OMI appoints Ricardo Govender as chief actuary

Johannesburg - Old Mutual Insure today announced the appointment of Ricardo Govender as Chief Actuary and Head of Actuarial Function (HAF), effective 1 June 2025.

In his role as Head of Actuarial at Old Mutual Insure, Ricardo will be instrumental in providing strategic actuarial insights that inform decision-making across the business. His leadership will support innovation, enhance risk management, and contribute to strengthening Old Mutual Insure's position as a trusted insurer in a changing market.

"Ricardo is well known and highly respected within the actuarial community and non-life insurance market. We are thrilled to welcome him to Old Mutual Insure. His values and approach are a strong fit with our culture, and I am confident he will make a significant contribution both for our business and broader industry," said Charles Nortje, Managing Director of Old Mutual Insure.

With more than a decade of experience in the insurance industry, Govender brings a strong track record of technical excellence, strategic thinking, and leadership to the role.

Ricardo joins Old Mutual Insure from Deloitte, where he has successfully led the General Insurance Actuarial Team since 2021. A Fellow of the Actuarial Society of South Africa, he also holds practising certificates in both short-term insurance and microinsurance.

The appointment of Ricardo reflects Old Mutual Insure's continued focus on strengthening its leadership and fostering a culture of innovation, integrity, and professional growth.

Commenting on his appointment, Ricardo Govender said: "I am honoured to be joining Old Mutual Insure at such an interesting time for the business and the industry. I've always admired the company's strong commitment to its people, customers and the actuarial profession. I look forward to working with the talented team at Old Mutual Insure to continue driving technical excellence."

Ricardo's technical expertise spans a broad range of areas, including IFRS 17, economic and regulatory capital modelling, ORSA, risk and capital management, reserving, actuarial and projection modelling, reinsurance optimisation, and due diligence assessments.

Nortje said that the appointment of Govender comes at a time when the insurance industry is undergoing significant change. From extreme weather events and economic volatility to cyber threats and rapid urbanisation, all players in the insurance ecosystem – brokers, clients, and policymakers alike – are being called to navigate this shifting landscape.

"Harnessing data to better understand and mitigate risk, while developing innovative insurance solutions that serve customers and society, is more important than ever – not only for long-term business sustainability, but to keep insurance a critical safety net," concluded Nortje.