Alexander Forbes announces executive appointment

Alexander Forbes Group Holdings Ltd (JSE: AFH) has appointed Rudolf Schmidt as Managing Director: Short and Long Term Insurance, with effect from 1 August 2017.

He will be responsible for leading the design and development of a profitable insurance business within South Africa and also offer support to Alexander Forbes Emerging Markets, through which Alexander Forbes operates businesses outside South Africa.

Schmidt, a South African, has an extensive executive career in the financial services sector spanning more than 33 years and joins Alexander Forbes from Assupol Life, where he was the Group CEO. He holds a Bachelor of Commerce (Hons) Degree and a Diploma in Banking.

Sugendhree Reddy, the Chief Executive Officer of Alexander Forbes Retail says Schmidt joins a strengthened executive management team. They are responsible for implementing the “Ambition 2022” strategy to build a globally distinctive pan-African financial services leader whose vision is to help clients achieve a lifetime of financial well-being and security.

“We are pleased to welcome Schmidt who was selected after an extensive executive search. His experience and insights into the financial services sector in general, and the insurance business in particular, is exactly what we needed to further grow and expand our short and long-term insurance offering,” says Reddy.

Schmidt says he is joining Alexander Forbes at an exciting time when the group has restructured its business under the key growth pillars of institutional, retail and emerging markets businesses. “I look forward to work with an exceptionally talented and motivated team to drive business goals and portfolios to ensure profitable growth in the short and long-term insurance business,” he says.