A foundation of Renasa's philosophy is to reward responsible risk management with economic insurance. This, together with innovative products, provides benefits to our policyholders which distinguishes Renasa in the market.

We believe that sustainable profitability comes from sound relationships with our business partners. The basis is an alignment of mutual interest around highly economic insurance products backed by personal service. We believe in relationship building rather than a transactional relationship and we believe in flexibility that translates into meaningful action.

At Renasa, you have access to key management resulting in a swift decision-making process and agility and flexibility that translates into action in far less time than the corporate environment normally permits. Renasa has increased its number of experienced commercial underwriters ("the greyheads") to such an extent that we can claim to have greatest number of experienced commercial underwriters per rand of premium income in the country. This depth of experience will ensure a more efficient turnaround and assessment period. Renasa will be targeting small and medium Commercial and Industrial business, and in this target market, Renasa will be able to offer unparalleled service and rates. The above is only achievable, when insurance is used for it's intended purpose of protection against unforeseen events, as opposed to mitigating the cost of misbehaviour or mismanagement.

Our alignment strategy ensures that all links in the insurance distribution chain are focused on, and are rewarded for the achievement of improved claim ratios ensuring more efficient premiums.

Renasa's Commercial Insurance caters for the small to medium commercial and industrial sectors using the standard MULTI MARKIII Policy wording. This cover however is not intended for manufacturing, textile, plastic and similar hazardous risks.

The risk profile of the target market in respect of exposure is as follows:

• Fire;  R5 Million
• Burglary, Bar, Glass, Money and Other Miscellaneous Lines; R250,000.
• Electronic Equipment; R500,000 any one risk
• Goods in transit; R300,000 any one load
• Liability; R2.5 Million any one occurrence
• Personal accident and stated benefits; R1 Million any one life. R5 Million accumulations
• Car, Ear, Erection all risks and engineering; R500,000.

Kwazulu Natal:
Gateway Auto City, 2nd Floor, 2 Jubilee Grove, Umhlanga Rocks
P.O. Box 1423, Umhlanga Rocks, 4320
Tel: (031) 566-3337
Fax: (031) 566-4864

Western Cape:
Ground Floor, Liesbeek House, River Park, River Lane, Mowbray, 7700
Tel: (021) 680-5058
Fax: (021) 680-5262

Renasa was granted an unrestricted short-term insurance license to underwrite any class of short-term insurance business in terms of the Short term Insurance Act. The cessation of operations by Reliance Europe's parent led to the sale of Renasa, at which point Renasa entered a period of "run off". The rebirth occurred in January 2002 when a consortium of shareholders acquired Renasa. Underwriting activity recommenced in September 2002. At the beginning of 2004 the total reconstruction of the company commenced.

Since then, Renasa has been totally transformed by:

• the consolidation of its shareholding into a holding company backed by a shareholder of considerable financial strength;
• the restructuring of its Board;
• the restructuring of its executive;
• the development of its infrastructure;
• the consolidation of its business operations at a new head office in Johannesburg;
• the securing of favourable reinsurance programmes;
• the establishment of a technical partnership with Aon Re; and
• the implementation of a new strategy which aims to deliver the benefits of improved underwriting performance to policyholders and Renasa's distribution chain by the alignment of business objectives among all links in the insurance distribution chain.

Renasa has been rated BBB+ by Global Credit Rating Co. ("Global"). The combination of stronger reinsurance support and the recent recapitalisation significantly raises the quality of Renasa's paper. In Global's words, the BBB+ rating granted to Renasa "(which benchmarks Renasa against the best credit risks in the industry) is a testament to the remarkable change experienced by the company in the past two years, underpinned by the quality of the business model and management team."

Renasa has fulfilled its Charter objectives through several initiatives involving designated persons and members of previously disadvantaged communities.

To this end, Renasa has:

• engaged in associations that achieve the Charter's ends, including the Embomini Portfolio Management Venture, which achieves broad based empowerment by the development of over 300 BEE brokers:
• firstly, by providing them with an opportunity to develop a participation in the underwriting of the risks they market; and
• secondly, by providing a selection of specifically developed products suited to the markets they service;
• empowered its staff by:
• developing the skills of, and mentoring members of previously disadvantaged communities; and
• employing from designated groups in all levels of the company's human resources;
• developed a range of products specifically designed to meet the needs of previously disadvantaged communities, including policies for:
• shopkeepers;
• small manufacturers;
• small hospitality operators; and
• schools and churches.
• sponsored RITE (Renasa Insurance Training and Education) which promotes the "Alphaland" programme. This initiative aims to uplift underprivileged communities by contributing to the "Foundation Phase" of education where the groundwork for future learning is set. The programme has already been introduced to 200 classes and RITE aims to reach 1000 classes by the end of 2007.