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Categories: Insurance Reviews

Liberty Holdings Limited review 2021

Liberty Holdings Limited
Type Public
Traded As LBH
Industry Insurance, Asset management
Address 1 Ameshoff Street,
Braamfontein,
Johannesburg
2001,
South Africa
Phone 227 11 408 3911
Founded 1957
Revenue R67.7 billion
Total assets R461.6 billiom
Website www.libertyholdings.co.za

Liberty Holdings is a South African financial services and property holdings company. The company was founded by the South African – British businessman Sir Donald Gordon in 1957.

Sir Donald Gordon started Liberty Holdings in 1957, then registered as liberty life association of Africa to give people an opportunity to grow their wealth. The company offer services in asset management, investment, insurance and health insurance.

Today Liberty has a presence in 18 African countries with over 60 years of expert services in investment, asset management and other spheres of financial services.

The company now serve over 3.2 million people across Africa. Today revenue is in access of R67,7 billion with total assets over R461 billion. This makes liberty holdings one of the biggest asset management company in Africa.

A brief history of Liberty Holdings Limited

Seeing his father working hard all his life with little financial rewards to show for it. Sir Donald Gordon didn’t understand why people should work hard all their life and have little financial rewards to show for all their years of hard work.

Instead, he saw a need to give people an opportunity to grow their income and wealth. This was motivated by his father’s struggles and giving people a platform to leave their families a legacy that would last.

As a 26-year-old Sir Donald Gordon worked on making his dream come true. That is, creating a life insurance company.

\ Sir Gordon believed in the liberty which has a meaning that is derived from freedom and opportunity. Therefore, the name liberty stuck with the young entrepreneur as he aimed at creating financial freedom for his clients.

The Company Liberty Limited Holdings

In 1958 Liberty registered as a company. The company soon registered its first client by selling its first life policy. Soon after Liberty Life insurance introduced the first retirement annuity products, which became the first in South Africa.

Liberty life became the first assurance company to be listed in the JSE in 1962. A humble start with a share price of R2.70. Considering the share price anyone who invested at that time and held their share would have earned fortunes, as 1 Liberty Holding share is worth more than R7000 today.

Total company assets were worth R10 million by 1967. Liberty Holdings was then formed in 1968 consolidating SA interest in Guardian Royal Exchange by acquiring 75% of Liberty life.

Liberty then made investments and acquisitions along the way. Making partnerships with Standard Bank and FNB. The company also made its listing on the London stock exchange. Liberty sold 10% of its shares to black people to allow black participation in the company.

Today Liberty is BBBEE compliant. The company has a presence in 13 African countries and looking to expand even further. With over 3.2 million clients today.

Liberty Services and Products

Individual services

Individual protection or insurance services

Liberty road accident protection plan covers for medical and related expenses if you get injured on South African road. Either as a passenger, driver or pedestrian you are covered should you get injured.

Liberty protector offers a lifestyle benefit for critical illness and traumatic experiences. You even get covered for the unknown and rare illnesses. You get a lump sum payment to cover the costs so that you get better.

Funeral benefits cover for funeral costs and other costs incurred as part of the funeral expenses. The cover is to ease the financial burden during death. You can also get a disability cover that covers for injury, permanent defects and inability to perform work duties.

Liberty gives employees an opportunity to protect their income through income protection insurance. Income protection secure employees at a time of income loss by getting premiums for a specific period.

You can get medical insurance from Liberty that covers your medical expenses.

Individual Investment options

You can invest for retirement through Lifestyle Retirement Annuity Fund and receive annuities after retirement. This is to safeguard retirees from loss of income after retirement by ensuring that they earn constant income even after retirement and not to rely only on a social grant.

Lump-sum solution help with reaching your financial goals. You can invest a lump sum and receive a certain percentage on annual interest. Liberty lump sum investments start from R50,000. There are many lumpsum investment plans to choose from.

You can invest to generate income such as life annuity, flexible annuity, living annuity and guaranteed annuity. These annuity options differ for instance a life annuity provides a guaranteed income for life while living annuity limits withdrawals to 2.5% – 17.5%.

Liberty has an option for regular investment whereby you can invest to reach a target. A target is anything specific like saving for education, building a house or saving for a vacation. You earn interest for your investment in this investment solution.

Family services

Family protection and insurance services

Liberty Road Accident Protection Plan gives a cover for medical and related expenses if injured in an accident. Accidents covered are those that happen in South Africa as a pedestrian, driver or passenger. You can cover members of your family as well with the same plan.

Members of your family can be covered for critical illness, disability, funeral benefits and medical health. All these covers are for incidents within the South African borders. However, you can get covered for an accident outside South Africa with cover extending to 26 African countries.

Family investments

You can invest for your family to be taken care of when you die by investing in a lump sum or retirement annuity. These can help your family with regular income that will help when you are no longer available to do so.

Business services

Business protection and insurance

Liberty Corporate’s group annuity is best suited for retirement. Companies can get annuities for their executive team and other employees. Premiums are attractive as they are lower than personal annuity premiums.

Companies can get critical illness and disability cover through Liberty for their employees. Also, employees can be added for a medical cover that will make sure they are always in good health and shape.

Business investing solutions

Corporates can invest in the future of their employees by helping with retirement annuities. This is a morale booster for employees as they know that they will be taken care of beyond employment.

Liberty offers investment services to companies to help invest in global bonds, equities, hedge funds and money marketing instruments. These services are monitored by Liberty corporate global.

Liberty Holdings Limited board members and executives

Executives Board members
David Munro
CEO
John Maree
Yuresh Maharaj
CFO
Angus Band
Thabang Ramogase
Chief Marketing Officer
James Sutcliffe
Benjamin Marais
Chief Information Officer
Sibusiso Sibisi
John Maxwell
CEO : Emerging Consumer Markets
Monhla Hlahla
Thembinkosi Msibi
CEO : Stanlib
Thembisa Dingaan
Phillip Harrison
CEO : Acturial and Risk
Simphiwe Tshabalala
Sharon Steyn Nick Critos
David Munro
Anthony Cunningham
Nooraya Khan
Yunus Suleman
Carol Cele
Yuresh Maharaj
Howard Walker
Simon Rildey

Conclusion

Liberty life has managed to set its footprint in the financial services sector since its existence. It has steadily grown to become a financial powerhouse in South Africa by setting trends and creating norms along other financial services providers such as Sanlam.

Sir Donald’s dream of giving people financial freedom is slowly becoming a reality by helping one client at a time. It is no doubt that the company is achieving its mission day by day.

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