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5 of the Best Business Insurance Providers in Johannesburg, Reviewed! Homepage

7 of the Best Business Insurance Providers in Johannesburg, Reviewed!

Coverage – Is the policy focused on covering risk solutions? Does it aim to protect employees too? We looked at what each business insurance policy covers and gave higher points to those with wider coverage.

Policy Quality – We chose business insurance policies that have great benefits and we checked if when it comes down to disbursements, clients get what they pay for.

Performance – The firms we included in our list have great professional experience and a solid background in insurance sales.

Client Servicing – We also looked into how these companies treat their clients, also considering after-sales servicing.

1. Lombard Insurance Company Limited

Lombard Insurance Company Limited Homepage


Address: 4th Floor, 22 Wellington Rd, Parktown, Johannesburg, 2193, South Africa

Contact Details: +27 11 551 0600

Operating Hours: Monday – Friday 8:00 AM – 5:00 PM

Google reviews score4.3/5 reviews score4.5/5
Total reviews4.8/5
Score consistency4/5
Policy Quality4/5
Client Servicing3.5/5


  • Successful company with more than 30 years’ experience
  • Multifaceted and offers a variety of wide-coverage policies


  • Reports on having unprofessional staff
  • Reports on suspicious premium deductions from clients 

Lombard Insurance Company Limited is one of the long-standing insurance companies in Johannesburg. Established in 1990, it initially provided insurance for guarantee markets and then expanded into a bigger company offering more products.

The company has shown impressive growth over the years, serving big-time clients and forming equity partnerships.

The first feature we found noteworthy about Lombard Insurance Company Limited is the variety and flexibility of the business insurance packages that they offer. The firm’s clients also choose them for this reason.

The products they offer are mostly targeted toward construction, customs, fuel guarantees, mining rehabilitation guarantees, and credit insurance. 

The Commercial Crime and Fidelity Insurance, which is one of the most-availed products by businesses, protects the business employers against fraud, theft, and dishonesty committed by their employees, where the culprits benefited financially while the insured suffered financial loss.

Lombard Insurance Company Limited also offers Commercial, Hospitality, Personal, and Human Risks Insurance to its partners. We like that each package focuses on a different aspect, depending on what the business wants to prioritise. 

The company is commended by its clients for having versatile and efficient solutions to their business’s needs. Moreover, clients compliment the brokers they’re partnered with for being proactive and professional.

We’ve heard some complaints about some of Lombard Insurance Company Limited’s staff, though. Clients report having a bad experience with unprofessional staff who acted rudely while handling a complaint.

Lastly, we’re told there are cases where some clients notice suspicious premium deductions from their accounts. Also, when the insured reached out to the firm for explanations, the administration was reportedly unresponsive and difficult to reach.

We find this behaviour unethical and sketchy, and such feedback may be a dealbreaker for new clients.

2. Mont Blanc Financial Services (Pty) Ltd

Mont Blanc Financial Services (Pty) Ltd Homepage


Address: 28 Bradford Rd, Bedfordview, Johannesburg, 2007, South Africa

Contact Details: +27 86 180 0900

Operating Hours: Monday – Friday 8:00 AM – 5:00 PM

Google reviews score4.8/5 reviews score4.5/5
Total reviews3.8/5
Score consistency4.5/5
Policy Quality4/5
Client Servicing3.8/5


  • Reputable for being proactive and professional
  • Has high-quality brokers


  • Reports on unsatisfactory service
  • Reports on delayed disbursements

Mont Blanc Financial Services (Pty) Ltd. is a client-centred insurance company with more than 20 years of experience. They’re well-established and are recognised by the Financial Intermediaries Association of South Africa.  

They provide a broad range of insurance policies for individuals, groups, and businesses. For business insurance, Mont Blanc Financial Services (Pty) Ltd. also offers several types of policies with varying coverage.

Some of the distinguishable general business policies are Contractors All Risks, Cyber Liability, Liability Insurance, and Trade Credit Insurance. They also offer industry-specific coverage such as Aviation, Film Guarantee, Marine and Cargo, and Trucking and Transpo, which is awesome.

We found each of their policies is specific in what it insures but at the same time generous in terms of breadth. Mont Blanc Financial Services (Pty) Ltd. is often chosen by its clients for its modern and cost-efficient policies.

