About Red Sands Insurance Company (Europe) Ltd

Background

Licensed by the Gibraltar Financial Service Commission in January 2004, Red Sands Insurance Company (Europe) Limited currently underwrites the UK's third largest Mechanical Breakdown Insurance book. We are also specialists in Accident, Sickness, Miscellaneous Financial Loss, Legal Expense and Insurance Backed Guarantee products.

Being part of the same ultimate grouping as the Hollard Insurance Group, South Africa's largest independent and privately owned insurance group, we can access and tailor insurance products from an extensive knowledge base developed by insurance professionals over the years.

Financial Strength & Ownership

At December 2007, Red Sands boasts a balance sheet with assets in excess of £27m and shareholder equity exceeding £13m. Specifically impressive is the fact that Red Sands has a solvency margin of more than four times the European Union minimum requirement.

Our financial strength is further enhanced through reinsurance support purchased from the Hollard Insurance Group, With assets in excess of £800 million, Hollard is South Africa's largest independent, privately owned insurance group. A single business with both general (short term) and life licences, Hollard underwrites all classes of insurance in South Africa and has 25 years of uninterrupted underwriting profits.

Red Sands is a member of the Association of British Insurers, is a full supporter of the Financial Ombudsman Service and belongs to the UK's statutory fund of last resort, The Financial Services Compensation Scheme (FSCS). Also, Red Sands is now a member of the Motor Insurers Bureau (MIB).

For more information, go to www.redsands.gi

Source: 23/1/09 Red Sands (online). Available at: www.redsands.gi