Seasoned CFO and long-standing GENRIC leader steps up to the helm, succeeding co-founder MC du Toit after two decades of entrepreneurial leadership

Werner Strydom has been appointed Chief Executive Officer of GENRIC Insurance Company, effective 1 May 2026, subject to the necessary regulatory notifications and approvals. Werner succeeds MC du Toit, who co-founded GENRIC 20 years ago and has steered the business through two decades of growth, innovation, and transformation in the South African insurance landscape.

As co-founder and driving force behind GENRIC, MC du Toit built the business from the ground up - cementing its reputation as one of South Africa’s foremost niche and specialist insurers. Under his leadership, GENRIC successfully navigated a hardening global reinsurance environment, underwent a strategic portfolio transformation and culminated in the 100% acquisition by Old Mutual in January 2023. His entrepreneurial vision and commitment to excellence have left an indelible mark on the business and the broader industry.

Werner Strydom’s appointment as CEO is the culmination of a career defined by deep institutional knowledge, financial discipline and an unwavering commitment to GENRIC’s mission. He joined the company in February 2010 as an accountant and has grown with the business through roles including Risk Officer, before being appointed Chief Financial Officer in 2015. As CFO, Werner has served as the custodian of the group’s financial health, playing an instrumental role in shaping its strategic direction and resilience.

His appointment as CEO reflects GENRIC’s longstanding philosophy of recognising and developing top talent from within - a cornerstone of the company’s entrepreneurial culture.

“I am honoured to take on the role of CEO and to build on the exceptional foundation that MC and our team have established. GENRIC has always been about bold thinking, agility, and delivering meaningful, specialised risk solutions for our partners and clients. That’s not going to change, if anything, we will accelerate it,” said Werner Strydom, CEO of GENRIC Insurance Company.

Entrepreneurial Roots, Expanded Ambition

GENRIC’s appointment of an internal candidate as CEO is a deliberate statement of intent. The business has always thrived on developing people who understand its culture of innovation, calculated risk-taking and client-centricity.

Since its acquisition by Old Mutual in 2023, GENRIC continues to operate as a standalone niche insurer, preserving the agility and entrepreneurial spirit that have defined it, while leveraging the scale and resources of one of Africa’s most trusted financial services brands, Old Mutual. GENRIC is well-positioned to pursue significant opportunities in high-growth areas including health and accident insurance, Insurtech partnerships, and specialised UMA solutions.

As GENRIC marks its 20th anniversary, the leadership transition signals not just continuity, but renewed momentum, anchored in the values and vision that have made the business a recognised force in South Africa’s insurance sector.

“After 20 years at the helm, I am immensely proud of what we have built at GENRIC. Werner is the right person to lead the business into its next chapter. He knows GENRIC inside out, shares our values and has the strategic vision to take the business further. I look forward to watching him and the team write the next great chapter of this story,” said MC du Toit, Co-Founder and outgoing CEO of GENRIC Insurance Company.