By Lehlohonolo Lehana.
Insurance mogul and property developer Douw Steyn has died, his group confirmed on Tuesday.
Steyn, who had been in poor health for years, was 72 years old.
“Steyn will 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 South Africa and its people, “read a statement issued jointly by his companies.
“In 1975, Steyn founded Steyn’s Insurance Brokers in Johannesburg. He saw the potential of a monthly policy that covered both cars as well as home contents, and promoted this type of policy via door-to-door leaflet distribution campaigns.
“After operating in South Africa for a number of years, Steyn set his sights on the US market. However, he returned to South Africa in 1985 after obtaining an insurance licence that allowed him to pioneer a global first – to sell motor insurance over the telephone. This disrupted the global insurance landscape, and resulted in the launch of Auto&General Insurance in Johannesburg, “it added.
At the time, the concept of telephonic insurance was totally unique but Steyn, through Auto&General, changed the way insurance was bought and sold and shaped the entire insurance industry.
Auto&General’s success resulted in the launch of some of South Africa’s leading financial service providers including Budget, 1st for Women, Dialdirect, 1Life and hippo.co.za. These brands are housed under the TIH umbrella.
Steyn later moved to the UK – a move that resulted in the establishment of the BGL Group, the parent company of the well-known price comparison website, Compare the Market. In 2000, the group launched Auto&General in Australia to replicate the success of its businesses in South Africa and the UK.
Steyn stepped down as executive chairman of his global business interests in 2012. Collectively, these businesses now employ over 10 000 people, who are based in over 50 offices globally.
When former President Nelson Mandela was released from prison, he found refuge in Steyn’s home in Johannesburg where he completed his autobiography, Long Walk to Freedom. Steyn’s home would later become the Saxon Hotel, Villas and Spa, which has often been named the World’s Leading Boutique Hotel.
Steyn’s passion for wildlife conservation inspired him to create Shambala Private Game Reserve in the Waterberg mountains. Mandela was given a dedicated villa at Shambala where he could work uninterrupted in peace and solitude.
Mandela counted Steyn as one of his most valued friends and Steyn referred to ‘Madiba’ as a father figure.
More recently, Steyn’s dream of building a city within a city materialised with the launch of the multi-billion-rand Steyn City, a 2000 acre residential and lifestyle estate in northern Johannesburg.
Steyn City has seen billions of rand in residential, commercial property, retail development to the tune of more than R15 billion over the years. Further development is underway at what’s regarded as one of the top luxury estates in Africa.
He leaves behind sons TJ and Louis, daughter Tanya and widow Carolyn Steyn, a music radio presenter and founder of NPO 67 Blankets for Mandela.