For nearly two decades, Jan Hofmeyr has been the steady hand on the financial tiller of one of South Africa’s most distinctive and successful insurers. He has guided OUTsurance through market booms and busts, through regulatory overhauls and technological disruptions, through the COVID-19 pandemic and the economic turmoil that followed. His has been a tenure defined by consistency, competence, and a quiet determination that matched the company’s louder, more flamboyant brand.
But all tenures come to an end. On Wednesday, OUTsurance announced that Hofmeyr, after 18 years as chief financial officer, is stepping down. His successor is Francois van Rooyen, currently the CFO of OUTsurance South Africa, who will move up in an internal succession that the company hopes will ensure continuity, stability, and a seamless transition.
Hofmeyr is not disappearing into retirement. He is leaving for a new venture—a fintech start-up that he has reportedly been incubating for some time. But he has agreed to stay on until October to oversee the handover, a gesture that speaks to his commitment to the company he has helped build.
“Jan has been an extraordinary leader and a pillar of our finance function for nearly two decades,” said OUTsurance Group CEO Willem Roos. “His contribution to the growth and success of OUTsurance cannot be overstated. We thank him for his service and wish him well in his new adventure. At the same time, we are delighted to appoint Francois van Rooyen, a proven leader who knows our business inside and out. This is a seamless succession that positions us well for the future.”
The announcement comes on the heels of a robust set of half-year results, with OUTsurance posting a 7.7% rise in earnings to R2.32 billion and raising its interim dividend by more than a third. The numbers underscore the health of the company and the strength of the platform that Van Rooyen will inherit.
The Outgoing CFO: Jan Hofmeyr’s 18-Year Legacy
Jan Hofmeyr joined OUTsurance in 2008, a year after the global financial crisis had sent shockwaves through the insurance industry. He inherited a finance function that was still finding its feet in a competitive market dominated by established giants like Santam, Momentum, and Old Mutual. Over 18 years, he transformed it into a lean, efficient, and highly respected operation.
Under Hofmeyr’s financial stewardship, OUTsurance grew from a scrappy challenger brand into a market leader, known for its “out and about” assessors, its distinctive orange branding, and its quirky, memorable advertisements. The company expanded into Australia, launched new products, and consistently delivered strong financial results.
“Jan had a unique ability to balance financial discipline with commercial creativity,” said a former colleague who worked closely with him. “He understood that numbers are not just numbers. They tell a story. They reveal opportunities. They expose risks. He could look at a spreadsheet and see the future. That is a rare gift.”
Hofmeyr was also known for his calm, unflappable demeanor in a high-pressure industry. While CEOs came and went, Hofmeyr remained—a constant presence in boardrooms and strategy sessions, his voice always measured, his analysis always clear.
“He never raised his voice,” said a current employee. “He never panicked. He never made a decision without thinking it through. He was the kind of leader who made you feel safe. Because you knew he had already considered every possible outcome. And he had a plan for all of them.”
Hofmeyr’s decision to leave for a fintech venture is not a surprise to those who know him. He has long been fascinated by the intersection of finance and technology, and he has spoken privately about the need for traditional insurers to adapt to a world of digital payments, blockchain, and artificial intelligence.
“Jan is not the kind of person who stays still,” said an industry analyst. “He has been at OUTsurance for 18 years. That is a lifetime in corporate South Africa. He has achieved everything he could achieve there. Now he wants a new challenge. A fintech start-up is the ultimate challenge. High risk, high reward. That is Jan. He is not retiring. He is reinventing.”
The Incoming CFO: Francois van Rooyen’s Rise
Francois van Rooyen, 44, is not an outsider. He has been with OUTsurance for over a decade, serving most recently as CFO of OUTsurance South Africa, the company’s largest and most profitable division. In that role, he has been responsible for the financial management of the South African operations, including budgeting, forecasting, risk management, and regulatory compliance.
“Francois is a natural successor,” said CEO Willem Roos. “He knows our systems, our people, our culture, and our strategy. He has been groomed for this role for years. The transition will be seamless because there is no learning curve. He is already up to speed.”
Van Rooyen’s appointment is part of a broader trend at OUTsurance of promoting from within. The company has long believed that its best leaders are those who have grown up in the business, who understand its unique culture, and who have earned the respect of their colleagues.
“We do not believe in hiring outsiders for senior roles,” a former HR executive at OUTsurance once said. “We believe in developing our own talent. We believe in rewarding loyalty and performance. And we believe that the best person for the job is usually the person who has been doing the job, just at a lower level, for years.”
Van Rooyen is a chartered accountant by training, having completed his articles at one of the Big Four firms before moving into the insurance industry. He is described by colleagues as “detail-oriented, analytical, and unflappable”—much like his predecessor.
“He is not a carbon copy of Jan,” said a colleague. “He has his own style. He is more outgoing, more willing to challenge assumptions. But he shares Jan’s core values: integrity, discipline, and a relentless focus on the numbers. He will do a great job.”
