Insurer Outsurance has appointed its chief product officer, Nathaniel Simpson, as the new CEO of its short-term insurer in Australia, Youi.
Simpson will take the reins from July 1 after the announcement earlier in February that founder Hugo Schreuder will step down after 15 years.
“Nathaniel has demonstrated outstanding leadership abilities during his tenure at both Outsurance and Youi, having held various leadership positions over the past 10 years,” the company said.
“The announcement also allows for an appropriate handover period and seamless transition to ensure the delivery of favourable outcomes for customers, employees and communities,” it added.
According to his LinkedIn profile, Simpson joined the group, valued at R55.76bn on the JSE, in June 2006 and Youi in December 2017.
Outsurance owns an 89.9% stake in Youi, which generated just more than one fifth of the group’s operating profit in 2022.
Outsurance group CEO Marthinus Visser said the appointment shows the group’s ability to develop and grow leaders internally.
“Nathaniel’s deep understanding of the business as well as his energy, drive and leadership skills should support the ongoing success of Youi,” he added.
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