Who we are

The story behind Africa's Guarantee & Bond Specialists.

Over 20 years of specialist underwriting in every facility we structure. 

PCBS was founded in 2005 on a single belief: that specialist guarantees and bonds deserve specialist underwriting.

More than two decades on, our knowledge has deepened, our sector reach has grown, and our underwriting team has never been stronger.

Below, you’ll find the milestones that shaped us and the experts powering PCBS.

Our milestones

Innovation & agility from the start.

PCBS has anticipated market shifts, absorbed hard lessons and emerged stronger each time. We’ve built a company as resilient as the guarantees and bonds we issue.

2005
PCBS opens its doors

Founder Lukas Marquart sees a gap in the market for a construction guarantee company, as only banks and two other businesses offer this specialist service.

2007
First underwriting mandate

Guardrisk Insurance Company Ltd invites us to underwrite for them in a cell-captive environment.

2009
World Cup growth surge

South Africa’s construction industry booms in the lead-up to the 2010 FIFA World Cup. PCBS experiences rapid growth as demand for construction guarantees skyrockets across the country.

2010 to 2012
Hard lessons. Stronger foundations

The post-World Cup period brings major claims – first from failed power plant projects, then from contractor liquidations in the aftermath of the construction frenzy. These are among the most testing years in our history. We pay out. We learn. We adapt.

2013
Turning point

After several years of big losses, we make the decision that defines the PCBS we are today. We fundamentally re-evaluate and revolutionise our underwriting philosophy – tightening our risk-assessment processes, deepening our sector knowledge and building the framework that has produced some of the lowest claim ratios in the market ever since.

2019
Partnership with Bryte Insurance

PCBS begins underwriting for Bryte Insurance. This partnership brings A-rated claim-paying ability and a formal mandate that underpins every facility we issue today.

2023
Court Bonds added to our product range

After being approached by a specialist intermediary to underwrite Court Bonds, PCBS expands into the fiduciary sector, bringing the same disciplined underwriting approach to executors, trustees and estate administrators in South Africa.

2024
Critical mass reached

PCBS reaches a significant milestone in guarantee and bond volume – the result of sustained growth from 2019, driven by our dedicated team and the strength of our broker partnerships.

2025
20th anniversary

PCBS celebrates its 20th anniversary as one of Africa’s leading guarantee and bond specialists, with one of the lowest claim ratios in the South African market. We are recognised by Bryte Insurance for Best Year-on-Year Growth (3rd Place).

2026
First Reinsurance Forum

PCBS hosts its first reinsurance forum, bringing together leaders from across the global reinsurance community. This is the beginning of a new annual tradition where informed discussion, discovery and connection meet in an unforgettable setting.

Our values

Everything we do is guided by our clients' needs.

Expertise, innovation and transparency are the principles behind our products.

Expertise

We bring deep knowledge and insight to each project. Our decades of experience in specialist insurance — and our understanding of the risk profiles unique to each sector we serve — shape every underwriting decision we make on your behalf.

Innovation

Our creative, tight-knit team and flat organisational structure keep us agile. We anticipate market shifts, adapt our underwriting strategy and find solutions where more rigid organisations see obstacles.

Transparency

Clear, honest communication is the foundation of every long-lasting client relationship we've built. We empower you to make informed decisions by openly explaining how every guarantee and bond works.

Meet the team

Get to know the PCBS Guarantee & Bond Specialists.

These are the people who assess your risk and structure a facility around your needs.

Click on the team member to read their bio.

Lukas

Lukas Marquart
Beauty Khuzwayo

Beauty Khuzwayo
Tunga Changamire

Tunga Changamire
Shaun Lavery

Shaun Lavery
Honest Chikeya

Honest Chikeya
Shaina Mower

Shaina Mower
Joey Peterson

Joey Peterson
Khuselo Johnson Mbatyazwa

Khuselo Johnson Mbatyazwa
Bonga Somhlahlo

Bonga Somhlahlo
Francis Kingston

Francis Kingston

Contact our expert underwriters today.

You’ll speak with someone who knows guarantees and bonds and can help you find the right facility for your next project.

Contact us
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Lukas Marquart

Director

BCom (Economics); RE5  

Lukas is the founding member and driving force behind our company, with a career consistently placing him at the forefront of specialist insurance. As a pioneer in the alternative risk transfer niche, he has been instrumental in shaping the local credit and surety sector. Lukas’s comprehensive understanding of global finance and reinsurance extends across European and African markets. Before starting PCBS, he held senior roles at Swiss Re in Zurich and South Africa and served as General Manager Of Credit at Lombard Insurance.

Away from the office… Lukas enjoys exploring new countries, hiking adventures with his young son and challenging himself to set personal records in the gym or on trail runs.

Beauty Khuzwayo

Underwriter

Dip (Credit Management); RE5 

Beauty brings over a decade of experience in insurance, critical-thinking skills, thoroughness and a love for problem-solving to our team. She joined PCBS in 2023, following a rewarding career at Credit Guarantee Insurance Corporation of Africa Limited, where she most recently held the position of Senior Business Development Consultant. Her career spans many years and various roles in client servicing, during which time she cultivated patience, excellent interpersonal skills and a client-first mindset.  

