The omens didn’t look good for King Price in the early years. The motor insurer was going into a direct-sales market in 2012 that had three dominant players: Outsurance, Telesure and MiWay.

King Price did not have the benefit of a powerful parent, though admittedly neither did Telesure when Douw Steyn started trading in 1985 — but Steyn had no direct competition. King Price’s controlling shareholder is Mergon, fronted by a group of Pretoria tycoons...

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