{"id":879083,"date":"2026-10-09T11:55:59","date_gmt":"2026-10-09T09:55:59","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=879083"},"modified":"2026-10-09T11:56:02","modified_gmt":"2026-10-09T09:56:02","slug":"the-south-african-boss-who-went-from-earning-r1-2-million-to-r67-million-in-just-five-5-years","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/879083\/the-south-african-boss-who-went-from-earning-r1-2-million-to-r67-million-in-just-five-5-years\/","title":{"rendered":"The South African boss who went from earning R1.2 million to R67 million in just five 5 years"},"content":{"rendered":"\n

Outsurance Group CEO Marthinus Visser earned over R83 million in 2026 for his executive role, with most of the remuneration coming from performance incentive schemes.<\/p>\n\n\n\n

Visser has served as the group’s CEO since 2018 and has been with the company since 1998, when he first joined as a senior actuary.<\/p>\n\n\n\n

For 2026, the group CEO will take home approximately R83.4 million in total remuneration, with a basic guaranteed pay of R8.1 million.<\/p>\n\n\n\n

This means that Visser’s guaranteed pay only comprised 9.7% of his total salary for 2026, with short-term incentives (STI) accounting for 10.1%.<\/p>\n\n\n\n

The remaining 80.2% of the executive’s salary is from Long-Term Incentive Plans (LTIP), which totals approximately R66.9 million for the year.<\/strong><\/p>\n\n\n\n

In total, Visser’s annual remuneration for 2026 is approximately 57% higher than the previous year, at nearly R53 million.<\/p>\n\n\n\n

While the CEO’s guaranteed pay has risen steadily over the last five years, his LTIP earnings have surged over the same period.<\/p>\n\n\n\n

In 2022, remuneration from these incentive plans totalled R1.2 million<\/strong>, less than his guaranteed pay.<\/p>\n\n\n\n

Along with his remuneration, Visser will also receive remuneration for his minority shares in Outsurance Holdings (OHL) in the form of Outsurance Group (OGL) shares.<\/p>\n\n\n\n

The company previously announced that it would acquire the minority shares<\/a> of OHL in exchange for OGL shares, in a bid to simplify its corporate structure.<\/p>\n\n\n\n

Currently, the Outsurance Group owns a majority of the company and is now looking to make it a wholly owned subsidiary.<\/p>\n\n\n\n

Visser was one of the minority shareholders in OHL, which is responsible for most of the group’s insurance and administrative operations, owning roughly 2.01% of the company.<\/p>\n\n\n\n

As part of the transaction, Visser’s shares in OHL will be exchanged for OGL shares, creating a single shareholder level.<\/p>\n\n\n\n

Group CEO salary, five-year view<\/h2>\n\n\n\n
Year<\/th>Basic salary<\/th>STI<\/th>LTI<\/th>Total<\/th><\/tr><\/thead>
2022<\/td>R6,347,250<\/td>R6,473,091<\/td>R1,206,150<\/td>R14,026,491<\/strong><\/td><\/tr>
2023<\/td>R6,785,210<\/td>R7,492,597<\/td>R5,875,740<\/td>R20,153,547<\/strong><\/td><\/tr>
2024<\/td>R7,463,731<\/td>R8,068,170<\/td>R23,880,168<\/td>R39,412,069<\/strong><\/td><\/tr>
2025<\/td>R7,859,309<\/td>R8,111,868<\/td>R36,995,400<\/td>R52,966,577<\/strong><\/td><\/tr>
2026<\/td>R8,071,510<\/td>R8,404,944<\/td>R66,933,918<\/td>R83,410,373<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n

Payday for Outsurance execs<\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

Visser is not the only Outsurance executive earning a large amount from the company’s LTIP, with several others having this plan account for a majority of their remuneration.<\/p>\n\n\n\n

The group’s chief financial officer (CFO), Jan Hofmeyr, saw his remuneration for 2026 increase by 61.3% from R41.4 million to R66.8 million.<\/p>\n\n\n\n

R53.5 million of this total remuneration was in the form of benefits derived from LTIP schemes, which accounted for 70.7% of his total earnings.<\/p>\n\n\n\n

Hofmeyr resigned from his position at Outsurance earlier this year, planning to join Pepkor’s new banking operations.<\/p>\n\n\n\n

Danie Mathee, the CEO of Outsurance’s South African operations, also earned a high salary of nearly R63 million, with 79.5% coming from LTIP benefits.<\/p>\n\n\n\n

The company’s executives saw a strong boost to their earnings through LTIP benefits, which are awarded based on performance.<\/p>\n\n\n\n

The company said the high LTIP benefits reflect the group’s strong financial performance over the past year.<\/p>\n\n\n\n

“The LTIP gains have been significant following the strong operating performance, which has translated to a higher market capitalisation of the Group,” it said.<\/p>\n\n\n\n

In contrast to high executive earnings, the Outsurance Group noted that the lowest annual salary among South African employees was R65,141, excluding internships or other learning roles.<\/p>\n\n\n\n

The company said the median actual salary for its senior management was R8.14 million, with the highest annual earnings in this category reaching R76.8 million.<\/p>\n\n\n\n

For its sales employees linked to partnerships, the median salary was R329,315 per year, while the lowest in this category was R65,141.<\/p>\n\n\n\n

The requirement for companies listed on the Johannesburg Stock Exchange (JSE) to disclose their highest and lowest salaries is fairly new and is intended to provide transparency in a company’s operations.<\/p>\n\n\n\n

Outsurance said this disclosure provides a “transparent view of remuneration distribution across the organisation.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Outsurance CEO Marthinus Visser earned over R83 million in 2026, largely from long-term performance incentives.<\/p>\n","protected":false},"author":131,"featured_media":879130,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2108496957001883996","_sma_facebook_post_id":"191437357620492_2231349294352136","_sma_instagram_post_id":"17982263861904359","_sma_x_attempts":1,"footnotes":""},"categories":[9872],"tags":[26759,9653,4076],"class_list":["post-879083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-marthinus-visser","tag-outsurance","tag-pepkor"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=879083"}],"version-history":[{"count":27,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879083\/revisions"}],"predecessor-version":[{"id":879136,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879083\/revisions\/879136"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/879130"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=879083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=879083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=879083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}