Bidvest Insurance
Bidvest Insurance, a subsidiary of the Bidvest Group, is a licensed financial services provider in the short-term insurance market with a focus on value-added personal and vehicle insurance products. Bidvest Insurance is also known as part of the Bidvest Financial Services division of the South Africa-based Bidvest Group.
The company was founded in 1997 as part of McCarthy Motor Holdings or better known as McCarthy Insurance Services. Subsequently, in 2004, Bidvest Corporation entered into an agreement to acquire McCarthy Motor Holdings and McCarthy Insurance Services was renamed Bidvest Insurance under the Bidvest Financial Services division.
The Bidvest Insurance Group provides many different insurance products, such as commercial and personal lines, travel insurance, tire insurance, credit life, and other products relating to motor vehicles. The company's goal is to provide low-cost insurance while still preserving the best terms and benefits in every premium it quotes. Therefore, Bidvest offers affordable insurance products that most South Africans can afford. The average cost of contracts Bidvest concludes is always better value when comparing them to similar products from other South African insurers.
In accordance with Bidvest's expansion strategy of value-added acquisitions, Bidvest Insurance Group has announced that it acquired FMI, a life insurance management with a focus on income protection in 2016. As a result, Bidvest benefits from the expertise and niche products that this acquisition brings to the business. Additionally, the acquisition of Glassock & Associates, a pension fund manager with offices in Johannesburg, was also disclosed by Bidvest Insurance Group. Glassock's expertise in pensions and pension fund management has helped the company grow at a rapid pace in recent years. In addition, the addition of Bidvest Pension and Retirement Fund management as part of the acquisition expands the business scale and provides significant growth for both these well-known companies.
Founded: 1997
Headquarters: Umhlanga, KwaZulu-Natal, South Africa
Website: https://www.bidvestinsurance.co.za/
