Introduction

Rogers Trust Company (Pty) Ltd was established during 1997 with the object of acquiring and consolidating certain existing home service assurers operating in the market at the time. Rogers Trust also identified the funeral and undertaking market as an important ancillary industry for further development. Consequent upon the various acquisitions, this initial objective was achieved and the various businesses were rationalized and a consolidated new business drive then commenced.

Whilst further acquisitions in the assurance and funeral undertaking industries were being considered, the combined businesses continued to focus on organic growth. This was achieved by providing individual and group assurance policies and funeral undertaking services to the existing policyholder bases as well as to new policyholders through the established distribution channels and new channels. The businesses then had representation in most major centres which formed the foundation for further expansion in all areas of operation.

Acquisitions

Since commencement of business, Rogers Trust implemented a number of acquisitions, starting with –

• Rogers Insurance Company (Pty) Ltd
  
  With effect 1 May 1997, Rogers Trust acquired the entire issued share capital of Rogers Insurance Company (Pty) Ltd, a registered home service assurer operating in Johannesburg and Pretoria since 1952.


• Cape of Good Hope Assurance Limited and Bourne Brothers Funeral Insurers (Pty) Ltd.
  
  With effect 10 September 1997, Rogers Insurance acquired the entire insurance and undertaking businesses of Cape of Good Hope and Bourne Brothers Funeral Insurers, which were previously registered as home service assurers. The business of Cape of Good Hope and Bourne Brothers Funeral Insurers were placed under provisional curatorship upon the application of the Financial Services Board on 16 September 1996. Consequent on a rescue offer for the businesses by Rogers Trust, the provisional curatorship orders were discharged and the businesses of Cape of Good Hope and Bourne Brothers Funeral Insurers were placed under provisional winding up on 12 August 1997. These orders were made final on 9 September 1997. All conditions relating to these acquisitions were fulfilled with the result that the businesses then fell under the control of Rogers Insurance Company.
  
  Cape of Good Hope and Bourne Brothers Funeral Insurers operated primarily in the Western Cape with branch offices in other areas providing home service policies as well as funeral undertaking services. The businesses had an established policyholder base and distribution network.


• Goodall and Company Undertakers (Pty) Ltd and Goodall and Company Funeral Assurance Society (Pty) Ltd.
  
  With effect from 1 July 1997 Rogers Trust acquired the entire issued share capital of Goodall and Company Undertakers, which included its wholly owned subsidiary Goodall and Company Funeral Assurance, a registered home service assurer.
  
  Both the Undertaking and Assurance companies operated primarily in the Western Cape and had quite a significant policyholder base. The markets in which they operated were substantially similar to those of Cape of Good Hope and Bourne Brothers Funeral Insurers and significant rationalization benefits were anticipated.


• Fitz Williams Insurance Brokers (Pty) Ltd t/a Capeguard
  
  Rogers Insurance Company acquired the entire issued share capital of Capeguard. The principal business of Capeguard was that of a broker of funeral insurance and related products. It operated primarily in the Western Cape in the same areas already being serviced by Cape of Good Hope, Bourne Brothers Funeral Insurers and Goodall and Company Funeral Assurance.
  
  Capeguard had an established agency collection and distribution force that was incorporated into the operations of the businesses referred to above. The rationalization benefits in the short term were quite significant.

Change of Name

Retaining the already well established brand names, Rogers Insurance Company changed its name to Goodall and Bourne Assurance (Pty) Ltd.

G&B Acquired

Goodall & Bourne was acquired by CICL Investment Holdings (Pty) Ltd in 2006.