Santam, SA’s largest short-term insurer, announced a raft of board changes on Wednesday that included the retirement of CEO Lizé Lambrechts, who plans to step down in 2022.

Lambrechts, who joined Santam in January 2015, previously worked at Sanlam, the parent company of Santam, and led the company through one of its most difficult years in 2020. Santam was forced to raise its provisions last year to deal with a slew of contingent business interruption claims from clients affected by Covid-19. ..

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