The South African Special Risks Insurance Association (Sasria) has announced the appointment Mpumelelo “Mpumi” Tyikwe as the new Chief Executive Officer (CEO).
His appointment is effective 7 April 2022. Sasria is an agency of the National Treasury.
The association said Tyikwe’s appointment follows due, vigorous processes that emanated from the recruitment board’s satisfaction after all due processes were followed.
In a statement, Sasria said it was looking forward to working with a dynamic and goal-oriented business leader with vast experience in leading business operations within the insurance industry, mostly involving turnaround strategies, spanning 20 years.
Tyikwe succeeds Cedric Masondo, whose term ends in May 2022.
Among his many accolades, Tyikwe created the first black owned Underwriting Management Agency at Hollard. He was also a key figure in Santam’s development of its business strategy, driving business growth and profitability through specialist companies and corporate business between 2008 and 2009. This was followed by leading strategy at the Standard Bank Wealth Division.
Moss Ngoasheng, Sasria’s board chairperson, said: “We have gone through a thorough process to find a candidate capable enough to lead Sasria into the future. Tyikwe’s proven track record proves that his appointment is perfectly suited to lead Sasria as it embarks on its journey, one that’s equally challenging and exciting. We thank Mr Masondo for the sterling job he has done for the organisation.”
The incoming CEO has been in the same position at the Land Bank Insurance Company (LBIC).
“Tyikwe played a key role in the growing business at Santam and LBIC as he developed strategies, which bore the successful implementation of interventions after he initiated them. One of these was the notable acquisition of Absa’s crop business, a move that saw a significant, profitable increase that ultimately became a sustainable revenue model.
“One of the key aspects of running a successful business is the leveraging of existing and the creation of new networks, a skill Tyikwe is familiar with as he is capable of leveraging partnerships aimed at business growth.”
Sasria said these kinds of partnerships were what further enhanced Tyikwe’s skills in stakeholder management, an aspect he showed at LBIC as he established sound relationships with government departments such as Agriculture and Land Affairs. Tyikwe said he was looking forward to the challenge ahead.
“Sasria is a big-potential business where I see opportunities in growing and diversifying the revenue streams of the business as we need to make the organisation sustainable, strengthen its investment portfolio and improve the solvency position of the organisation.
“We will work closely with various stakeholders to manage key risks with the aim to practively manage riots and public unrest.
Ngoasheng said he was confident that Sasria was in safe hands.
“These are hands that see opportunities in identifying possible new products and the creation of unique distribution channels. That’s the kind of thinking Sasria currently needs with unexpected challenges always on the horizon,” he said. – SAnews.gov.za
