CAPE TOWN, South Africa, February 17, 2016 /PRNewswire/ --
South African insurance group, Telesure, has appointed Manny Rios as its new Group CEO with effect from February.
Telesure Group owns and operates several of South Africa's leading insurance brands and operates a multi-channel, multiple-brand approach through direct sales, broker sales, aggregators and affinity partnerships.
Manny is from Cincinnati, Ohio, USA but grew up in Kansas, and has worked throughout the States during his career. Prior to starting with Telesure, he was President and CEO of American Modern Insurance Group, a subsidiary of Munich Re, one of the world's largest insurers. Prior to this he was Chief Underwriter at USAA.
Manny brings huge experience to Telesure, having worked in both large scale and start-up environments. His unique combination of technical expertise and outstanding leadership qualities will be a great asset to Telesure. Manny will be relocating to Johannesburg.
Commenting on his appointment, Manny Rios said: "I'm delighted to be joining Telesure at such an exciting time. What attracted me was the Group's focus on wanting to find better ways to do things, its reputation for being first to market, and its strategy of using technology to make it better and easier for the customer."
Stephen Klinkert, Group Chairman, Telesure, said: 'We have spent significant time searching for a Group CEO with extremely strong credentials to take the helm and I am delighted that we have been able to attract a candidate of Manny's calibre. He will be a great addition to the Telesure leadership team and I look forward to working with him.
Notes to editors
Telesure Investment Holdings (Pty) Ltd (Telesure) was established in 1998 to house the South African interests of the Guernsey-based international financial services group, Budget Holdings Ltd.
The group owns and operates several of South Africa's leading insurance brands and stands out with its multiple-channel, multiple-brand approach through direct sales, broker sales, aggregator sales and affinity partnerships.
All of the companies in the Telesure group target different segments of the insuring public. They are geared to assess the needs of the market they service and provide products and distribution channels to best suit those needs.
Telesure is recognised as one of the most profitable short-term insurance groups in South Africa and has never made an underwriting loss in its history. No other insurance group can make such a claim, which is outstanding given the phenomena of the insurance industry's boom-and-bust underwriting cycles.