Mutual & Federal makes a new appointment with its eye on Africa

LeRoy Munetsi

Mutual & Federal, a member of the Old Mutual Group, has appointed LeRoy Munetsi as its first Group Executive: Africa, effective from 1 October.

“Africa is a core strategic focus for Mutual & Federal as we look to diversify further into the region. “We have consistently had very strong underwriting results from our existing African market and there is opportunity to further leverage off this and explore untapped opportunities”. The appointment of LeRoy as our Executive responsible for Africa will ensure that we bring the right level of focus to the development and implementation of our African strategy.

Munetsi joins the short-term insurer from his current position as Chief Operating Officer for Absa Life, which he has held since 2008. Prior to this he held a number of senior strategy and finance roles in financial services as well as the MTN Group. His experience in strategy development, stakeholder and relationship management, oversight of governance processes and streamlining of operations, along with his financial skills, will lay a solid foundation for the further expansion of Mutual & Federal into Africa.

“Our African footprint at Mutual & Federal is currently very strongly influenced by that of our parent company, Old Mutual,” adds Todd. “We would like to work on developing new strategies for various African countries, in consultation with Old Mutual, so that we can leverage off each others’ strengths as we continue to expand and grow in these markets. It is evident that there is huge growth potential for the short-term industry in Africa and LeRoy’s appointment will add impetus to our regional expansion.”