Renowned South African business leader Douw Steyn passes away at 72, leaving behind a legacy of innovation and philanthropy.
Douw Steyn, the visionary South African billionaire businessman, has passed away at the age of 72 after a prolonged period of ill health. He leaves behind his wife, Carolyn Steyn , a prominent radio presenter and philanthropist, along with three children.
A Life of Purpose
Steyn’s significant contributions to the insurance and property development sectors have left an indelible mark on both South Africa and the UK. His entrepreneurial journey began in Johannesburg in 1975 when he founded ‘Steyn’s Insurance Brokers’ , introducing a monthly policy that covered both cars and home contents.
Pioneering Innovations
In 1985, Steyn launched Auto & General Insurance, which was pioneering in offering motor insurance over the phone. This disruptive model not only changed how insurance was sold but also paved the way for several other successful financial service brands under the ‘TIH‘ umbrella, including ‘Budget‘ and ‘1Life’.
Global Expansion
In 1992, Steyn expanded his horizons by establishing BGL Group in the ‘UK’, which became known for its price comparison website, ‘ComparetheMarket.com‘ . Under his leadership, ‘BGL’ grew into a global enterprise operating across seven countries and employing more than 10,000 people. His strategic vision led to the successful launch of ‘Auto & General’ in ‘Australia’ in 2000.
A Lasting Legacy
Steyn’s influence extended far beyond the business world. He was closely linked to South African politics and had a profound impact on the country’s history. His friendship with ‘Nelson Mandela‘ was particularly significant, with ‘Mandela finding refuge in Steyn’s home in Johannesburg after his release from prison’.
South Africa is a parliamentary representative democratic republic, with a multi-party system.
The country has a complex history of apartheid, which led to the establishment of the current government structure.
The African National Congress (ANC) has been the dominant party since 1994, with President Cyril Ramaphosa serving as its leader.
The country's politics are also influenced by various ethnic and regional groups, such as the Inkatha Freedom Party and the Economic Freedom Fighters.
According to a 2020 survey, 64% of South Africans trust their government, while 21% do not.
Philanthropy and Conservation
In addition to his business ventures, Steyn was deeply committed to philanthropy. Through the Douw Steyn Family Trust, he pledged R370-million towards coronavirus relief efforts in ‘South Africa’ during the pandemic. His charitable contributions included substantial donations to feeding schemes and support for small businesses affected by Covid-19.
The Steyn City Legacy
Steyn’s most ambitious project was ‘Steyn City’, a sprawling 2,000-acre residential estate in northern ‘Johannesburg’ designed to create a self-sustaining community. Besides luxurious living spaces it also focused on job creation – more than 28,000 jobs were generated during the construction phase alone.
A Tribute to Douw Steyn
Steyn’s life was characterised by his unwavering commitment to ‘South Africa’, while his remarkable achievements in insurance and property development have solidified his status as a leading business figure. His passing is a significant loss to the business community and beyond, but his legacy will continue to inspire future generations.
