Sasria appoints Mpumelelo Tyikwe as new CEO

The South African Special Risks Insurance Association (Sasria) has announced the appointment of Mpumelelo “Mpumi” Tyikwe as the new chief executive. His appointment was effective from 7 April.

The association, an agency of the National Treasury, said Tyikwe’s appointment follows a vigorous processes that emanated from the recruitment board’s satisfaction.

Sasria said in a statement 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.

Among his many accolades, Tyikwe created the first blackowned 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.

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This was followed by leading strategy at the Standard Bank wealth division.

“We have gone through a thorough process to find a candidate capable enough to lead Sasria into the future,” said board chair Moss Ngoasheng.

“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.”

Tyikwe is former CEO 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 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.”

Tyikwe said he was looking forward to the challenge.

“Sasria is a big-potential business where I see opportunities in growing and diversifying the revenue streams as we need to make it sustainable, strengthen its investment portfolio and improve its solvency position,” he said.

– SAnews.gov.za