Black Economic Empowerment

"As BEE pioneers in the insurance industry we welcome transformation, but our first priority remains performance and profitability" - David Reeves, Deputy Chairman

Long before the term BEE entered the popular vocabulary, New National was already a black empowered company. In fact, since its foundation in 1970, New National has been wholly owned by black South Africans.

With the adoption of the Financial Services Charter on Black Economic Empowerment in 2004, insurance industry players are required to achieve BEE goals in all areas, including ownership, procurement and skills development. New National regards the achievement of these goals as essential to economic development and to the normalisation of historical imbalances.

However, as South Africa’s first BEE short-term insurance company, New National’s record predates the Charter. We will continue our proud record of complying with BEE requirements and focus on this critical issue in all areas of our business without sacrificing profitability or performance.

New National is proud to have been independently rated as a Level Three Contributor with a 110% BEE recognition to broad based Black Economic Empowerment.

To download our BEE Certificate, click here.