Following the unveiling of a new group strategy on March 1, Absa’s Wealth, Investment Management and Insurance (WIMI) division is pleased to announce the appointment of Dushen Naidoo as Managing Executive for its pan-African Insurance businesses.
The move is part of the group’s plan to build a close working relationship between WIMI and Retail and Business Banking (RBB) to ensure an integrated and seamless value proposition to clients. In this role, Naidoo will assume full responsibility for the integrated strategy and value propositions, profit and loss and operational synergy opportunities across the Life and Short-Term Insurance businesses.
He joins WIMI with a wealth of experience spanning strategy, retail, life and short-term insurance and brings an entrepreneurial flair after successfully running his own business. Before running his own business, he was the Head of Emerging Markets at Discovery. His other work experience includes being the CEO of FNB Life as well as a Divisional Director for Product Management at Liberty.
“The announcement by our Group CEO Maria Ramos in March set the tone and course of our strategic ambition, premised on the foundation of ‘bringing possibilities to life’. This has led us to examine how our customers experience our propositions in line with their needs,” says Nomkhita Nqweni, Chief Executive of WIMI.
“We created this role to enhance our ability to interlock more effectively with RBB, ensure a seamless value proposition and to consolidate the leadership of our WIMI Insurance entities.”
As regulated entities, the Short-Term and Life Insurance businesses will remain separate entities. Karen Miller, Managing Executive of Short-Term Insurance, and Marcel de Klerk, Acting Head of Absa Life, will report into Naidoo. As leaders of the Centres of Excellence for the Short-Term and Life Businesses across Africa and Instant Life, Miller and De Klerk will continue to fulfil their current responsibilities.
Naidoo, who holds a Bachelor of Science degree from the University of Natal and an MBA from the University of Cape Town, will be joining WIMI on May 15, 2018.