Glenrand Improves its BEE Rating

April 29 - Empowerdex, a leading South African economic empowerment rating agency has awarded a AA on its B-BEE scorecard to Glenrand MIB Limited.

Glenrand, which provides insurance broking and risk consulting services to the industry, is now considered a Level 3 contributor. Last year's A rating kept it at as a Level 4 contributor.

The company received its A credentials for Black empowerment in 2006, as a result of a Black ownership transaction deal that took place the previous year.

The CEO of Glenrand, Andrew Chislett, said after the AA upgrade: "We are delighted with the outcome of this revised rating. The improvement achieved over the past year is a reflection of Glenrand MIB's commitment to transformation and social responsibility. Although this is one of the highest ratings in the industry, we are aiming to reach beyond mere compliance and we will continue to work towards further transformation of our company."

Glenrand MIB is one of the only independent South African-owned corporate insurance broker among the larger corporations in the industry. However, the company manages to build a defense against foreign competitors through its exclusive arrangement with one of the world's largest insurance and risk advisers, Jardine Lloyd Thompson.

Glenrand continues in its focus to develop the company into an industry-leading organization, with special attention on its Black empowered policy and social message, such as investment in skills development, coaching, mentoring, leadership seminars and other personnel investment.

Glenrand MIB provides services to thousands of companies in South Africa, twenty three of them among the top one hundred in the country. Its local services are complemented by offices in Botswana, Namibia and other Southern African countries.