South African alternative asset management firm Calibrate Ventures has acquired a significant minority stake in the Garrun Group, a leading insurance brokerage in South Africa.

Commenting on Calibrate Venture’s first foray into the insurance market, CEO of Calibrate Vaughan Jones says the Garrun Group and the short-term intermediary space was an obvious investment choice. “The Garrun Group’s established history and reputation in the local insurance market, coupled with its scale and high-quality management team, made it an ideal target for us,” Jones explains.

Specialising in commercial, industrial, and personal insurance, the Garrun Group was established nearly 60 years ago and is one of South Africa’s largest independent insurance brokers, with regional representation throughout the local market.
Jones continues, “The group’s track record in acquiring and integrating brokers, its strong compliance and administrative capability, combined with Calibrate’s capital base and skill set, will ideally position the partnership to bring a much-needed value proposition to the short-term intermediary market. We have identified several immediate opportunities and embarked on a rigorous programme to accelerate the Garrun Group’s growth strategy. This includes acquiring interests in intermediaries with similar profiles looking to augment or realise further value from their business.”