The company is also well known for its solution-driven teams and its dedication to continuous growth. Clients appreciate how the company always seems to put clients’ needs before anything else.

Moreover, we’ve heard praises for Mont Blanc Financial Services (Pty) Ltd.’s impressive brokers. Clients like that they’re knowledgeable but approachable. 

Although, not all their cases are perfect. A client we spoke to shared his unsatisfactory experience with Mont Blanc Financial Services (Pty) Ltd.’s service, questioning the team’s professionalism in handling conflict.

On top of that, we also learned that there are cases where the policies’ disbursements are delayed. When contacted for follow-ups, the client said that Mont Blanc Financial Services (Pty) Ltd. was unresponsive, which isn’t a good hallmark. 

3. New National Assurance Company

New National Assurance Company Homepage


Address: 33 Oxford Rd, Forest Town, Johannesburg, 2193, South Africa

Contact Details: +27 11 646 7456

Operating Hours: Monday – Friday 8:00 AM – 4:30 PM

Google reviews score3.2/5 reviews score2.3/5
Total reviews4/5
Score consistency3/5
Policy Quality4/5
Client Servicing3/5


  • Steady company growth with 50 years of experience
  • Affordable


  • Limited option on policies
  • Reports on poor servicing and unreleased payouts

We included New National Assurance Company on our list for their continuous growth over the years, which we found impressive. They were established about 50 years ago, and have been the business insurance provider of choice of several well-known companies.

One thing we found notable about the New National Assurance Company is they’re rated an “A” for claims-paying ability by the Global Credit Ratings (GCR) for 11 years straight now, which is a good trait.

Clients recommend the New National Assurance Company for flexible policies and affordable services. They offer major policies for short-term insurance risk focusing on retail, corporate, commercial, engineering and marine activity. 

New National Assurance Company’s brokers are often praised too by the firm’s clients for their expertise and how they go the extra mile. We’re also impressed that a lot of New National Assurance Company’s clients are long-term clients.

Although their products are wide-ranging, they’re focused mostly on covering accidents and theft. New National Assurance Company’s lack of options for liability coverage may be putting them at a disadvantage.

We also encountered minor complaints about the company’s poor servicing. Some clients told us that the company wasn’t helpful when it comes to executing their insurance policy.

Moreover, we were told some clients found it very difficult to process policy disbursements, which is unfair as clients pay regularly for their insurance service.

Whatever the cause of the holdup, we hope that management is already finding ways to address it. Responsiveness in this line of work is a key indicator of how reliable the provider is.

4. GIB Holdings (Pty) Ltd

GIB Holdings (Pty) Ltd Homepage


Address: 3 West St, Houghton Estate, Johannesburg, 2198, South Africa

Contact Details:  +27 11 483 1212

Operating Hours: Monday – Friday 9:00 AM – 5:00 PM

Google reviews score4.1/5 reviews score2.3/5
Total reviews3.6/5
Score consistency3.5/5
Policy Quality4/5
Client Servicing3/5


  • Friendly rates
  • Extensive range of policies for different categories


  • Lack of responsiveness
  • Reports on poor after-sales service

GIB Holdings (Pty) Ltd. is one of the longest-standing insurance companies, having been established back in 1982. Throughout the years, they’ve grown to be one of the major composite insurance brokerage houses in South Africa.

The company is known for its all-inclusive insurance policies sold at a reasonable price. Clients also commend their brokers for their expertise and prompt solutions for clients’ needs.

One thing we like about their policies is they are extensive and multifaceted They provide insurance coverage for individuals and groups, and businesses, as well as investments and funds. 

For business insurance packages, GIB Holdings (Pty) Ltd. offers both general and industry-specific policies. For the latter, they have coverage for businesses involved in aviation, film and entertainment, marine, mining, and renewable energy insurance.

We found that the more general business insurance policies they provide such as Corporate Insurance, Credit Insurance, and Risk Solutions are all-inclusive. 

On top of that, the firm also offers a wide range of products and services included in each package such as audits, training, and liability covers.

While we don’t have complaints about the quality of their products, we think their customer service can be improved. There are complaints about how customer service representatives treat clients rudely, which is disappointing.

Moreover, while brokers are great at selling the company’s products, they’re reportedly weak in the after-sales aspect, which includes assisting clients in processing payouts. We’re told fund releasing takes really long and more often than not, the firm is difficult to reach out to.

