UNLEASHING POTENTIAL,
MITIGATING RISKS
At LIGHTHOUSE REINSURANCE BROKERS, we strive to serve as a trusted partner for insurers around the world. With a wealth of expertise and experience within our team, we're committed to providing the highest level of reinsurance brokerage services across a broad range of markets and geographies.
Vision
To be the leading reinsurance broker, providing comprehensive solutions that go beyond risk transfer, and deliver value-add, innovation, and thought leadership to our partners.
VALUES
Integrity: We believe in conducting ourselves in an ethical, honest and transparent manner.
Customer-centricity: We put our partners first, ensuring their needs are met, expectations exceeded, and problems resolved with speed and agility.
Innovation: We constantly strive to push the boundaries and find new ways of enhancing our services, leveraging technology and providing value-add to our partners.
Excellence: We seek to deliver exceptional quality, standards, and results at all times, striving for continuous improvement and raising the bar.
Collaboration: We believe in working together, leveraging collective knowledge, insights, and perspectives to deliver the best possible outcomes for our partners.
Mission
To deliver exceptional reinsurance brokerage services, leveraging deep industry knowledge and expertise, technology, and a customer-centric approach, aimed at empowering our partners to manage risk and enhance their business profitability, sustainability and resilience.
Amazing Client Experience
LIGHTHOUSE REINSURANCE BROKERS has developed and documented stringent service standards that guide our team in providing consistent, high-quality servicing at all times.
Capabilities
As a leading broker in the East African Market, we have deep capabilities and trading relationships that will be used to differentiate our clients in the market.
Agility & Innovation
Innovation & agility is in our DNA – simply put, the must to innovate to compete with competitors who have inherent advantages. This commitment to innovation has differentiated us vs. our competition.
Creative, Bespoke Solutions
At LIGHTHOUSE REINSURANCE BROKERS, we avoid “off-the-shelf” solutions and consistently provide a fresh perspective to meet our partners' evolving needs.
Dedicated Expertise
Our account teams span across all capabilities required to meet your needs and deliver an Amazing Client Experience.
Senior Level Involvement
Our top-level executives collaborate closely with our account teams on a daily basis and will have personal involvement in overseeing your account.
Collaborative Approach
At LIGHTHOUSE REINSURANCE BROKERS, our single P&L sets us apart from competitors who adopt a siloed approach. Our streamlined structure allows us to seamlessly deliver the best of our global services to partners without internal organizational barriers.
Facultative Services
Aviation & Aerospace
Aviation and aerospace risk is a complex area of insurance that covers a broad range of hazards associated with air travel, including damage to aircraft and injuries to passengers and crew. The covered insurance classes include aviation liability insurance, hull insurance, and aviation property insurance. Due to the unique and high-risk nature of these industries, specialized insurance policies are essential to help protect against potential financial loss.
(Hull & Liability, Ground Risks & Hull)
Engineering
Engineering risk is an important category of risk in insurance. It encompasses loss or damage to property, plant, and equipment due to natural disasters or human error. Covered insurance classes for engineering risk include construction, machinery breakdown, and engineering and industrial insurance. The right coverage can provide financial protection against unforeseen events.
Property
Property insurance covers various categories of properties such as residential, commercial, industrial, and agricultural. Each class of property poses unique risks such as theft, fire, water damage, and natural disasters. Insurers provide tailored policies for each property class, to mitigate their risk exposures. Understanding the unique risks associated with each class of property is essential in purchasing the right insurance coverage.
(Fire & Traditional Allied Perils with Liability, Loss or Profit, Loss of Hire & Machinery Breakdown Extensions)
Political Risk
Property political risk insurance covers damages and losses caused by political unrest or government intervention, such as expropriation or currency controls. Covered insurance classes include agricultural and commercial property, as well as infrastructure and energy projects. It is particularly critical for businesses operating in politically unstable regions.
(War / Sabotage / Terrorism / Business Interruption)
Marine Hull & Cargo
Marine hull and cargo risks are a significant concern for those in the shipping and logistics industry. Covered insurance classes in this regard include marine hull insurance, which covers the physical structure of the vessel, and cargo insurance, which protects the cargo being transported. Insuring against these risks is essential for minimizing financial losses associated with damage or loss of goods during transit.
Surety & Credit
Financial lines and bonds are crucial for companies to secure their financial position. Bonds are a form of borrowing money by issuing an IOU to an investor in exchange for cash, while financial lines are credit facilities that provide companies with access to funds for short-term liquidity needs. Both options can be used to manage risks and ensure business growth, making them essential tools for successful financial management.
