Underwriting is the process of assessing the amount of risk an insurer takes on by providing cover. It determines whether the policyholder poses an acceptable risk and if it does, calculates the fair price for a cover and which cover one is eligible for.

The bespoke cover, Diaspora Funeral Cash Plan (DFCP) provided by Diaspora Insurance is underwritten by Guardrisk Life International Ltd which is based in Ebene, Mauritius. It is re-insured by Africa Re and FM Re.

Guardrisk Life International Ltd is a well-established multi-billion dollar global business company that is licensed to write business internationally and is located in Mauritius an offshore jurisdiction of substance with recognised anti-money laundering laws and favourable fiscal laws which protect policyholders. The company established in 1998 has dedicated on-site management in Gibraltar, South Africa and Mauritius.

FM Re, a subsidiary of First Mutual Holdings is a leading re-insurer trading with A rated international securities. Africa Re, established in 1976 is the most experienced and largest re-insurer in Africa in terms of net reinsurance.

By having policies underwritten and re-insured by companies operating in stable economies we ensure that clients do not lose their hard-earned premiums, staying in line with our mandate to treat customers fairly and deliver the best service. That Diaspora Funeral Cash Plan is underwritten by such well-established companies highlights how our operations are above board and meet global standards. This further guarantees the long-term protection of clients’ policies and their beneficiaries.

Diaspora Insurance is authorized and regulated by the Financial Conduct Authority (FCA) under registration number 795897 and by the Financial Sector Conduct Authority (FSCA) in South Africa under registration number 48996, this provides a triple layer of protection to the clients’ policies.

Diaspora Insurance headquarters are located in the UK and we have physical offices in South Africa and in Birmingham. We provide insurance to clients from at least 13 African nationalities and counting. The company has been operating for more than10 years and to date has paid out over US$4 million worth of cash settlements to bereaved clients. The company has a 4.8-star rating from its happy clients on Google reviews. We have a team of expert sales advisors and customer care such that support is always available 24/7.

When taking insurance, it is always good practice to do a background check on the insurer. Reviews provided by clients and checking whether they are regulated in key markets should also form part of the due diligence.


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