Altrisk Announces Departure of MD

Long-term risk product provider, Altrisk has announced that managing director Michael Blain will leave the company at the end of July to pursue personal and other business ventures. Blain has been at the helm of Altrisk since May 2012.

Blain has led the company towards its integration as a wholly-owned division of the Hollard Group which will commence 1 July 2014.  As a wholly owned division, Altrisk will represent Hollard for individual underwritten risk as the specialists in the group.  

“With the task of guiding the business towards its integration into the Hollard Group now well underway, I have decided to move onto other business interests. My immediate task is to ensure a smooth transition that will preserve the culture and values that have successfully differentiated Altrisk in the market.  I will miss the highly talented and skilled staff I have had the pleasure of working with, but I know that I am leaving a business which is very well positioned for the future,” says Michael Blain, managing director of Altrisk. 

On Blain’s departure, Saks Ntombela, managing director of Life & Investments at the Hollard Group adds:  “Michael will be missed at Altrisk, but we wish him everything of the very best in his new endeavours. His passion and energy have helped shape the business and he has been an invaluable support in formalising the strategy for the transition of the Altrisk business into the Hollard Group.  He has been an integral part of building Altrisk to be a leader in the specialised risk space and has helped steer the business through a remarkable phase and also helped solidify a culture of professionalism, service delivery and exceptional customer centricity.  Michael is highly regarded for his skills and professionalism with an impeccable reputation in the insurance industry.  We wish him well with his future plans,” says Saks.   

Altrisk was established in 1999 by co-founders Dalene Allen and Nick Stern with the backing of the Hollard Group and Hannover Re.  Today the specialist risk provider covers over 170 000 lives with sums insured of more than R226 billion. The Hollard Insurance Group (comprising the Hollard Insurance Company and Hollard Life Assurance Company) is South Africa’s largest privately-owned insurance group, established in 1980.