Question

Evaluate the viability and relevance of insurance to the Absa

Answer 1

ABSA Group Limited (Absa) is the holding company of a leading financial services group in South Africa. As at 31 March 2000, the Group had total assets of R177 billion, total liabilities of R166 billion and operated nation-wide through an extensive distribution network with 34313 employees. Through its subsidiaries, the Group engages in a broad range of financial services, including retail and wholesale banking, insurance underwriting and brokering and investment services. The Group's business is conducted mainly within South Africa, although it also has operations in Africa and overseas primarily to meet the needs of its South African clients.