WE RE PROUD TO SAY THAT ESTABLISHING SASRIA WAS A STRUGGLE

Transcription

1 WE RE PROUD TO SAY THAT ESTABLISHING SASRIA WAS A STRUGGLE June 16, 1976, has a special significance for us at Sasria. The selfless courage of the Soweto students who marched that day against tyranny and oppression did more than pave the way to freedom. Because the voice of this new generation refused to be silenced - and the protests spread country-wide - the short-term insurance industry of the time was reluctant to provide cover for political risk. The SA government was forced to step in and as a result of discussions with the South African Insurance Association (SAIA) over the next couple of years, Sasria was formed in Now, 36 years later, Sasria is still as relevant and as indispensable as it s ever been. But we don t just consider our role as providers of insurance cover for material damage, the loss of or damage to money, motor vehicles and business interruption caused by civil unrest. As we see it, our responsibility lies in helping people to get back on their feet after they ve experienced a loss of, or damage to an enterprise, or the loss of a vehicle. In this way, none of our customers will ever have to struggle. For more information visit or E mail: contactus@sasria.co.za or contact us on

2 1970 s As the Soweto riots spread countrywide, short-term insurers are reluctant to provide cover for political risk, so the government starts discussions with the SAIA. Sasria is formed in 1979 as a Section 21 company, with a loss limit of R50 million s GWP reaches R1 billion. The inclusion of net profit in the product offering is introduced. Product enhancements include free cover for extensions, personal and commercial lines. And Sasria is given a resounding thumbs up by receiving a FIA Award for exceptional support and service. KEEPING EXCEPTIONAL RISK IN SAFE HANDS FOR THE LAST 36 YEARS s Sasria grows from strength to strength with various product enhancements. Also, innovations such as the South African Actuarial Development Programme (SAADP) are established to help transform the financial industry. The loss limit, by now, is increased to R1.5 billion. Due to the enormous rise in civil disobedience, especially in the Vaal Triangle township rebellion that results in two States of Emergency being imposed, the Sasria insured loss limit is doubled to R100 million s Nelson Mandela is released, and within four years, South Africa finally becomes a democracy. Sasria is converted to a tax-paying limited company, and Sasria Member companies become Sasria agents. During this time, the loss limit is increased to R300 million. As providers of insurance cover for material damage, the loss of or damage to money, motor vehicles and business interruption caused by civil unrest. For more information contact your broker or insurance company. Alternatively visit or E mail: contactus@sasria.co.za or contact us on s

3 MULTIPLY THE AMOUNT OF MATHS STUDENTS, SUBTRACT ALL THE OBSTACLES, AND IT ADDS UP TO ONE THING: TRANSFORMATION As the preeminent supplier of short-term cover against civil unrest, no one can appreciate the need for transformation more than we can. This is why our corporate social investment efforts are focussed on programmes that make a tangible difference. Like the Actuarial Development Programme we developed in Its aim is to identify and develop mathematical and analytical skills amongst black students, so that they can be helped onto the first rung of the ladder in actuarial science. To date, 109 students have graduated and 13 have qualified as actuaries. And every single one has found full-time employment in the financial sector. In 2009, in partnership with the University of Johannesburg, we established a Maths and Science Centre in Soweto. This assists teachers in raising standards of maths and science in black communities. It also offers tuition to 600 students per annum. Furthermore, partnering with the Gauteng Department of Education, we have been involved in projects such as SCI-BONO, a mobile lab that provides extra maths and science classes to around students in the province. By doing our bit to help transformation maybe there ll be a little less division in our society. For more information visit or E mail: contactus@sasria.co.za or contact us on

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