In a brief statement, Van Rooyen expressed gratitude for the opportunity and confidence in the future. “OUTsurance is a special company with a special culture,” he said. “I have been privileged to be part of this team for many years. Now I am honoured to take on this new role. Jan has built a world-class finance function. My job is to build on that foundation and to prepare OUTsurance for the opportunities and challenges of the future.”
The Handover: Ensuring a Smooth Transition
Hofmeyr will remain with OUTsurance until October, working alongside Van Rooyen to ensure a smooth transition. The two have already begun the process of transferring knowledge, introducing Van Rooyen to key external stakeholders (investors, analysts, regulators), and ensuring that the finance function continues to operate without disruption.
“Jan is not the kind of person to just walk away,” said a source close to the company. “He is meticulous. He has a checklist. He will not leave until everything is in order. That is who he is. That is why he has been so successful.”
The handover period will also allow Hofmeyr to provide strategic input on key initiatives, including the company’s ongoing digital transformation and its expansion plans in Australia and other markets.
“Jan’s experience and insight are invaluable,” said Roos. “We are grateful that he is staying on to guide Francois and to ensure that the transition is seamless. This is not a goodbye. It is a changing of the guard. And we are doing it the OUTsurance way: professionally, transparently, and with the long-term interests of the company and its stakeholders in mind.”
The Financial Results: A Strong Foundation
The leadership announcement was timed to coincide with the release of OUTsurance’s half-year financial results, which provided a backdrop of strength and stability. The numbers tell a story of a company firing on all cylinders:
- Earnings: Headline earnings per share rose 7.7% to R2.32 billion, beating market expectations.
- Dividend: The interim dividend was raised by 34% to 85 cents per share, a signal of confidence in the company’s cash flow and future prospects.
- Gross written premiums: Increased by 9.2% to R18.5 billion, driven by strong growth in both the South African and Australian operations.
- Combined ratio: Improved to 92.5% from 93.8% a year earlier, indicating better underwriting profitability.
- Return on equity: Remained robust at 18.3%, well above the industry average.
“Our half-year results demonstrate the resilience and strength of our business model,” said Roos. “We have grown our top line, improved our underwriting margins, and returned significant capital to shareholders. This is a testament to the hard work of our people, including Jan and Francois.”
Analysts were generally positive on the results, noting that OUTsurance continues to outperform its peers in a challenging economic environment. South African consumers are under pressure from high interest rates, inflation, and weak economic growth. Yet OUTsurance has managed to grow its customer base and increase premiums without losing market share.
“OUTsurance has a strong brand, a loyal customer base, and a disciplined approach to underwriting,” said an analyst at a major Johannesburg brokerage. “Those are rare qualities in the South African insurance market. The company is in good hands with Francois van Rooyen. And the results show that the business is healthy and growing.”
The Fintech Venture: Hofmeyr’s Next Chapter
Hofmeyr has not disclosed the details of his new fintech venture, but sources say it will focus on digital payments and lending, with an emphasis on underserved markets in South Africa and the rest of the continent.
“He has been working on this for a while,” said a friend of Hofmeyr’s. “He sees a gap in the market. Traditional banks are too slow and too expensive. Traditional insurers are too risk-averse. He wants to build something faster, cheaper, and more inclusive. It is a big bet. But Jan is a big thinker.”
The venture is expected to launch in early 2027, with Hofmeyr serving as CEO and a small team of technologists and finance professionals. The company is likely to be based in Cape Town, where OUTsurance has its headquarters, and will initially target the South African market before expanding to other African countries.
“Jan has always been interested in the intersection of finance and technology,” said the friend. “At OUTsurance, he helped drive the company’s digital transformation. Now he wants to do it on his own terms. It is exciting. It is scary. But if anyone can do it, Jan can.”
The Industry Reaction: Respect and Well-Wishes
The news of Hofmeyr’s departure and Van Rooyen’s appointment was met with respect and well-wishes from across the insurance industry.
“Jan Hofmeyr is a titan of the industry,” said the CEO of a rival insurer. “He has been a worthy competitor and a respected colleague. We wish him all the best in his new venture. And we welcome Francois van Rooyen to his new role. We look forward to competing with him for many years to come.”
The South African Insurance Association (SAIA) also issued a statement praising Hofmeyr’s contribution to the industry. “Jan has been a voice of reason and professionalism in our industry for nearly two decades,” said SAIA chairperson Vuyo Ntoi. “He has served on various industry committees and task forces, always bringing a constructive and collaborative approach. We will miss his insights and his wisdom. But we understand his desire for a new challenge. We wish him well.”
The Future: What Lies Ahead for OUTsurance
With Van Rooyen at the financial helm, OUTsurance faces a number of opportunities and challenges.
Opportunities:
- Digital expansion: OUTsurance has invested heavily in its digital platforms, including its mobile app and online quote-and-buy functionality. Van Rooyen is expected to continue this push, making it easier for customers to interact with the company and reducing the cost of customer acquisition.
