Absa appoints new head of insurance
Following the unveiling of a new group strategy in March, Absa’s Wealth, Investment Management and Insurance (WIMI) division has announced 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,” the bank said in a statement on Thursday (26 April).
“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.”
“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,” added Nomkhita Nqweni, Chief Executive of WIMI.
As regulated entities, the Short-Term and Life Insurance businesses will remain separate entities, Absa said.
Read: EFF reveals plans to create state-owned banks in South Africa
Loading ...