LOA announces new Board for 2007
The Life Offices' Association (LOA) today appointed Liz Lambrechts, CEO of Sanlam Personal Finance, as its new chairman for 2007. Lambrechts, the second woman to hold the position of chairman, takes over from Mike Jackson, CEO of the Professional Provident Society (PPS).
Nazeer Hoosen, MD of Regent Life, will serve as deputy LOA chairman for the next year.
Speaking at a media conference following her appointment as LOA chairman, Lambrechts, said the past two years will go down in the life industrys memory as a time of laying the foundations needed to implement solid changes that will better align the life industry with changed consumer needs.
"In 2007 we can therefore look forward to a year that will reveal a number of new initiatives aimed at providing customers with better value and also restoring customer confidence in this industry. I believe that this industry is committed to implementing changes that will better serve our customers."
She pointed out that the life industry is still the largest custodian of this country's savings through its contractual savings products, adding that it is the role of the life industry to continue fulfilling this important role by encouraging an improved long-term savings environment offering for consumers through fair costs and greater transparency.
Lambrechts also welcomed the decision by the LOA Board to recommend to member life companies to start enhancing the fund values of qualifying retirement annuity (RA) funds and endowment policies in line with the Statement of Intent as from the beginning of December this year.
The new LOA Board members for 2007 are:
Liz Lambrechts (chairman)
CEO: Sanlam Personal Finance
Nazeer Hoosen (deputy chairman)
MD: Regent Life
Willie Lategan
MD: ABSA Life
Gert Wessels
MD: Assupol Life
Herschel Mayers
CEO: Discovery Life
Nicolas Kohler
MD: Hollard Life
Bruce Hemphill
CEO: Liberty Life
Peter Doyle
CEO: Metropolitan Life
EB Nieuwoudt
MD: Momentum
Paul Hanratty
MD: Old Mutual (SA)
Mike Jackson
CEO: PPS Insurance Company Ltd
Desmond Smith
Chairman: RGA Reinsurance
