Monarch Insurance

Monarch offers a range of short-term insurance products to the group’s customers purchasing goods on credit.

The basic insurance package provides cover for the settlement of customers’ outstanding debt in the event of death or permanent disability.
Other insurance products cover the replacement of goods as a result of any form of accidental loss, such as fire, theft or natural disaster.
A retrenchment cover benefit is also available.

Similar products are offered to the group’s customers in neighbouring states through contracted third-party insurance partners.

Customers purchasing insurance products through Monarch qualify for free membership of the Lewis Club.

Monarch is registered with the Financial Services Board and operates under a restricted short-term insurance licence. The investment of the insurance portfolio is outsourced to Sanlam Investment Management (SIM), with the investment and asset allocation strategies being determined in consultation with the boards of Lewis and Monarch. Funds may only be invested in conservative asset classes and within prescribed regulatory limits.