Our Company


Who is Petrosure?

Petrosure was born out of the need for a dedicated Underwriting Management Agency with the right credentials in this exciting sector of our economy in line with the Liquid Fuels Charter proclamation. The company consists of dynamic, black economically empowered multidisciplinary individuals drawn from a team of dedicated professionals and entrepreneurs, who want to participate in the unfolding process of economic transformation of South Africa.
Petrosure Fuel Guarantee Insurance

The Fuel Guarantee Insurance basically means that the Fuel Retailer can use the insurance company as a guarantor when buying fuel.

Due to the nature of the fuel business and the high cost of holding stock, cash flow is one of the keys to the success of your business.

The business needs to generate enough revenue to meet daily, weekly and monthly expenses, and at the same time maintain stock levels to ensure uninterrupted trading in accordance with the fuel companies’ requirements. The retailer thus needs sufficient working capital to meet the demands of large fuel payments.
In order to do this, the retailer either takes out a large loan or provides an adequate overdraft facility. The need for a bank guarantee is over and above these requirements.

Without a guarantee, the retailer effectively trades on a ‘hard cash’ basis. Revenue needs to be in the account prior to payment for fuel, and delivery is only scheduled subsequent to payment. This working capital required is costly. In the event of a bank guarantee being issued, the retailer can enjoy the benefits of ACB payment for fuel, after delivery. This adds several days deposits to the bank account improving cash flow considerably, but the bank guarantee is also costly to the retailer in terms of opportunity costs of having such funds available in the business.

In today’s industry where guarantee values requested are reaching levels in excess of R1 million, it makes more sense to use the insurance guarantee, as opposed to tying up excessive cash in providing a bank guarantee. With the introduction of an insurance type product, the fuel guarantee alleviates the need for a cash on demand guarantee and allows the service station owner to utilise his or her capital where it is best required – in the business! Having more capital in the business can improve the cash flows further and reduce any loan risks or trading risks.

Typically the cover kicks in when the debit order is unpaid and the fuel company cannot collect the amount due by the retailer. It may also cover rental, lubricants, or trade receivables bought on credit.

Also, note the following guidelines, tips and considerations applicable to Fuel Guarantee Insurance:

  • The Fuel Company normally stipulates the value of the guarantee required.
  • This is usually approximately two full deliveries value and dependent on the tank capacity and sell-off volume of the business.
  • The guarantee can also be used to increase existing guarantees, or replace the entire guarantee.
  • No assets are normally required as collateral security – unsecured.
  • Payment for fuel via ACB debit instead of pre-payment – cash flow benefit Monthly premium. Premium written off against taxable income.
  • If you are a new retailer, it reduces your capital requirement as the bank guarantee investment is removed from overall set up cost.
  • Existing bank guarantees can be replaced in order to free up assets.
  • Existing bank guarantees can be topped up – if insufficient.
  • Retailers trading on pre-payment basis can easily move onto ACB without impact to their cash or assets base.
  • Opportunity cost.

Integrity Passion . Innovation


To build strategic long term sustainable relationships with service providers by providing quality products and services at competitive prices and offering the best value proposition for our customers.

To exceed the exacting demands and challenges of providing a specialist multiperil one stop shop by being a total solutions for the fuel and motor traders insurance.

Our Vision

To be the preferred insurance services provider within the liquid fuels and motor industry by providing leadership, quality products and in the process creating value for our stakeholders.

Our Values

  • Integrity
  • Professionalism
  • Passion
  • Innovation


We want to be an institution that upholds the values of integrity, professionalism and passion, underpinned by a good work ethic, professional appearance and conduct beyond reproach.


  • To be the premier provider of targeted specialized insurance products and related services within the fuel and motor industry.
  • To expand and grow our product offering in line with industry trends
  • To develop unique and comprehensive solutions, based on principal performance and benefit to the end user.
  • To combine aggressive strategic marketing with quality products and services at competitive prices to provide the best insurance value for our consumers and the industry at large.
  • To look beyond the immediately obvious problems and obstacles and seek solutions to address these.


  • Fuel Retailers Association (FRA)
  • South African Petroleum Industry Association (SAPIA)
  • Industry related Dealership Councils across all the fuel brands
  • Strategic Alliances and Partnership
  • Supportive regulatory and Socio-political environments
  • Retail Motor Industry bodies (RMI)
  • Related Industry Organizations
  • Specialist broking houses
  • Industry suppliers & service providers
  • Specialist product suppliers i.e. Fuel Guarantee and environmental liabilities
  • Fuel Companies
  • Brokers

Bespoke Motor Traders & Fuel Insurance Specialists 

Petrosure Underwriting Managers is a niche short term specialist UMA offering unique, innovative, tailor made risk management driven solutions to the Fuel & Motor Retail industries. Through strategic partnerships, we strive for exceptional customer service levels unparalleled by our competitors.

In a world where unpredictability is the norm, risk management becomes an even more critical element in managing everyday risks and more so within the life blood of our country's economy, the Fuel & Motor retail industries. We are committed to providing market leading solution products as the shape of our niche focus continue to develop and evolve.

Our innovative, market leading motor trade insurance policy is designed for both road risks, premises and liability covers and some innovative enhancements. Our product solutions require a partnership approach between you our valued brokers and clients to enable us to give you that all important competitive edge in an increasingly competitive environment. As a result of our intimate knowledge of the markets we specialize i,n and our intrinsic understanding of our client's needs, we are able to offer an excellent value proposition for our clients and all stakeholders.

Business Partners

Trends in today's markets involve the development and integration of various value added service facilities. This has resulted in the formalisation of commercial trading partnerships and the development of value added supplier networks.

This is as evident in the short term insurance market as it is anywhere else. We understand that this involves differentiated, value added partnerships between insurers, underwriting managers, their chosen distribution channels and a variety of service providers and suppliers.

We focus stringently on providing a quality offering and this is only possible through strategic partnering with organisations that assist us in doing this. This philosophy holds true in the selection of our operational partners, strategic alliances and supplier groups.


BEE Status

Petrosure Underwriting Managers (Pty) Ltd  qualifies as an EME enterprise in terms of the Broad-Based Black Economic Empowerment (B-BBEE) and as such we are determined a preferred supplier to all other businesses in South Africa.

Our BEE status is a Level 3 contributor which means that Petrosure Underwriting Managers (Pty) Ltd  has a B-BBEE recognition of 110% in terms of procurement scoring. In other words, for every rand of your premium spend with Petrosure , you will be able to claim a rand in terms of your companies own B-BBEE scorecard.

Please contact us should you require certification relating to our BEE status

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Comments or questions are welcome!