First Quarter 2024

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In February the Jurgens Group participated in our annual conference held in Muldersdrift. We thoroughly enjoyed the experience of taking a scenic helicopter flip, which was a “first” for most of us!

Message from Mark Jurgens

I trust that the beginning of 2024 has been marked by positivity for you, and that you are relishing the final weeks of summer and the picturesque start of autumn. I am pleased to relay that our team are fully dedicated to embracing new goals and initiatives for the year ahead, coupled with their ongoing reliable and efficient service.

I wish to share some significant news regarding our partners and shareholders, Anchor Capital. They have recently completed a merger with Credo, an esteemed independent boutique wealth manager headquartered in London. This amalgamation positions the combined businesses to provide investors with an unparalleled investment platform, granting access to an extensive array of securities, funds and currencies worldwide.

We are thrilled and energised to be an integral part of the Anchor Team, as this union enables us to offer an expanded range of offshore solutions coupled with exceptionally competitive pricing.

Roy Ettlinger, Chairman of Credo, says, “As the founding shareholder of Credo, I am extremely excited that this transaction will enable Credo, together with Anchor, to transition to the next phase of developing a larger, more sophisticated wealth management business, and thus enable the business to provide a wider range of solutions to all client segments. I look forward to continuing the journey with my new partners.”

An enduring hallmark of our business, as many of you are aware, is our unwavering independence. Despite our partnership with Anchor, we remain steadfastly independent in our advisory role, prioritising the needs and objectives of our clients above all else.

I look forward to seeing many of you in the coming months, and I encourage you to reach out for more information relating to this development.
Stay well and regards

‘The Riddle of Happiness in Investments and Life: Unlocking the True Wealth Within’ from Alan Botha

In the labyrinth of existence, where the paths of investment and life intersect, lies a profound riddle – the quest for happiness. It is a pursuit that often seems elusive, with many wanderers seeking it in external treasures: wealth, success, and material possessions. Yet, the true essence of happiness may not lie in the accumulation of these externalities, but rather in the journey itself, and in the alignment of one’s investments with the values that define a meaningful life.

To unravel this riddle, let us first delve into the realm of investment. Traditional investment wisdom often equates success with financial gains, measured by portfolio growth and market returns. However, such metrics only scratch the surface of true wealth. While financial prosperity undoubtedly plays a role in securing comfort and stability, it alone does not guarantee happiness. Consider a scenario where an investor amasses significant wealth through shrewd financial manoeuvres. They may achieve impressive returns, accumulate luxurious assets, and bask in the admiration of society. Yet, beneath this facade of success, there may linger a profound sense of emptiness. The relentless pursuit of wealth may have led them astray from the deeper dimensions of life – the bonds of friendship, the joys of creativity, and the fulfilment found in contributing to a greater good.

In contrast, imagine another investor whose portfolio may not boast astronomical figures, yet is meticulously crafted to reflect their values and passions. They invest in companies aligned with their ethical principles, support causes they believe in, and prioritize long-term sustainability over short-term gains. Despite facing fluctuations in the market and moments of uncertainty, this investor finds contentment in knowing that their investments reflect their authentic self.

Thus, the riddle of happiness in the realm of investment lies not in the pursuit of wealth for its own sake, but in the cultivation of a portfolio that resonates with one’s innermost values and aspirations. True wealth emerges not from the digits on a financial statement, but from the alignment of financial goals with the principles that define a meaningful life.

Now, let us extend this inquiry into the broader canvas of life itself. In the hustle and bustle of modern existence, it is easy to succumb to the pressures of societal expectations – to chase after fleeting pleasures and external validations in pursuit of happiness. Yet, like a mirage in the desert, such pursuits often leave us parched, yearning for something more substantial.

In life, happiness is not a destination to be reached but a journey to be embraced. It is found not in the accumulation of possessions but in the richness of experiences, the depth of relationships, and the pursuit of purpose. Just as in investment, where true wealth stems from aligning financial endeavours with personal values, in life, true happiness arises from living authentically, in harmony with one’s beliefs and passions.

The riddle of happiness, then, is not merely a conundrum to be solved but a paradigm shift to be embraced. It calls upon us to reevaluate our definitions of success and wealth, to look beyond the surface and delve into the depths of our being. It beckons us to invest not only in shares and bonds but in the currency of kindness, compassion, and connection.

In the tapestry of existence, the threads of investment and life are intricately woven, each influencing the other in profound ways. By unravelling the riddle of happiness, we unlock the true wealth within – not just in our portfolios but in the very fabric of our lives.

Quote of the Day

"Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves."

Short Term News Update from Greg Brits

I cannot believe that the first quarter of 2024 has passed and that soon, winter will be upon us. It’s not my favourite time of the year as most South African’s love sunshine, however there’s nothing a heater cannot solve when the chilly nights arrive.

In this newsletter I would like to discuss topics that Insurers almost always bring to our attention during their roadshows, online training sessions, or simply round table discussions when challenging claims arise. I’ve mentioned before that our industry, and in particular South Africa, faces huge pressure from the Reinsurance markets, based on catastrophic losses that seem to have hit us like a Tsunami over the last 8 years.

Below are some valuable points which will help you manage your insurance portfolio effectively.

• Thatch risks are becoming a declined risk with many Insurers, making it difficult to obtain suitable terms as well as cost effective premiums. The cover has become very onerous for a client in a sense of maintenance and upkeep to ensure that you meet the criteria as set out in the policy wording and schedule. Lightning conductors, application of fire-retardant chemicals, combing of the thatch, proximity of vegetation, and installation of additional fire-fighting equipment (extinguishers or damper systems), are compulsory and standard in the marketplace. Maintenance should also be caried out every 5 to 6 years and proof thereof sent to Insurers. Other installations such braai/fireplace facilities, within the Thatch structure, must be carried out with caution and only done by professionals who are experienced in this field.

• Power Surge Protection in homes and businesses on your main DB boards are compulsory with certain Insurers, however, some may charge far higher excesses should you not have protection in place. If your electrician is installing surge arrestors, please remember to obtain a COC (certificate of compliance) on completion.

• Solar systems once installed are not automatically included on your policy, and hence your Insurer needs to be notified. Use only accredited solar installers who will issue a COC, which is an insurance requirement, and be sure to check with the installer that your roof can withstand the extra load of the panels. Ensure that your installer has a valid Contractors All Risks policy in force when working at your premises.

• Should the security of your premises change, please notify us immediately. We have experienced numerous incidences where Linked Alarms have been disconnected, which can lead to a claim being rejected. This also applies to new installations if you are changing service providers where the alarm is not operational for a few days or for longer periods.

• We urge clients not to stop debit orders with your bank, as this is bad reflection on your portfolio history. If there are challenges rather contact our office so that we can make alternative arrangements on your behalf.

• It is also vitally important to notify our office when you change your address. Insurers are very strict when material changes to a policy can affect the risk, hence the need to please contact us immediately.

• When it comes to your assets that are insured, it’s always wise to read your policy terms and conditions or contact our office to ensure that you do comply with your Insurers underwriting criteria.

Please do try not to unsubscribe from our “IMPORTANT NOTICE” emailers which are sent from time to time. They contain valuable information which may help you to alleviate discrepancies at claims stage.

We would like to take this opportunity to thank all our loyal clients for your continued support. Should you have any questions with regards to the above points, please do not hesitate to contact our office.

Best Regards

Jurgens Insurance Brokers Team
Congratulations to Lorraine Else on achieving her 15 Year Service Award – Presented by Mark Jurgens and Greg Brits. We wish Lorraine many more years as a valued member of the Jurgens Insurance Brokers Team!
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