).

 
Garagesure - Our Investors:
 
Principle
Shareholders
Reinsurer
 
 
 

Garagesure underwrites on behalf of Compass Insurance Company Limited. Compass, under the capable leadership of Paul Carragher, have consistently achieved strong financial results. They have an "A+" credit rating from Global Credit Rating.

Lireas Holdings (Pty) Ltd
, the investment arm of Hannover Re, is the majority shareholder of Garagesure Consultants & Acceptances. Mahogany Private Equity in turn own a 49% stake in Lireas Holdings.

Hannover Reinsurance Group Africa
is the holding company for the P&C (Hannover Reinsurance Africa), Life (Hannover Life Reassurance Africa), Speciality insurance (Compass) and Strategic Investment (Lireas Holdings) operations of Hannover Rückversicherung AG in Southern Africa.
Garagesure - Our Products:
  Fuel Guarantee Short Term Insurance
  Due to the nature of the fuel business and the high cost of holding stock, cash flow is one of the keys to the success of your business.

The business needs to generate enough revenue to meet daily, weekly and monthly expenses, and at the same time maintain stock levels to ensure uninterrupted trading in accordance with the fuel companies’ requirements. The retailer thus needs sufficient working capital to meet the demands of large fuel payments.

In order to do this, the retailer either takes out a large loan or provides an adequate overdraft facility. The need for a bank guarantee is over and above these requirements.

Without a guarantee, the retailer effectively trades on a ‘hard cash’ basis. Revenue needs to be in the account prior to payment for fuel, and delivery is only scheduled subsequent to payment. This working capital required is costly.

Read more on Benefits to the Retailer, also Advantages.
Our products are a result of innovative solutions driven by the emphasis on a risk management package based on prudent economic principles. Due to the nature of our target market which is prone to robberies and the loss of lives, it is imperative that risk management is an integral part of our focus by keeping abreast of market trends at all times. The policy is based on the standard multimark with specific extensions for the industry.

We issue cover on the following sections, but not limited to the following:

  • Accounts receivable
  • Accidental damage
  • Business interruption
  • Business all risks
  • Electronic equipment
  • Fidelity guarantee
  • Goods in transit
  • Motor traders: internal and external covers
  • Office contents

...and many more options. Contact us to discuss.

Read more on the result of innovative solutions.

Contact Garagesure:
Telephone: + 27 11 791-6602
Fax:  + 27 11 791-6361
Website: www.garagesure.co.za/
 
Financial Service Provider
FSB Licence Nr: 4467
   
     
~ Real insurance and Real Service ~

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