Old Mutual Insure has appointed Soul Abraham as chief executive designate, positioning him to succeed Charles Nortje when the current leader retires in April 2026, according to a regulatory filing released via the Stock Exchange News Service as reported by BusinessLIVE on 13 November 2025. Abraham, who will assume the transitional role from 1 January 2026 pending regulatory clearance, has spent the past decade within the Old Mutual group and currently heads its retail insurance division, where he recently orchestrated a notable strategic recovery.
The handover process will see Abraham working closely with Nortje until the formal transition on 1 April 2026. Nortje himself stepped into the permanent chief executive position in January 2025 after serving in an interim capacity from the previous March. His departure forms part of a broader leadership refresh at the Johannesburg-based financial services giant.
In a parallel move, parent company Old Mutual Limited has named Ranen Thakurdin as group chief risk officer, effective the same date and also subject to regulatory approval. Thakurdin will replace Richard Treagus, who retires at the end of 2025 after 36 years of service. The incoming risk head presently serves as Old Mutual’s chief accountant, a role he has held for seven years following more than a decade at rival Liberty Life.
Both executives bring strong actuarial credentials to their new positions. Abraham holds an honours degree in actuarial science from the University of the Witwatersrand alongside a postgraduate diploma in leadership from Stellenbosch Business School. Thakurdin is a qualified actuary, fellow of the Actuarial Society of South Africa, chartered financial analyst, and holds financial risk management certification plus a master of business administration.
The appointments extend to membership of the Old Mutual group executive committee, reflecting their strategic importance. Group chief executive Jurie Strydom described the selections as the outcome of a deliberate succession planning exercise, arriving at a pivotal moment as the organisation intensifies efforts to enhance customer offerings and drive sustainable growth.
Strydom expressed gratitude to the outgoing leaders, crediting Nortje and Treagus with substantial contributions that have underpinned the group’s resilience and market position. Their departures conclude long tenures marked by navigation through complex regulatory landscapes and evolving consumer demands in South Africa’s competitive insurance sector.
Industry observers note that internal promotions of this nature signal stability and depth of talent within Old Mutual, particularly valuable amid ongoing digital transformation and heightened focus on risk management across African financial services. The dual announcements come as the group continues to streamline operations following its managed separation from Nedbank and the unbundling of international assets in recent years.
With both incoming leaders already embedded in the organisation’s culture and processes, analysts anticipate minimal disruption during the transition period. Abraham’s track record in turning around the retail insurance unit—achieving improved underwriting margins and customer retention—positions him well to steer Old Mutual Insure through an increasingly tech-driven competitive environment, according to commentary in Moneyweb.
The leadership changes coincide with broader industry trends towards greater actuarial expertise at boardroom level, driven by complex solvency requirements under the Insurance Act and growing emphasis on climate-related financial disclosures. Thakurdin’s combination of technical proficiency and strategic execution experience is seen as particularly suited to overseeing enterprise-wide risk in an era of heightened cyber threats and economic volatility.
As Old Mutual sharpens its strategic focus, these appointments reinforce a commitment to continuity while injecting fresh momentum into key operational areas. The market has responded positively, with shares in the listed parent company showing modest gains in morning trade following the announcement, as covered by Fin24.