Our History
We are very proud to inform you that STP’s roots can be traced way back to 1987, and through a progressive journey, the then Sky Insurance Brokers, merged with Market Financial Services in 1994 and became Sky Market. We then opened our doors as SKY TIV in 2006 by merging two well-known brokerages, namely Sky Market Financial Services and TIV Insurance.
2007
A year later, we proudly became a Hollard Select Broker, where Hollard bought a 30% equity share in SKY TIV.
2010
In 2010, following very successfully and productive years, we approached Hollard to assist us in purchasing the local brokerage Promark Insurance Brokers, and today are still going strong under the name STP Insurance Brokers.
2016
A few years later, in 2016, we bought Riverstone Insurance Brokers and at the same time moved to our new offices that year. December 2017 saw us buying out Hollard of their interest in STP, due to a change in regulations.
2018
In July 2018, Fulcrum Capital Partners acquired a stake holding in STP. Due to changing regulations in our sector, Fulcrum needed to exit their investment. In April 2019 Medu Capital acquired the Fulcrum shareholding, providing us with excellent and valuable corporate support and expertise.
2019
In April 2019 Medu Capital acquired the Fulcrum shareholding, providing us with excellent and valuable corporate support and expertise.
2021
In 2021 we concluded the acquisition of a stake in leading Johannesburg based brokerage called Kapara Insurance Brokers. This increased the STP footprint nationally. The transaction also saw STP MD, Stephen Hanssen, assuming the position of MD in Kapara. At the same time, STP decided to align themselves with the Jacana Group – an initiative lead by Medu Capital and their financial services subsidiaries. Part of this alignment was to make use of Jacana Administration Services. Jacana Admin is an independent administration hub providing best of breed insurance products for distribution through the brokerages. It also provides other operational resources and support services, including IT, Financial Management, Legal and Compliance and HR/Payroll. It is effectively our execution engine vital to the growth of our brokerage network where the differentiator will be tech driven. On the 1 January 2023 STP acquired a substantial stake in a leading Cape Town brokerage, Intasure Insurance Brokers. This transaction makes STP Group one of the largest independent broking firm in the Western Cape with almost 120 employees in the region.