Bramer Life Insurance (Pty) Ltd Public Notice

Bramer Life Insurance (Pty) Ltd is a non-bank financial institution, regulated by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), and licensed under the Insurance Industry Act to carry on business as an insurer. Bramer Life Insurance (Pty) Ltd is a subsidiary of the British American Investments Co (Mtius) Group, which is a Mauritian financial services cluster duly regulated by Mauritian authorities. This notice follows recent developments in Mauritius in which the Bank Of Mauritius revoked the banking licence of Bramer Banking Corporation. The bank mentioned is a sister company of BAI Co (Mtius) Ltd (“BAI Co”), a licensed insurer in Mauritius both being subsidiaries of the BAI Group in Mauritius. In turn Bramer Life Insurance (Pty) Limited (“Bramer Life”) is a subsidiary of Bramer Group of Companies (Pty) Ltd which is ultimately wholly owned by BAI Co. (Mtius) Ltd. Given the aforementioned, and as a cautionary measure, notice is hereby given that NBFIRA has taken a decision to appoint Nigel Dixon-Warren of KPMG as a Statutory Manager of Bramer Life Insurance (Pty) Ltd in line with the NBFIRA Act. Policyholders and members of the public are informed that Bramer Life licence remains valid to transact insurance business, however under statutory management until further notice. For further information contact: Communications & Public Affairs on 3686152.