Letsema has a genuinely long-term partnership mentality based fundamentally on shared values with a long track record of values-based decision making and deep expertise in M&A, capital raising, and growth focused strategy development and execution.
The Letsure Group was set up in response to a unique convergence of market dynamics that create growth and transformation opportunities in the local short term insurance market. These include:
- Legislative and regulatory changes that are driving increasing costs of compliance and revenue compression for many market participants, making it difficult for smaller businesses to compete.
- The emergence of strong digitised central administrative platforms is driving the need for change through operational and compliance efficiencies, resulting in scale becoming a necessary imperative.
- The South African market is also extremely fragmented with some unique characteristics. There are over 6,000 brokerages in the local market with the average business owner/manager approaching retirement age where contemplations around succession planning, retirement planning and realizing some value for ones’ life’s work are very much front of mind.
- A historic lack of transformation in the sector creating risks to growth and customer retention.
Sadly, these dynamics make it difficult for smaller businesses, often with excellent client relationships, to compete as they are disproportionately negatively affected by these drivers of change, we are seeing in the industry.
The Letsure Group’s vision is to build a leading black-owned, nationally represented intermediary group in the commercial insurance sector. One that is positioned and structured to address these systemic, regulatory and commercial challenges facing existing intermediary businesses. These unique market dynamics present a compelling opportunity for established operators to partner with Letsure:
- To alleviate these many pressures;
- To facilitate real and meaningful growth; and/or
- To provide an opportunity to have a respectful and values-based conversation around succession planning and valorising one’s life’s work through a transaction with a partner that genuinely respects the legacy of what has been built over many years.
If any of this resonates with you please get in touch with Keith van Niekerk for an introductory conversation.