NestLife Assurance Corporation Limited originated from Life and Pension Corporation which was founded in 1988, operating solely in the North West Province.
In 1996, the CEO Vusi Sithole bought a controlling stake from Capital Alliance using his investment company, Phakama Investment Holdings to acquire a 74% stake and later bought the remaining 26% to acquire 100% of the company. NestLife Assurance Corporation Limited was inaugurated and then became a100% black owned and managed life insurance company.
Th organisation has grown to be a specialist group risk insurer. We use our knowledge and expertise to provide insurance solutions to organised, structured and legally constituted groups such as Trade Unions, Corporations, Retirement Funds, Brokers, Funeral Parlours and Administrators, Employee Benefis Intermediaries, Professional Associations, Parastatals and other Government Institutions.
Headquartered in Gauteng, Nestlife has offices in the Eastern Cape, Free State and KwaZulu Natal. The company underwrites over R350 million in annual premium income.