Friday, October 27, 2017/ 8:42 AM / NSE
CONTINENTAL REINSURANCE PLC (“the Company”) announces the appointment of Mr. Steve Murphy as a Non-Executive Director of the Company representing C-Re Holding Limited with effect from October 24, 2017 to replace Mr Raymond Farhat.
Mr Murphy holds a degree in Social Sciences from the University of South Africa. He has extensive experience in the insurance and reinsurance business which spanned 40 years, most of which was in the reinsurance sector. He joined Munich Reinsurance Company South Africa in 1973 and was involved in the marketing and development and assessment of risks offered for acceptance.
He was the Chief Executive Officer of Hanover Reinsurance Group, one of the world’s 4’h largest reinsurance group, from 1983 to 2002. He has been involved in entrepreneurial initiatives in a variety of businesses including healthcare management, IT Industry, insurance Premium financing and Underwriting Agencies and has served as a Director in a number of local businesses. Mr Murphy has also been involved in Consulting and training and has acted as consultant for Santam, South Africa’s largest insurer in seeking to develop reinsurance business out of South East Asia; the training centered on the soft and hard skills of leadership, strategic thinking and negotiation.
As the Chief Executive Officer of Hanover Reinsurance, Africa, he led the company from being the second smallest in South Africa to become one of the largest reinsurance companies on the continent. Mr Murphy has served on several Boards including being a nominee director for international Finance Corporation in the Corporation’s investment in Green Delta Insurance- Bangladesh; Chairman of Chemunique, Johannesburg, and Chairman of Direct Line Assurance Company Limited, Kenya.