New National Assurance

Insurance is there to protect you during your time of need. To get you back on your feet after the unexpected happens. This is where we come in.

We provide over 20 classes of insurance protection to individuals and businesses operating in the country and in the wider SADC region.

Our distribution model is centred on brokers and underwriting intermediaries, and over a 45 year period we’ve consistently delivered superior service through our wide range of cover provided, our underwriters’ expertise, and in particular our flexibility and strong client-centric ethos. This is how we differentiate ourselves.

Under this diversified portfolio of insurance, the scope of customer we cover is also wide-ranging, from individuals to sole traders, from construction contractors to goods in transit, and from corporates to wildlife specialists.

NNAC boasts a countrywide footprint, but our beginnings were more modest.

The roots of our company date back as early as 1930 when the New India Assurance Company, one of the subcontinent’s largest insurers, established a branch in Natal. Later, during the apartheid era, a group of forward-thinking black businessmen took over the ownership and running of the company, which was formally incorporated in 1971 as the New India Assurance Company of South Africa.

During the eventual transition to democracy which began to take shape from 1990 onwards, the shareholders decided to change the name to New National Assurance Company (NNAC), to reflect the changing political realities sweeping through the land and which carried with it latent economic opportunities for people of disadvantaged backgrounds.

The company has thus evolved from a regional player into a national one, capable of underwriting sizeable risks in excess of ZAR 1 bn before the need to access local and international facultative markets.

Our Directors are drawn from diverse backgrounds, chosen not only for their wide range of corporate experience but crucially for their shared passion for the company.

In line with our corporate value system of mutual respect, rigour and loyalty, some Directors have had a long-serving association with the company although this has been balanced with the introduction of several new members to the Board, to ensure that it remains dynamic and independent.

As of 2020, the Board comprised of 4 executive and 6 non-executive members, who all collectively determine the major policies and overall strategy of NNAC.

NNAC is chaired by Mahomed (MS) Paruk, with the Managing Director being Kalim Rajab. The Board and sub-Committees meet formally a minimum of once every quarter.

Kalim Rajab

Managing Director

B.Bus Sci. (UCT), MBA (Oxon.)
Director since: 2008

Mahomed (MS) Paruk

Non-Executive Chairman

CA (SA)
Director since:2018

Mahmoud Rajab

Executive Director

B.Comm. LL.B (SA)
Director since: 1985

Gony Pillay

Commercial Director

B.Compt., B.Comm (Hons)
Director since: 2005

Suresh Naidoo

Non-Executive Director and Chairperson of the Audit and Risk Committee

CA(SA)
Director since: 2016

Nandi Mandela

Non-Executive Director and Chairperson of Remuneration Committee

B Soc Sc (UCT) AIM (UCT)
Director since: 2014

Steven Budlender

Non-Executive Director

BA (Wits) LLB (Wits) LLM (NYU)
Director since: 2018

Bongani Mthembu

Non-Executive Director and Chairperson of Social and Ethics Committee

MA Music (Juilliard)
Director since: 2004

Vedanth Ori

Financial Director

B.Acc (Natal) LLB (Ukzn), AA Scholarship (Munich Re)
Director since: 2020

David Reeves

Non-Executive Director

Director since: 1993

We see it as a great blend of youth and wisdom, of energy and prudence.
Together, the team has a common goal- to see NNAC expanding sustainably,
in a way where we forge ever deeper partnerships.

Kalim Rajab

Managing Director

B.Bus Sci. (UCT), MBA (Oxon.)
Director since: 2008

Vedanth Ori

Financial Director

B.Acc (Natal) LLB (Ukzn), AA Scholarship (Munich Re)
Director since: 2020

Gony Pillay

Commercial Director

B.Compt., B.Comm (Hons)
Director since: 2005

For over 45 years, we’ve been protecting the things you’ve worked for.
The things that make you proud.

As the largest empowered short-term insurer
in South Africa
we understand, that and pride what’s important to you.

Our Coverage

Our Roots

Our Board of Directors
are much like an African
Council of Elders; they are
there to advise, to probe, to
offer guidance and to steer.

Kalim Rajab: Managing Director

Mahomed (MS) Paruk: Non-Executive Chairman

Mahmoud Rajab: Executive Director

Gony Pillay: Commercial Director

Suresh Naidoo: Non-Executive Director and Chairperson of the Audit and Risk Committee

Nandi Mandela: Non-Executive Director and Chairperson of Remuneration Committee

Steven Budlender: Non-Executive Director

Bongani Mthembu: Non-Executive Director and Chairperson of Social and Ethics Committee

Vedanth Ori: Financial Director

David Reeves: Non-Executive Director

Our Senior Management team is responsible
for the efficient day-to-day running of our
operations, and consists of executives from
our Durban and Johannesburg offices.

For over 45 years, we’ve been protecting the things you’ve worked for. The things that make you proud. As the largest empowered short-term insurer in South Africa we understand, that and pride what’s important to you.