Youi to welcome new CEO

Youi to welcome new CEO | Insurance Business

Youi to welcome new CEO
A South African-owned general insurance company will be welcoming a new chief executive by mid-2017.

Youi’s deputy CEO Frank Costigan will take on the role as the company’s chief executive responsible for its operations in New Zealand and Australia, as Danie Matthee steps down from the position on July 01, reported.

Mathee leaves Youi to become the CEO of OUTsurance, an insurance company under the same parent company as Youi, OUTsurance Group. The group owns 93% of Youi.

Trevor Devitt, Youi’s head of service quality, said the appointments have been part of a “comprehensive handover process,” which was put into gear when OUTsurance’s former CEO, Ernst Gouws, who stepped down from the role last year, “indicated some years ago that he would want to step into a different role during 2016.”

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“As part of proper succession planning, Frank Costigan was appointed as deputy CEO at Youi with Danie Matthee being earmarked to assume the CEO role at OUTsurance,” he said.

Costigan serves as CFO & COO, Australia and New Zealand at Berkshire Hathaway Specialty Insurance; and was CFO direct insurance at IAG, CFO and head of business development & strategy for IAG Asia, and executive director, equities research at UBS Investment Bank.

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