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FMI appoints first female CEO



Durban. Monday, 27 September 2021 – Life insurer FMI, a division of Bidvest Life, has appointed experienced financial services industry leader Lulu Rasebotsa as its new chief executive, effective 6 October 2021.

“After a rigorous selection process, we’re delighted to welcome Lulu on board to head FMI. Her vision for the industry and extensive experience across the financial services sector make her ideally suited to lead and build the long-term growth and sustainability of FMI in the market,” said Hannah Sadiki, chief executive at Bidvest Financial Services.

“The appointment demonstrates the company’s commitment to driving a strong transformation agenda across Bidvest and the broader industry,” says Sadiki.

Rasebotsa takes over the reins from chief financial officer, Neil Wolno, who has been acting in the position since April 2020. “I’m excited to welcome Lulu to the FMI management team. Having someone with her strong knowledge and background in financial services will take FMI to greater heights, and we look forward to working with her as an executive team,” said Wolno.

Rasebotsa joins FMI from Liberty Life Botswana, where she was managing director for the past 10 years. She has more than 25 years’ experience in the financial services industry, including time in underwriting, and has steered diverse financial services businesses in both the Botswana and South African markets.

“I believe FMI has a unique place in the South African life insurance sector. I look forward to working closely with the team and our partners to take the business forward and realise FMI’s vision of being the leading provider of income protection in the country,” said Rasebotsa.

Rasebotsa sits on the Board of the Sir Ketumile Masire Foundation and the Industrial Advisory Board of the Department of Mathematics and Statistical Sciences at the Botswana International University of Science & Technology (BIUST). Beyond financial services, Rasebotsa is passionate about entrepreneurship and mentoring young women.

She holds a BSc Honours in Mathematics & Statistics from the University of Kent and has a COP in Life Insurance and an ICiBS (both from the Insurance Institute of South Africa).