Paul Truyens to join the OMLACSA board

Old Mutual has appointed Mr. Paul Truyens (pictured) as an independent non-executive director of Old Mutual Life Assurance Company of South Africa (OMLACSA), with effect from 18 February 2009. He has also been appointed as a member of the Audit, Risk and Compliance Committee.

Truyens is a distinguished actuary with more than thirty five years’ experience in the life assurance industry in South Africa and overseas.

He was admitted as a Fellow of the London-based Institute of Actuaries in 1977.

An early player in the IT industry, he completed a four-year technical apprenticeship with National Cash Register Company (NCR) during the 1960’s, finishing up as a computer engineer in 1966.

He went o­n to study at the University of Cape Town o­n an Old Mutual actuarial bursary, graduating BA (Economics) and B.Sc (Mathematical Statistics) in 1971 and BA Hons. (Economics) in 1972.

In 1980 he joined the Southern Life, and was appointed Chief Actuary in 1992, becoming CFO and member of the Executive Directors’ Committee in 1995.

During this period Truyens belonged to several committees of the Actuarial Society and the Life Offices’ Association, and served as President of the Actuarial Society of South Africa in 1999-2000.

Having taken early retirement in 2001, he worked for PricewaterhouseCoopers in the Netherlands as an actuarial auditor and consultant for life assurance companies in Europe from 2002 until 2007, and in South Africa in 2008. He specialised in financial reporting under local, US, and international accounting standards.

Since 1997 Truyens has been a director of INCA, the Infrastructure Finance Corporation, where he is currently chairman of the Audit, Risk and Compliance Committee. He also served o­n the boards of several listed and unlisted insurance companies between 1986 and 2001.

“We are very pleased to welcome Paul Truyens to the OMLACSA board,” says Professor Andreas van Wyk, chairman of OMLACSA. “He will bring a wealth of experience to Board deliberations. His vast knowledge of the industry, and his professional insights, will stand Old Mutual, its stakeholders, customers, and staff in good stead.”