Prosperity Funeral Administrators (Pty), Pretoria

As the oldest black insurer, Prosperity Life has been gaining valuable experience in this market sector for more than two decades prior to its current competitors. Prosperity Insurance Company Limited (now Prosperity Life), the first black-owned insurance company licensed in South Africa by the Financial Services Board in 1951, is proud of its Eastern Cape heritage. Initially, Prosperity Life operated throughout South Africa, with the Head Office rooted in Mthatha (Eastern Cape), where the current Chairman - Agrippa Mayaba - was born in 1932. Prosperity Life established a close working relationship with shareholders and customers in the area and marketed a range of affordable life assurance and funeral policies ideally suited especially to lower income markets. Prosperity Funeral Administrators, established in 1998 as the administrative wing of Prosperity Life, is today one of the largest Funeral Administrators in South Africa. Prosperity Life was considered a foreign company and prohibited from operating in the Republic. Prosperity Life had to dispose of its Republic assets and was denied the opportunity to grow.