Away from the office… Beauty balances her high-pressure working life with time outdoors. She feels most calm and free when surrounded by nature.  

Tunga Changamire

Claims & Risk Management Executive

BCom Hons (Finance); Certificate in Advanced Risk Management  

A certified Rescue Analyst, Tunga brings extensive experience in business rehabilitation to his role in managing claims and risk for our company. Since joining us in 2010, he has drawn on his deep expertise to address complex challenges and deliver effective solutions. Before this, Tunga held senior positions in finance and accounting, including roles at Maxim Employee Benefits. Tunga’s ability to proactively identify risks and implement strategic mitigation measures ensures our clients stay well protected.  

Away from the office… Tunga likes pushing his physical limits on the treadmill or in CrossFit class.  

Shaun Lavery

Executive Underwriter

BCom (Financial Management); BCom Hons (Strategic Management); RE5 

Shaun joined PCBS in 2023, with over a decade’s experience in managerial positions at some of South Africa’s top insurance companies. His previous roles include Senior Underwriter at Lombard Insurance, Underwriting Manager at Hollard Insurance, and Business Development Manager/Client Executive at Marsh, where he developed a reputation for excellence in underwriting and client relationship management. With his upbeat personality, infectious enthusiasm, approachability and dedication to client engagement, Shaun is instantly likable and easily builds lasting connections.  

Away from the office… Shaun enjoys unwinding on the golf course, catching up with old friends and giving back through volunteer work at his local church.  

Honest Chikeya

Head of Underwriting & Reinsurance

BCom Hons (Risk Management and Insurance)  

Fellow of the Insurance Institute of South Africa (FIISA); member of The Institute of Risk Management of South Africa (IRMSA) 

Honest has been a key member of our team since 2007, currently leading our underwriting and reinsurance with insight and precision. With a career spanning over two decades, he has established an impressive track record in the construction surety bond and guarantees market. Honest’s strong client focus, attentive service, clear communication, and knack for creating synergies set him apart in the industry.  

Away from the office… Honest thrives while tackling challenges on the soccer field or testing his strategic thinking behind a chessboard. 

Shaina Mower

Underwriter

Higher Cert (Financial Planning); RE5 

Shaina adds energy and a creative spirit to our underwriting team as the youngest member. A passion for the industry runs in her family – she comes from a long line of insurers and underwriters. From her first day at PCBS in 2021, Shaina has taken full advantage of mentorship opportunities from her more experienced colleagues, quickly developing a strong and versatile skill set. She now shares her knowledge and insights with new underwriters as head of our training programme. The competencies Shaina developed at PCBS add to her six years of experience as a Financial Adviser’s Assistant at Momentum Consult.  

Away from the office… When she’s not nurturing budding underwriters, reviewing guarantees or guiding clients, Shaina is likely losing herself in the pages of a fantasy novel.  

Joey Peterson

Marketing & Underwriting Manager: Coastal Regions

COP (Short-Term Insurance); RE5 

With decades of experience in banking and insurance, Joey joined PCBS in 2016 and heads up our KwaZulu-Natal branch. One of her career highlights is successfully launching Renasa Insurance Company’s countrywide guarantee division, a milestone that helped position her as an industry innovator. She now channels her specialist knowledge, flair for building relationships and relentless drive into providing personalised solutions for our coastal clients.  

Away from the office… Joey stays fit on beach walks and parkruns and visits must-see destinations from her travel bucket list.  

Khuselo Johnson Mbatyazwa

Underwriter

RE5 

Khuselo’s underwriting career began in 2012 at PCBS, where he got hands-on training while completing his regulatory examinations for financial services. As he’s grown with our company, he’s become known for his quick turnaround times and staying calm under pressure. His eagerness to tackle challenges and commitment to providing reliable advice have also earned him clients’ trust and numerous referrals.  

Away from the office… Khuselo’s family and country are closest to his heart. He is happiest when he’s discovering beautiful parts of South Africa, exploring Joburg’s shopping malls with his kids or visiting his parents in the Eastern Cape.  

Bonga Somhlahlo

Executive Underwriter

BTech (Quantity Surveying); RE5 

Bonga joined our team in 2025, bringing with him a strong blend of technical expertise and financial acumen. Drawing on his solid background in quantity surveying, project management and guarantee underwriting, Bonga takes a comprehensive and layered approach to his role at PCBS. His previous positions as a Senior Underwriter at Santam Guarantees and Portfolio Manager at Guardrisk Guarantees sharpened his skills in risk assessment, client relationship management and strategic project oversight within the guarantees sector. Bonga also has hands-on experience in the construction industry, giving him a practical edge, meticulous eye for detail and deep understanding of cost-effective, well-managed solutions. He has contributed to several successful international projects – both within construction and in the guarantees space.

Away from the office… Bonga enjoys practising his golf swing and connecting with like-minded people on the course. He also values quality time with family and friends, especially when it involves a good braai.