Underwriting services are provided by some large financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee.
Find below are the list of Underwriters In South Africa
AFRICAN REINSURANCE CORPORATION SOUTH AFRICA LIMITED
OUTsurance Durban
SA Underwriting Agencies (SAU)
Oneplan Insurance
IUM (Insurance Underwriting Managers) Pty Ltd
Hollard Insurance Company
Renasa Insurance Company Limited
New Era Life Insurance
Camargue Underwriting Managers (Pty) Ltd
Brolink
Vulindlela Underwriting Managers
Prime Meridian Direct Car Insurance
Associated Insurance Brokers (Pty) Ltd
FRONTLINE UNDERWRITING MANAGERS (PTY) LTD
OUTsurance Bedforview
African Motor Underwriters (Pty) Ltd
BrightRock Head Office
RGA Reinsurance Company of South Africa Ltd
Reid Raetzer Insurance Brokers
What does an underwriter do?
An underwriter is a financial expert who takes a look at your finances and assesses how much risk a lender will take on if they decide to give you a loan. More specifically, underwriters evaluate your credit history, assets, the size of the loan you request and how well they anticipate that you can pay back your loan.
How far back do underwriters look?
Income and employment: Most of the time, underwriters look for around two years of steady income. They’ll probably ask to see previous your tax returns or other records of income. You might have to provide additional paperwork if you’re self-employed.
Is underwriting a stressful job?
The job itself is pretty much thankless and stressful. It normally pays well though, so that can be an offset to the stress level. As a P&C underwriter, you always need to be prepared for the day when a large loss will appear on a risk written by you.
Can I borrow money from my Sanlam retirement annuity?
Answer: Bheki, You can only borrow money from your Sanlam Provident fund if your Fund rules permit this and the loan is for a purpose as specified by the Pension Funds Act (ie housing related).
Is underwriting the last step?
No, underwriting is not the final step in the mortgage process. You still have to attend closing to sign a bunch of paperwork, and then the loan has to be funded. The underwriter might request additional information, such as banking documents or letters of explanation (LOE).