The Land Bank seeks a qualified service provider for reinsurance brokerage services over a five-year term. Key requirements include expertise in agricultural insurance and compliance with South African regulations.
The Land and Agricultural Development Bank of South Africa is inviting proposals for the provision of reinsurance brokerage services for a period of five years. The successful bidder will be responsible for delivering comprehensive brokerage services, including risk assessment, placement of reinsurance, and ongoing advisory support tailored to the agricultural sector. This includes both life and non-life insurance products, with a focus on crop, livestock, and credit life insurance. The appointed broker will be expected to negotiate competitive terms, provide technical support, and ensure compliance with industry regulations.
The scope of work encompasses the design and structuring of reinsurance programs that align with the Land Bank's risk management framework, ensuring financial resilience against catastrophic losses. The service provider will also need to facilitate access to international reinsurance markets, manage claims effectively, and provide actuarial analytics to support decision-making. This tender is suitable for businesses with proven experience in agricultural insurance and a strong understanding of the South African reinsurance landscape, aiming to contribute to the Land Bank's mission of promoting agricultural and rural development.
This tender is suitable for established financial service providers with expertise in reinsurance and a focus on agricultural insurance, particularly those with a track record of compliance with South African regulations and experience in risk management.