About SRS

Introduction to SRS

The financial services industry offers consumers and participants a multitude of investment and finance opportunities. Within this industry, the insurance sector is one of the most exciting owing to innovative and far reaching developments in the captive insurance and self-insurance arena, as well as the modern trend to increase turnover through sales of insurance products to an existing customer base.

With the trend towards globalisation, South African companies are not only expected to compete and trade internationally, but to have knowledge of and access to international financial services and their range of benefits.

Insurance, as one of the most international and accessible of the financial services markets, presents a range of opportunities to which the South African corporate client should have informed and ready access.

It is within this environment that Sigma Risk Solutions (Pty) Ltd (SRS) operates, to facilitate and advise clients on the creation, establishment and operation of a variety of captive insurance facilities for companies both locally in South Africa, and throughout the rest of the world.

Having operated for almost two decades in the risk finance and captive insurance market, SRS is ideally resourced to offer a range of risk financing, captive management and related services to suit all aspects of our client’s national and international risk finance needs.


History of SRS

SRS (1) was created as a joint venture operation between International Risk Management Group (IRMG) and Professional Risk Consultants (Pty) Limited (Prorisk) in 1993, with the purpose of providing captive insurance company management services. IRMG was then a company providing risk management and captive insurance management services to corporate clients on a worldwide basis. IRMG shareholders included SwissRe Zurich (70%) and the management of IRMG (30%). Prorisk was owned 100% by Johan Wethmar. The joint venture objective was to facilitate an IRMG skills-transfer to SRS in order to provide and develop the captive insurance industry in South Africa.

In 1996 Johan Wethmar sold his interest in Prorisk to Marsh McLennan, and at the same time he acquired 100% interest in SRS. Johan Wethmar still holds a majority interest today.

SRS has for many years enjoyed an excellent reputation as a provider of independent risk management consultation and advisory service, and has focussed on a broad range of related services as outlined in the remainder of this document.

At this time, we believe that SRS is the leading independent provider of these specialist services. As you will see from our list of clients, a number of leading companies in South Africa utilise and enjoy the benefits of these services.


(1)

When originally established, SRS was known as Risk Management Consultants (Africa) (Pty) Limited. SRS re-branded to Sigma Risk Solutions (Pty) Limited in September 2011, so as to have a company name that was appropriately aligned with its core business offering and its claims management system.


Servicing Structure

  • Sigma Risk Solutions (Pty) Ltd

    Shareholders & Director(s):
    J.C.M. Wethmar 75,0%
    A.J. Wethmar 12,5%
    B.C. Wethmar 12,5%

    Independent Director(s):
    -

    Consultants:
    J.C.M. Wethmar, B.C. Wethmar

    Software Development:
    A.J. Wethmar

    Support Staff:
    E. Flatau, B. Hein, J. Ho,
    E. Strauss, P. Cronshaw, J. Hamilton-Atwell,
    H. Gurgul

    Provider of Risk Finance and Captive Management services.

    • 34% Shareholding
      • Risk Technical Services (Pty) Ltd

        PI (Engineering) Underwriter,
        CAR Underwriter (via RTS C&E)

        Provider of broad based administrative services in the Insurance Industry

        (with separate Shareholding, Directorship and Staffing Structure)

    • 75% Shareholding
      • ArakhNET (Pty) Ltd

        Information Technology Services
        (hardware, software, support, connectivity, mail)

        Registered and accredited with ICASA


        (with separate Shareholding, Directorship and Staffing Structure)




Sigma Risk Solutions (Pty) Ltd
Reg. No. M1993/004910/07
Authorised FSP License No.: 4348
FSP Representative: BC Wethmar
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