Prestgroup is born

Short term insurance
intermediary, Prestmarine,
celebrated its 25th anniversary
by announcing a name
change.
From January 1 next year
the company will be known
as the Prestgroup, managing
director Riaan Grobbelaar told
clients, service providers and
staff at a celebratory event on
the East Rand last week.
The new name is the result
of the company embracing its
evolution into a full service
insurance provider, said
Grobbelaar.
Prestgroup will operate two
divisions – Prestmarine and
Prestsure.
Grobbelaar said
Prestmarine would continue
to handle all insurance related to the movement of cargo,
while Prestsure would
focus on commercial and
personal lines insurance.
“It really allows the
company to grow in two
directions under one
identity,” he said.
Grobbelaar said the
creation of Prestgroup
had been a long time
coming as the company
had made major inroads
in the commercial and
personal insurance
industry in recent years.
“But the existence of
our commercial and
personal lines was not
always apparent due to the
established Prestmarine
brand.”
Grobbelaar’s father
founded Prestmarine in
1986 as a subsidiary of
Prestasi. The company has
seen major expansion in
the past 25 years, growing
from just two employees
to more than 30, with an
annual turnover in excess
of R100 million.