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.