5. IUM

IUM Homepage


Address: 2 Nicol Rd, Bedfordview, Johannesburg, 2007, South Africa

Contact Details: +27 86 194 9444

Operating Hours: Monday – Thursday 8:00 AM – 4:30 PM, Friday 8:00 AM – 4:00 PM

Google reviews score4.5/5
Facebook reviews score3.8/5
Total reviews5/5
Score consistency4/5
Policy Quality4/5
Client Servicing3.5/5


  • Impressive company growth and performance
  • Reputable for knowledgable staff


  • Poor customer service
  • Reports on very slow processing of claims
  • Relatively younger company

IUM is one of the most- and highest-rated business insurance company serving in and around Johannesburg. Although a younger firm compared to its competition, IUM was able to expand its business from having just 5 employees in 2004 to more than 200 workers this year.

What’s more impressive is that IUM’s annual GWP now exceeds R 1 billion. Their team is currently composed of business, finance, and legal professionals who are often complimented for their expertise.

IUM’s insurance products are impressive too, in terms of quality and breadth of coverage. Their policies aim to protect insured businesses from loss or damaged properties, injuries to employees, and business interruptions.

They also have institution-targeted insurance packages for agricultural, marine, and transport businesses. IUM’s most sought-after business insurance policy is the commercial product, which generally covers commercial and industrial sectors.

Their clients appreciate how the policies they offer are well-researched. Also, one of IUM’s top features is its versatility, having insurance solutions for all business needs. 

If IUM has a weak point, it’s their client relations. There are a handful of grievances about how the firm neglects its clients’ complaints.

The clients we’ve spoken to shared that their emails and phone calls are almost never answered, which is a red flag. Moreover, there are cases where representatives are reportedly rude and unprofessional toward them..

Lastly, we’re told some clients also have problems processing their policy disbursement claims. Some complain that it takes months, and IUM doesn’t often update on the process’ status.

6. STP Insurance Brokers


Address: 4th Floor Grove Exchange, 9 Grove Ave, Claremont 7708

Contact Details: 021 671 7075 | [email protected]

Operating Hours: Monday to Friday: 8:30 AM to 5:00 PM

Google reviews score4.5/5
Facebook reviews score5/5
Total reviews4.8/5
Score consistency4.5/5
Policy Quality4/5
Client Servicing4.5/5


  • Personal and business insurance needs
  • Offers niche insurance solutions as well
  • Excellent customer service


  • Closed on weekends

STP Insurance Brokers knows how complicated insurance can be, so their team of professionals can assist with any insurance needs—whether personal or business.

What we like about their company is they also offer niche insurance solutions like civil engineering (cranes), trucking, radiology, hospitality and cyber liability insurance.

We like that they also have a process of how everything goes about. They have a plan from your first connection with them and when you’re staying with them.

You’re sure to be updated and guided with STP and their experience that dates back to 1987.

We’ve surveyed their clients and they told us that they weren’t disappointed with their experience, even considering them the “best insurance brokers”.

The thing they always highlight is the excellent service the team delivers.

Overall, we highly recommend!

7. Africover Insurance Brokers


Address: 19 Consalves Rd, Eastleigh, Edenvale, 1609, South Africa

Contact Details: +27 11 043 2509 / 064 532 8781 / [email protected]

Operating Hours: Monday – Friday 8:00 AM – 5:00 PM; Saturday 9:00 AM – 1:00 PM

Google reviews score5/5 reviews scoreN/A
Total reviews4/5
Score consistency4/5
Policy Quality5/5
Client Servicing5/5


  • Well-connected to other insurance and finance establishments
  • Comprehensive management process
  • Flexible and quality solutions


  • Rates of their services aren’t readily available

Africover Insurance Brokers is a company that aids clients in a wide range of insurance claims and other interrelated services so that they can get the best and most suited option for their situation.

Clients who have worked with them in the past have rated their services to be professionally handled and smoothly executed.

Able to help clients have access to both local and international insurance companies, they are able to craft options that are tailor-made for the specific needs of the client.

Note though that clients may need to inquire with them or request a preliminary quote beforehand.

Nonetheless, with their courteous and experienced team of professionals, highly customizable services, and innovative approaches to the field, we recommend them to clients looking for bespoke insurance services.

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