Clientele Limited (South Africa)

Clientèle, the holding company of the Clientèle Group, is incorporated in South Africa and is listed under the Insurance sector index on the JSE. Its long-term insurance subsidiary, Clientèle Life, markets, distributes and underwrites insurance and investment products, mainly on a direct distribution basis and invests funds derived therefrom and accounts for the majority of the Group’s earnings and assets. The Group also provides personal lines legal insurance policies underwritten through Clientèle General Insurance, its short-term insurance subsidiary. Lending of unsecured personal loans, on a conservative and controlled basis, takes place through its subsidiary Clientèle Loans Direct (which is being run down to closure). A PSA was entered into from 16 February 2013, in respect of unsecured personal loans with WesBank (a division of FirstRand Bank Limited) and Direct Axis. The business is funded and conducted by WesBank as a separate business unit and is administered by Direct Axis.