Cinque expands into Guarantee and Commercial Insurance

Cinque’s business philosophy and strategic approach allows the company to differentiate from competitors and ensure value-add to existing and new clients. In line with this, we are proud to announce that Wernher Ferreira joined Cinque on 1 July 2016 to head up the Cinque Guarantee and Commercial division, which will focus on providing intermediary services for the following products:

  • Construction guarantees (bid bonds, performance-; advance payment-; materials on/off site- and retention guarantees
  • Logistics guarantees (Customs deferment-; bonded warehouse guarantees etc.)
  • Fuel guarantees
  • Utility guarantees
  • Specialist performance guarantees
  • Mining rehabilitation guarantees
  • Education guarantees
  • Engineering insurance

Wernher’s career spans more than 21 years with various local and international banks and insurers, including First National Bank, International Bank, and Coface and Lombard Insurance Company. He has extensive experience in the underwriting of credit risk, guarantee risk, structuring guarantee products and the implementation of guarantee type products.

The main rationale behind establishing such an offering is that traditionally this market has been dominated by a handful of players, but our experience has shown that various new underwriters have entered the guarantee space with innovative offerings that can hugely benefit clients.

Wernher, in his role as head of Cinque Guarantee and Commercial, has the ambition to replicate Cinque’s reputation and exponential growth in the credit insurance and credit risk management markets, within the guarantee space.

With Wernher’s experience, Cinque is ideally placed to interrogate the market to ensure that our clients get the best guarantee product at the best possible terms. Wernher will advise clients with respect to their guarantee facility terms and conditions and security and collateral requirements, as well as guarantee wordings both locally and abroad.

If you would like to have more information on Cinque Guarantee and Commercial please contact Wernher on Wernher@cinque.co.za or +27 11 550 8912.