Home Guarantors Finance Africa Reinsurance (HGFARe)
Home Guarantors Finance Africa Reinsurance (HGFARe) is a South African non-profit company, created in 1989 under Section 21 of the Companies Act.
• It was created in response to the reluctance of the financial sector to lend to a perceived high risk housing market.
• Originally established with a combination of grant and loan funding, they have repaid all loans and have a substantial free-standing capital base.
• It has AA+ ratings from both Fitch Ratings Limited, through their London office. HGFARe has a subsidiary insurer, Home Guarantors Finance Africa Reinsurance, Guernsey, Channel Islands.
• Through its insurance licence, the company is regulated by the Financial Services Board, and significantly exceeds its solvency ratio requirements.
• HGFARe operates successfully in more than 705 localities nationally across all cultures, languages and levels of literacy.
Visit the Home Guarantors Finance Africa Reinsurance website.