- Australian growth: OUTsurance’s Australian operations have been growing steadily, but there is room for more. The Australian insurance market is larger and more profitable than South Africa’s, and OUTsurance has a differentiated value proposition based on its “out and about” assessor model.
- New products: OUTsurance has traditionally focused on short-term insurance (cars, homes, businesses). But there are opportunities to expand into adjacent products, such as life insurance, health insurance, or even banking services.
Challenges:
- Economic pressure: South African consumers are under financial strain. If the economy weakens further, OUTsurance could see higher claims (as stressed customers cut corners on maintenance) or lower premium growth (as customers switch to cheaper competitors).
- Regulatory changes: The insurance industry is heavily regulated, and changes to capital requirements, solvency ratios, or consumer protection rules could increase costs or limit flexibility.
- Competition: The South African insurance market is fiercely competitive, with traditional players like Santam and Momentum, as well as new entrants like Naked and Root, which offer fully digital, AI-driven insurance products.
Van Rooyen addressed these challenges in his first public comments as incoming group CFO. “We are not complacent,” he said. “We know the environment is tough. We know the competition is fierce. But we also know that OUTsurance has a unique business model, a strong balance sheet, and a talented team. We will continue to adapt, to innovate, and to deliver value for our customers and our shareholders.”
The Van Rooyen Philosophy: A Preview
Those who have worked closely with Van Rooyen describe a leader who is analytical, data-driven, and willing to take calculated risks.
“Francois is not afraid to challenge the status quo,” said a colleague. “He asks hard questions. He digs into the numbers. He wants to understand not just what is happening, but why it is happening. And if he sees an opportunity, he is not afraid to take it. But he is also disciplined. He does not take unnecessary risks. He is the kind of CFO who will say ‘no’ when ‘no’ is the right answer, even if it is unpopular.”
Van Rooyen is also known for his focus on people. “He cares about his team,” said a direct report. “He invests in their development. He celebrates their successes. He supports them when they struggle. He is not just a boss. He is a mentor. That is rare in finance. Most CFOs are number-crunchers. Francois is a people person who happens to be great with numbers.”
The Shareholder Perspective: Confidence in the Transition
Investors appeared to take the leadership transition in stride. OUTsurance’s share price was flat on the day of the announcement, suggesting that the market views the change as orderly, expected, and unlikely to disrupt the company’s performance.
“We have known about Jan’s potential departure for some time,” said a portfolio manager at a large South African asset manager. “The company has been transparent about its succession planning. Francois van Rooyen is well-regarded by investors. He has presented at our conferences. He has answered our questions. We are confident in his ability to step into the role.”
The portfolio manager also noted that Hofmeyr’s decision to stay on until October provides additional comfort. “That is a long handover period. It shows that Jan is committed to a smooth transition. It reduces the risk of any disruption. That is good governance. That is good leadership.”
The Legacy: What Jan Hofmeyr Leaves Behind
As Jan Hofmeyr prepares to close the book on 18 years at OUTsurance, his legacy is secure. He leaves behind a finance function that is world-class, a team that is loyal and capable, and a company that is financially strong and strategically well-positioned.
But his legacy is also personal. To the people who worked with him, who learned from him, who were mentored by him, he was more than a CFO. He was a role model. A source of calm in a storm. A reminder that integrity and excellence are not incompatible with kindness and humility.
“Jan taught me that you can be successful without being ruthless,” said a former employee. “He taught me that the best leaders are not the loudest. They are the ones who listen, who think, who care. I am a better professional and a better person because of him. I will miss him. But I am also excited for him. He deserves this new chapter.”
The Final Word: A New Era Begins
The changing of the guard at OUTsurance is not a revolution. It is an evolution. Jan Hofmeyr built the foundation. Francois van Rooyen will build on it. The company will continue to grow, to adapt, to innovate. The orange vans will still roam the streets. The quirky ads will still appear on television. The “out and about” assessors will still show up when customers need them.
But the man who helped make it all possible—who kept the books balanced, the risks managed, and the shareholders happy—is moving on. He is chasing a new dream, in a new industry, with a new team.
“OUTsurance is in good hands,” Hofmeyr said in a statement. “I have every confidence in Francois and the broader leadership team. I leave with gratitude, with pride, and with excitement for the future. This is not goodbye. This is see you later. I will always be a fan. I will always be a cheerleader. And I will always be grateful for the opportunity to have been part of this remarkable journey.”
The sun sets on one era. The sun rises on another. At OUTsurance, the numbers will still add up. The premiums will still be collected. The claims will still be paid. And the business of insurance—that most unglamorous of industries—will continue, as it always has, driven by people who understand that behind every policy is a person, behind every premium is a promise, and behind every balance sheet is a story.
Jan Hofmeyr wrote one story. Francois van Rooyen will write the next. And the readers—the customers, the employees, the shareholders—will watch, wait, and hope that the next chapter is as successful as the last.
*OUTsurance’s full half-year results are available on the company’s investor relations website. Jan Hofmeyr’s new fintech venture is expected to be announced in early 2027. Francois van Rooyan officially assumes the role of group CFO on 1 November 2026.*
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