Rex Insurance Limited has appointed Mr. Richard Hardy, as a Non-Executive Director, to the Board of the company, representing BlueOrchard Finance, one of the strategic investors in the company.
This appointment was announced in a statement issued by the firm, which also indicated that regulatory approval has been received.
Hardy is an investment professional currently serving as Investment Director for African Private Equity at BlueOrchard Finance, a global impact investment manager dedicated to fostering inclusive and sustainable growth.
Founded in 2001, the firm offers specialised investment solutions across private equity, credit, and sustainable infrastructure.
At the appointment, Rex Insurance Chairman of the Board of Directors, Mr. Ike Chioke, said, “I am delighted to welcome Mr. Hardy to the Board of Directors at Rex Insurance. Mr. Hardy brings with him an exceptional wealth of experience, most notably from his leadership roles at BlueOrchard Finance in Zurich and Ethos Private Equity in Johannesburg. He has spearheaded major initiatives in risk management, product innovation, and operational excellence, and as we continue our transformational journey, one focused on customer-centric solutions, digital adoption, and market expansion, we will rely on his seasoned insights and strategic vision.
“We have already secured the regulatory no objection approval from the National Insurance Commission, and I am confident that Mr. Hardy’s leadership will accelerate our progress. His presence on the Board will strengthen our corporate governance, sharpen our competitive edge and unlock new avenues for sustainable growth. Together, we will continue to create long-term value for our policyholders, partners and shareholders, positioning Rex Insurance at the forefront of the industry.”
Chioke added that Rex Insurance will be counting on Hardy’s understanding of the insurance sector, demonstrated through his directorship roles in major African insurers and innovative insurtech firms, which is particularly aligned with our vision for the future.
Hardy brings a wealth of experience from his previous tenure as a principal at Ethos Private Equity in South Africa to his current role. During his seven years at Ethos, he played a key role in several landmark transactions, demonstrating expertise in deal origination, financial modelling, due diligence, and portfolio company governance. His significant achievements include leading the commercial due diligence for Virgin Active’s $350m rights issue, managing the complex restructuring of Neopak, and contributing to the successful $450m exit of iDwala Industrial Holdings.
