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02 March 2020 | 5 - 8 min read
Momentum Metropolitan Holdings Limited is pleased to announce that Brand Pretorius has been appointed as Chief Executive Officer of its combined Alexander Forbes Insurance (AFI) and Momentum Short-term Insurance (MSTI) businesses.
This is the next step in the growth journey for the Group, following the strategic acquisition of the AFI business. A task team consisting of Momentum Metropolitan senior executives and board members was established to undertake the appointment process with the shortlisted candidates for the role.
Pretorius is an experienced leader with a well-established track record as the CEO of Momentum Short-term Insurance (MSTI), a position he has held for over 12 years. He is also a non-executive director of a number of businesses in the Momentum Metropolitan Group.
“Brand has been instrumental in defining and driving the growth of the short-term insurance business and has consistently demonstrated efficient and decisive leadership. I am delighted that he has agreed to take on the reigns of the combined business,” says Herman Schoeman, CEO of Momentum Metropolitan’s non-life insurance portfolio.
Prior to joining Momentum, Pretorius served on the executive committee of another short-term insurer and was a management consultant at one of the Big-Four consulting firms. He also has experience in large business process re-engineering and systems implementation projects with a focus on change management, organisation design and leadership development.
Commenting on his appointment, Brand Pretorius said: “I’m truly honoured to be part of an amazing business and to work with exceptionally talented people. I’m looking forward to successfully implement our strategic growth ambition and to establish Momentum as a leading and meaningful player in the short-term insurance industry.”
“We are excited to harness the areas of expertise that will be brought together by the combined entity. This will help us deliver an enhanced customer and adviser experience and a broader range of differentiated products for policy holders to choose from,” Pretorius adds.
Schoeman says that he is in discussion with Rudi Schmidt, the outgoing CEO of the AFI business, to remain an executive director of the two short-term insurance companies and part of the leadership team of the combined business to continue to play a key role in the transition, as well as the strategic positioning of the combined business. “Rudi is also engaging with other business unit leaders in the wider Momentum Metropolitan group who have shown interest in his skills set,” says Schoeman.
The next steps in realising the strength and synergies between the two businesses include integrating operations where appropriate and enhancing product offerings, which once concluded, will trade under the Momentum brand, using one insurance license.
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