(Customized Guarantees, Bank Bonds, Maintenance Bonds, Bid Bonds, First Demand Guarantees, Governmental Guarantees & Trade Credit)
Treaty services
Proportional
Proportional Treaty Broking Services offers various options for insurance and reinsurance companies looking to share risk on a quota share or surplus basis. The broking services are tailored to fit each client's unique requirements, offering personalized solutions that meet their specific needs. These services allow insurance and reinsurance companies to spread their risk across multiple partners, reducing their exposure and ensuring that they remain financially secure in the event of a catastrophic event. With proportional treaty broking services, companies can rest assured that they are protected, even in the face of unexpected and extreme losses. These services are an essential aspect of risk management for the insurance and reinsurance industry.
Non-proportional
Non-proportional treaties are insurance and reinsurance agreements that do not involve a sharing of risk between the insurer or reinsurer and the policyholder or the insurer in the case of reinsurance. Instead, these agreements are based on a fixed payout in the event of a specific type of loss. For instance, if an insurance company is providing coverage for damages from a natural disaster, the policy may state a fixed sum for a certain level of damage. This type of treaty is more common when risk is less predictable, and insurers may not want to take on an unknown amount of risk. When used effectively, non-proportional treaties can help bolster an insurer's balance sheet and provide greater flexibility in managing risk.
Stop-loss
Stop-loss treaties are a form of reinsurance that protect insurance companies from excessive losses due to catastrophic claims. These treaties provide a predefined limit of liability for insurers, allowing them to better manage financial risks. Reinsurance companies underwriting these policies are able to earn premiums from the insurers, while taking on the risk of high-cost claims.
Customized treaties
Customized treaties for insurance and reinsurance companies have come under scrutiny as regulators seek to standardize the industry. Such treaties often favor the larger companies, leaving smaller players at a disadvantage. Regulators believe standardization will create a level playing field and increase transparency in the industry.
Territorial interest
LIGHTHOUSE REINSURANCE BROKERS has a territorial interest in Africa, Middle East, and Asia. These regions are home to multiple political and social conflicts, which can impact the insurance industry. It's important to analyze the risks and opportunities of these markets, and develop effective risk management strategies to protect both clients and businesses.
Corporate Social Responsibility
At LIGHTHOUSE REINSURANCE BROKERS, we believe that corporate social responsibility is an essential aspect of our business. We understand that our business operations have an impact on society and the environment, and we strive to create a positive impact for all stakeholders.
We are committed to promoting sustainable development, promoting social equity, and reducing environmental harm. As a result, we have implemented policies and practices that promote responsible business conduct, and we actively seek ways to integrate our social responsibility principles into our business operations.
Our commitment to social responsibility is reflected in our rigorous risk management approach. Since our core business is helping businesses manage their risk, we recognize that understanding and mitigating social and environmental risks is essential to delivering value to our clients. By identifying and managing these risks, we help our clients operate responsibly and sustainably, which is crucial for their continued success.
We also believe that supporting our local community is a crucial aspect of our corporate social responsibility. We encourage and support our employees to participate in community service and other charitable activities. Additionally, we work with local organizations to promote economic development, education, and environmental initiatives.
Our commitment to corporate social responsibility is not only rooted in ethics, but it is also good business practice. We recognize that businesses that prioritize social responsibility are more likely to be profitable in the long term, as they are better positioned to attract and retain customers and employees who care about social and environmental issues.
We are committed to upholding these principles in everything we do, and we will continue to seek ways to improve our business practices to promote social responsibility and sustainability in Tanzania.
“Word from the CEO”
Dear valued partners,
I am honored to send you this message as the CEO of our esteemed reinsurance brokerage firm in Tanzania. We have been offering quality services for a long time now, and our commitment to excellence has gone beyond what we could have imagined.
As we move through the years, we have witnessed many changes in the reinsurance industry, but one thing has remained constant, and that’s our dedication to serving you, our partners. We believe that it’s you, the partners, who have made us outstanding in our industry, and we would like to thank you for your continued trust and support.
We are undoubtedly facing unprecedented challenging times globally. However, we would like to assure all our partners that we are doing our best to keep the effects as minimal as possible. We will continue providing seamless services while adopting the recommended safety measures to protect our team and partners.
Be rest assured that our team of professionals is continuously working towards giving you quality and innovative solutions for all your reinsurance needs. We are committed to always offering you a personalized experience and unparalleled support.
Thank you for being our valued client, and we look forward to a continued fruitful relationship.
Sincerely,
Mayank Parmar
Lighthouse Reinsurance Brokers Ltd is a member of
Tanzania Insurance Brokers Association
CONTACT
Address: Renaissance Plaza, 498, Haile Selassie Road, 3rd Floor,
PO Box 12866, Dar es Salaam, United Republic of Tanzania
Email: office@lrb.co.tz
Tel: +255 748 677 688