Institutional-Grade Governance

Risk & Governance

LeaseSurance operates inside a regulated, capitalised insurance structure. This page sets out who carries the risk, how the cell captive works, and what backs every policy we write.

Licensed Financial Services Provider

The LeaseSurance Agent (Pty) Ltd is an authorised financial services provider in terms of the Financial Advisory and Intermediary Services Act (FAIS). That licence carries conduct standards, reporting obligations and ongoing oversight. All advice and intermediary services are rendered under it.

The LeaseSurance Agent (Pty) Ltd: FSP 55633

Cell Captive Structure

Cover is provided through a dedicated, ring-fenced cell within Guardrisk's cell captive structure. Capital and reserves are held inside that cell. Your portfolio's risk is not pooled or cross-subsidised with other programmes, so the underwriting result stays with your portfolio.

Insurer & Cell Owner

Underwritten by Guardrisk Insurance Company Limited, an authorised Financial Services Provider and a licensed non-life insurer regulated by the Prudential Authority. LeaseSurance owns the cell that underwrites your policies, so we share in the underwriting result. Our incentive is to price and manage the risk well.

Guardrisk Insurance Company Limited: FSP 75

Portfolio-Specific Underwriting

Each portfolio is underwritten on its own claims experience, drawn from 24 to 36 months of actual ledger data. Premium rates reflect your portfolio's performance, not a market average. Renewal pricing applies to new leases only. We do not reject claims; we price them in upfront.

Structure

How the Structure Works

Four parties, each with a defined role. Premium flows one way and claims come back the other, with regulated capital and reinsurance behind both.

Premium

Tenant
Pays the monthly fee
Collected with rent, through the existing property management system.
Landlord
The insured party
Holds the cover. Claims are paid to the landlord, not the tenant.
LeaseSurance
Administrator and cell owner
Distributes the product, assesses claims, and owns the cell. FSP 55633.
Guardrisk cell
Where the risk sits
A ring-fenced cell inside a licensed insurer. Premiums in, claims out.
Ring-fenced

Claims paid back

Guardrisk Insurance Company LimitedLicensed non-life insurer, FSP 75. Carries the licence the cell sits inside.

ReinsuranceSits above a defined retention, for catastrophe and concentration losses.

Data Governance

POPIA Compliance & Data Protection

Institutional landlords share sensitive tenant data with us. Here is how it is handled.

POPIA Compliant

All tenant data is processed and stored in accordance with the Protection of Personal Information Act (POPIA). Our compliance framework covers collection, processing, storage and disposal.

Data Sharing Protocols

Tenant data shared by landlords and property managers is governed by formal data processing agreements. Each agreement states what is collected, why it is needed, how it is processed and who has access. Data is never shared with third parties outside the insurance structure.

Security & Access Control

Only authorised personnel can reach tenant data, under role-based access control. Data is encrypted in transit and at rest. Audit trails record every access and processing activity, and we review security regularly.

Our Underwriting Approach

LeaseSurance does not apply generic market pricing. Every portfolio is assessed and priced on its own performance data rather than on industry averages.

24 to 36 months of actual ledger data forms the basis of every risk assessment
Premium rates are calculated per portfolio, from your claims experience and tenant profile
Renewal pricing applies to new leases only: existing tenants are not repriced mid-lease
We do not reject claims; we price correctly upfront so that the product performs sustainably
Underwriting results are ring-fenced inside your dedicated cell. Good performance benefits your portfolio, not someone else's

Pricing basis · Your portfolioUnderwriting

Basis: 24 to 36 months of your ledger data
Rate set: Per portfolio, from your claims experience
Mid-lease repricing: None. Renewal pricing applies to new leases only
Claim rejections: We do not reject claims; we price them in upfront
Underwriting result: Ring-fenced inside your cell

The record a governance review asks for: what the rate is built from, what it is set against, and what it will not do later. Every line is the stated policy position, not a sample figure.

Reinsurance Protection

Behind every LeaseSurance cell sits a reinsurance layer. It covers catastrophic and concentration losses above the cell's defined retention.

Reinsurance sits above the cell captive's own capital and reserves
It covers catastrophe events: large-scale losses that exceed normal claims patterns
It covers concentration risk: exposure to a single large portfolio or geographic area
The cell stays capitalised and solvent in adverse scenarios
The structure is protected beyond its first layer of capital

Capital structure · One cellLayer order

Layer 3ReinsuranceAttaches above the retention, so the cell is not the last line.

Defined retention. The cell carries losses up to it. No amount is published.

Layer 2Cell reservesApproved claims are settled from here, not from a general fund.

Layer 1Cell capitalRing-fenced to your portfolio. Not pooled with other programmes.

The seating of the three layers behind a policy. Layer 1 is the cell's own capital, layer 2 the cell's reserves, layer 3 reinsurance, which attaches above a defined retention. No retention amount is published, so none is drawn.