| Liberty Holdings Limited | |
|---|---|
| Type | Public |
| Traded As | LBH |
| Industry | Insurance, Asset management |
| Address | 1 Ameshoff Street, Braamfontein, Johannesburg 2001, South Africa |
| Phone | 227 11 408 3911 |
| Founded | 1957 |
| Revenue | R67.7 billion |
| Total assets | R461.6 billiom |
| Website | www.libertyholdings.co.za |
Liberty Holdings, a South African financial services and property holdings firm, was established by the South African-British entrepreneur Sir Donald Gordon in 1957. Originally known as Liberty Life Association of Africa, it was created to provide individuals with opportunities to grow their wealth. Liberty offers a range of services including asset management, investment, insurance, and health insurance.
With over 60 years of experience, Liberty has expanded its presence to 18 African countries, serving more than 3.2 million people across the continent. The company’s revenue now exceeds R67.7 billion, with total assets surpassing R461 billion, solidifying its position as one of Africa’s largest asset management companies.
A brief history of Liberty Holdings Limited
Witnessing his father’s lifelong toil without commensurate financial gains, Sir Donald Gordon questioned the fairness of a system where hard work often led to meager rewards. This observation fueled his determination to provide individuals with the means to grow their income and wealth, inspired by the desire to spare others from enduring similar financial hardships.
At just 26 years old, Sir Donald Gordon set out to turn this vision into reality by establishing a life insurance company. His belief in the principles of liberty, synonymous with freedom and opportunity, became the cornerstone of his entrepreneurial journey. The name “Liberty” resonated with him as he endeavoured to create pathways to financial independence for his clients, driven by a commitment to building lasting legacies for families.
The Company Liberty Limited Holdings
In 1958, Liberty officially registered as a company and swiftly gained its first client by selling its inaugural life policy. Not long after, Liberty Life Insurance pioneered South Africa’s first retirement annuity products, marking a significant milestone in the industry.
1962 saw Liberty Life become the first assurance company to be listed on the JSE, debuting with a modest share price of R2.70. Those who invested during this early phase and retained their shares would have witnessed remarkable growth, with a single Liberty Holdings share now valued at over R7000.
By 1967, the company’s total assets had reached R10 million. The subsequent formation of Liberty Holdings in 1968 further solidified its position, consolidating South African interests by acquiring 75% of Liberty Life.
Liberty continued to expand through strategic investments and acquisitions, forging partnerships with institutions like Standard Bank and FNB. Its reach extended globally with a listing on the London Stock Exchange. In a move towards inclusivity, Liberty allocated 10% of its shares to black investors, fostering broader participation in the company.
Today, Liberty upholds BBBEE compliance and operates in 13 African countries, with ongoing plans for further expansion. Its client base has grown to over 3.2 million, reflecting its enduring commitment to financial services across the continent.
Liberty Services and Products
Individual services
Individual protection or insurance services
Liberty road accident protection plan covers for medical and related expenses if you get injured on South African road. Either as a passenger, driver or pedestrian you are covered should you get injured.
Liberty protector offers a lifestyle benefit for critical illness and traumatic experiences. You even get covered for the unknown and rare illnesses. You get a lump sum payment to cover the costs so that you get better.
Funeral benefits cover for funeral costs and other costs incurred as part of the funeral expenses. The cover is to ease the financial burden during death. You can also get a disability cover that covers for injury, permanent defects and inability to perform work duties.
Liberty gives employees an opportunity to protect their income through income protection insurance. Income protection secure employees at a time of income loss by getting premiums for a specific period.
You can get medical insurance from Liberty that covers your medical expenses.
Individual Investment options
Investing for retirement is made easy with Liberty’s Lifestyle Retirement Annuity Fund, designed to provide annuities post-retirement. This ensures retirees maintain a steady income stream, reducing reliance on social grants and safeguarding against income loss in retirement.
For those aiming to achieve specific financial objectives, Liberty offers lump-sum solutions starting at R50,000, with annual interest percentages tailored to meet your needs. With various investment plans available, you can choose the one that aligns best with your financial goals.
Diversify your investment portfolio with income-generating options such as life annuity, flexible annuity, living annuity, and guaranteed annuity. Each option offers unique benefits; for instance, a life annuity guarantees income for life, while a living annuity allows for withdrawals within a range of 2.5% to 17.5%.
Liberty also provides a regular investment option to help you reach targeted savings objectives, whether it’s for education, homeownership, or a dream vacation. Earn interest on your investments with this flexible and goal-oriented investment solution.
Family services
Family protection and insurance services
Liberty Road Accident Protection Plan gives a cover for medical and related expenses if injured in an accident. Accidents covered are those that happen in South Africa as a pedestrian, driver or passenger. You can cover members of your family as well with the same plan.
Members of your family can be covered for critical illness, disability, funeral benefits and medical health. All these covers are for incidents within the South African borders. However, you can get covered for an accident outside South Africa with cover extending to 26 African countries.
Family investments
You can invest for your family to be taken care of when you die by investing in a lump sum or retirement annuity. These can help your family with regular income that will help when you are no longer available to do so.
Business services
Business protection and insurance
Liberty Corporate’s group annuity is best suited for retirement. Companies can get annuities for their executive team and other employees. Premiums are attractive as they are lower than personal annuity premiums.
Companies can get critical illness and disability cover through Liberty for their employees. Also, employees can be added for a medical cover that will make sure they are always in good health and shape.
Business investing solutions
Corporates can invest in the future of their employees by helping with retirement annuities. This is a morale booster for employees as they know that they will be taken care of beyond employment.
Liberty offers investment services to companies to help invest in global bonds, equities, hedge funds and money marketing instruments. These services are monitored by Liberty corporate global.
Liberty Holdings Limited Executives
| Name | Title | Tenure |
|---|---|---|
| Yuresh Maharaj | Chief Executive Officer | 3/2022-PRESENT |
| Willem Van Den Berg | Chief Financial & Value Mgmt Officer | 4/2022-PRESENT |
| Philip Harrison | Chief Risk & Actuarial Officer | 4/2019-PRESENT |
| Amelia Beattie | Chief Exec:Property | PRESENT |
| Jill Meredith Parratt | Secretary | 12/2008-PRESENT |
| Pumeza Bam | Head:People & Culture | PRESENT |
| David Jewell | Head:SA Risk & Savings | PRESENT |
| Brian Kipps | Head:Investments & Asset Mgmt | PRESENT |
| Deon De Klerk | Head:Africa Regions | PRESENT |
| Lindiwe Monyae | Head:Employee Benefits | PRESENT |
| Sunil Nagar | Head:Tech & Operations | PRESENT |
| Yvonne Perumal | Head:Legal | PRESENT |
| Thiru Pillay | Head:Compliance, Forensic & GRES | PRESENT |
| Thabang Ramogase | Head: Marketing & Communications | 3/2024-PRESENT |
| Sharon Steyn | Investor Relations | 8/2014-PRESENT |
Conclusion
Liberty life has managed to set its footprint in the financial services sector since its existence. It has steadily grown to become a financial powerhouse in South Africa by setting trends and creating norms along other financial services providers such as Sanlam.
Sir Donald’s dream of giving people financial freedom is slowly becoming a reality by helping one client at a time. It is no doubt that the company is achieving its mission day by day.
