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PSG Insure announces director and management changes

17 December 2021 PSG

PSG Konsult has announced that the CEO of its insurance division, Rikus Visser, will be retiring in August 2022 and taking up the role as non-executive Chairman.

Visser took the reins at Western National in June 2008 and as PSG Insure CEO in 2013. He has played a pivotal role in growing the business with current annual premium income exceeding R5.6bn. 

The firm has named current SASRIA CEO, Cedric Masondo, as his successor. 

Masondo’s current five-year term at SASRIA comes to an end in May 2022, and he will be joining PSG Insure as CEO from 1 August 2022. Masondo joined SASRIA in 2009 and he is the Chairperson of the South African Insurance Association with over 25 years’ experience at leadership level. 

Changes are pending regulatory approval. 

“The Board of PSG Konsult would like to thank Rikus for the valuable contribution he has made over the years,” said PSG Konsult CEO Francois Gouws. “We look forward to his contribution as non-executive Chairman of PSG Insure, and the contribution Cedric will be bringing to the group in growing our business further.”

Quick Polls

QUESTION

There are countless articles written about South Africa’s poor retirement outcomes. Which of the following would you single out as the biggest contributor to local savers not accumulating enough to buy an adequate and sustainable pension?

ANSWER

Lack of personal accountability
Poor participation in formal retirement funds
Reluctance to seek financial advice early on
SA’s high unemployment rate
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