The insurance division offers short-term and life
products to the lower income segment of the market. Products underwritten
by this division include legal insurance, funeral cover, term life,
income protection cover, dread disease cover and hospitalisation cover. The group is the market leader for legal insurance cover in Namibia.
BANKING & FINANCE
Trustco Bank Namibia Ltd, one of only eight licensed commercial banks in Namibia, focuses on retail banking via a branch network in Namibia.
The bank blends mortgage, SME, student and group lending with
deposit-taking to obtain an optimal structure where profits
and social investment are aligned.
The investment portfolio, historically created by excess returns in
the insurance operations, has given rise to a diversified portfolio of
active and passive investments, notably into property development
and education along with air charter and media services.
As part of the group’s drive to grow the business, the company identified the resources sector as a potential source of value i.e. translating natural resources into wealth and tangible sustainable economic development.
Shared services provide administrative and support services to the operational segments.