Who we are

The Specialist Short-Term Insurer

Compass Insurance Company Limited, "Compass", operates exclusively through Underwriting Management Agencies "UMAs". Compass is wholly owned by Hannover Reinsurance Africa Limited, which is a 100% owned subsidiary of Hannover Ruck SE (Germany).

What we do

A precision-engineered platform

Compass operates in the Short-term Insurance Sector, offering a value-added proposition to the market whilst generating appropriate returns for all business partners. Compass is focused on providing customised, innovative and cost-effective insurance solutions.

Our goals

  • Compass is focused on being a compelling business partner, with the systems, controls and service levels demonstrating a performance-driven culture
  • Compass strives to be the most efficient insurance platform in the sector
  • Compass manages its expense ratio to deliver value to UMAs and ensure a self-sustaining business model
  • Compass will execute its responsibility to protect its level of capitalisation and exposure to risk to ensure sustainability for both Compass and its partners
  • Compass has established itself as the leader in the creation of an efficient and effective UMA model
  • Compass is focused on delivering an attractive return as a business and for all its business partners
  • Our contribution to value-creation is measured by the standards of the international Hannover Re Group

Our promise

  • We are committed to paying valid claims
  • We support an open-door policy that allows for respectful debate
  • Our people are a critical factor in our success and we are committed to the principles of employee empowerment
  • Compass is committed to being a good corporate citizen
  • The Compass model is based on co-operation between connected spheres of expertise
  • Compass respects the specialist knowledge of each partner and facilitates the symbiotic relationship that is critical to business success
  • Compass operates with the highest degree of integrity

Our value proposition

Compass focuses on delivering:

  • A highly-rated and secure insurance license
  • A robust formula to enable and control a UMA model
  • Cost-efficiencies and value to all our partners
  • The best platform in the market through which to underwrite specialist insurance solutions defined by:
    • Access to capital
    • Access to secure capacity on a long-term basis
    • Efficient and robust business systems and processes
    • Controls that protect the integrity of the insurance promise
  • Highly-skilled, professional people that are focused on value creation for our key partners and our customers

Our rating

AA-(ZA)

2016 - GCR AA-(ZA) national scale claims-paying ability rating assigned to Compass Insurance Company Limited, with the outlook accorded as Stable.