LETSEMA BROKERAGE SOLUTIONS

Letsema established Letsema Brokerage Solutions (“LBS”) in response to a unique convergence of market dynamics that create growth and transformation opportunities in the local short term insurance market. These include:

• Legislative and regulatory changes that are making it difficult for smaller businesses to compete. 
• The emergence of strong digitized central administrative platforms
• The market is fragmented (over 6,000 brokerages) with the average business owner/manager approaching retirement age
• A historic lack of transformation in the sector

Sadly, these dynamics make it difficult for smaller businesses, often with excellent client relationships, to compete as they are disproportionately negatively affected by these drivers of change, we are seeing in the industry.

LBS’s vision is to build a leading black-owned, nationally represented intermediary group in the commercial insurance sector. One with several strong brands that is positioned and structured to address these systemic, regulatory and commercial challenges facing existing intermediary businesses. 

To date LBS has partnered with and invested in several great businesses, teams and people with collectively close to 2bn in gross written premium.

LETSEMA BROKERAGE SOLUTIONS

• The chosen approach followed by LBS was to identify and acquire 3-4 large platform brokers to operate as acquirers of small and medium brokers
• LBS has so far completed two platform broker acquisitions
• A substantial pipeline of subsidiary targets has been compiled and is being pursued