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The late Douw Steyn and his wife, Carolyn. Picture: INSTAGRAM/CAROLYN STEYN
The late Douw Steyn and his wife, Carolyn. Picture: INSTAGRAM/CAROLYN STEYN

Remembered as “truly extraordinary”, “larger than life character, and “exceptional entrepreneur”, insurance magnate Douw Steyn’s legacy is deeply engraved in the annals of SA business history and the hearts of countless communities touched by his philanthropic endeavours.

His death on Tuesday after a prolonged period of poor health, aged 72 years old, triggered a flood of emotions. In a statement announcing his death, Giuseppe Plumari, the deputy chair of Steyn City Properties, praised Steyn for his visionary leadership and “deep-seated contribution to SA and its people”.

“Douw will always be remembered as an exceptional entrepreneur who built a global business of immense scale across seven countries, and a visionary with a deep-seated commitment to SA and its people,” said Plumari.

Born in 1952 in Brits, the North West, Steyn began his entrepreneurial journey in 1975 when he founded Steyn’s Insurance Brokers.

A decade later, he revolutionised the industry with the launch of Auto & General, which pioneered the telemarketing sales approach and paperless insurance.

Douw will be remembered as an exceptional entrepreneur who built a global business of immense scale in seven countries and a visionary with a deep-seated commitment to SA and its people.

Initially, he saw the potential of a monthly policy that covered cars as well as home contents and promoted this type of policy through door-to-door leaflet distribution campaigns.

This success resulted in the launch of some of SA’s leading financial service providers including Budget, 1st for Women, Dialdirect, 1Life and Hippo, which are housed under the TIH umbrella.

He would replicate the same business model in the UK, where he founded Budget Group, which later became known as BGL Group, in the early 1990s.

In the mid-2010s, he launched and oversaw the development of Steyn City Properties, a luxurious estate that aimed to create a self-sustaining city within a city.

“Douw will be remembered as an exceptional entrepreneur who built a global business of immense scale in seven countries and a visionary with a deep-seated commitment to SA and its people,” Auto & General and Steyn City Properties, said in a joint statement.

Asked by BizNews in 2014 why he named the estate after his family name, he once chuckled and responded: “Did anyone ever ask Donald Trump why he called his building in New York City Trump Tower?”

Steyn stepped down as executive chair of his global business interests in 2012. Collectively, those businesses now employ more than 10,000 people who are based in more than 50 offices globally.

Nelson Mandela

Steyn famously lent his former Saxonwold home in Joburg, now a luxury hotel called The Saxon, to Nelson Mandela for six months after the late statesman’s release from prison in 1990. Madiba also went on retreats to a private villa built for him by Steyn at the Shambala Private Game Reserve in Limpopo.

Mandela counted Steyn as a good friend while Steyn referred to Madiba as a father figure. In 2005, Mandela paid tribute to Steyn as “not only a great businessman and visionary but one of SA’s most successful entrepreneurs who enriched the country with his business skills and who believed in its future as a country of opportunity”.

In a statement, the Nelson Mandela Foundation expressed sorrow at the news of Steyn’s passing.

“Douw was a larger-than-life character, someone Madiba regarded as a friend. He supported Madiba in numerous ways over many years,” the foundation said.

“During 1992, Madiba lived in Douw’s home as he navigated his way through a very painful separation from Winnie Madikizela-Mandela. And over the next two decades, Madiba frequently turned to Douw when he needed spaces for retreat or support for his projects. The foundation will always honour the memory of their relationship.”

The DA praised his generosity. “His generous contributions to the nation, particularly during the Covid-19 pandemic, are a testament to his desire to give back and to make a positive difference,” the party said in a statement.

Steyn was also a dedicated philanthropist, weaving his altruism in the Steyn City projects, one of his biggest business gambles. His dream for the expansive project was not only to build a 800ha luxurious estate but to also give back to surrounding communities.

The neighbouring communities of Diepsloot and Cosmo City have benefited from various philanthropic pursuits through the Douw Steyn Family Trust and the companies he founded. 

In 2020, they also pledged R370m to assist Covid-19 relief efforts of which R50m went towards the National Solidarity Fund, R250m to support feeding schemes in Diepsloot, Cosmo City and beyond and a relief fund of up to R70m to support small businesses.

Steyn is survived by his wife, Carolyn, sons, TJ and Louis, daughter, Tanya, and his legacy of innovation and generosity. 

Update: February 4 2025
This story has been updated with more information and comment. 

With TimesLIVE

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