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.
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Servicing Structure
- Sigma Risk Solutions (Pty) Ltd
Shareholders & Director(s):
J.C.M. Wethmar
A.J. Wethmar
B.C. Wethmar
Independent Director(s):
-
Consultants:
J.C.M. Wethmar, B.C. Wethmar
Software Development:
A.J. Wethmar
Support Staff:
B. Hein,
J. Ho, C. Casaval,
M. Steenkamp
J. Subrayen, S, Steenkamp
Provider of Risk Finance and Captive Management services.
- 34% Shareholding
- 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)