In 2022, Garrun Group acquired a majority share of YIB and CFP to expand its presence in the liability market. After conducting a strategic review of these two established insurance brokers, the Group decided to unify them under a single brand that aligns with the Group’s long-term vision and the ambitions of the management team of these two entities.
As a result, we are excited to announce a significant milestone in this journey with the launch of Garrun CFP (Pty) Ltd, operating as Garrun Cover for Professionals; the brand will be part of Garrun’s new specialist lines business, focusing on providing niche insurance advice, including liability and Alternative Risk Transfer (ART). This merger represents a deliberate collaboration driven by shared goals and a commitment to service excellence. By leveraging our combined strengths, we are set to enhance the quality of services provided to our valued clients.
The Garrun Group recognised YiB & CFP Brokers as key partners, with their expertise in Specialist Liabilities, including Medical Malpractice and Professional Indemnity insurance. Our shared purpose, “We exist to bring care, comfort, and clarity to an often uncertain and complex world”, underscores our intent to position Garrun Cover for Professionals as a leader in the specialist market.
We recognise that the previous names – CFP Brokers, YiB, and Garrun – may have caused some confusion. With the introduction of the unified Garrun Cover for Professionals brand, we aim to provide clarity and confidence to the market. Our research highlighted the strong brand equity associated with the CFP name, especially within the Medical Malpractice Scheme domain. Therefore, we have merged the robustness of the Garrun brand with the significance of CFP (Cover for Professionals) to create Garrun Cover for Professionals.
We are confident that Garrun’s extensive reach will further enrich the value we deliver to you. By amalgamating our resources and know-how, we are committed to fortifying partnerships with key stakeholders and enhancing our specialised policy offerings.
While our name evolves, our dedication to providing personalised policy guidance and efficient service remains steadfast. Garrun Cover for Professionals will remain your trusted, competitive, and reliable coverage provider. In today’s litigious environment, we will continue to offer tailored liability solutions that safeguard professionals against the financial risks inherent in their fields. Our solutions empower and will continue to empower these dedicated individuals to pursue their careers with assurance and peace of mind.
We thank you for your continued support throughout this transformative period. Your input is invaluable to us, and we welcome further dialogue. If you have any inquiries, please contact us via phone or email.
All the best – The YIB and CFP Team
CFP Brokers (Pty) Ltd is an Authorised Financial Services Provider. No: 42892
July 2024
CFP Brokers Announcement July 2024
