The experienced finance expert is bringing his expertise to an insurer with a focus on ESG.
Yusuf Bodiat, a qualified CA(SA) with extensive experience in the finance industry, has been appointed as head of finance and investment of African Risk Capacity Limited (ARC Ltd). Yusuf’s impressive career spans over a decade, with notable roles at Deloitte, Lion of Africa Insurance and most recently, The Federated Employers Mutual Assurance (FEM).
“I’m attracted to ARC Ltd’s unique business model and purpose,” Yusuf says. “The company’s efforts in disaster relief, specifically in addressing droughts in Africa, resonate with me.” He adds, “ARC Ltd’s business model is very unique in that it offers parametric insurance, a non-traditional insurance product that offers pre-specified payouts based upon a trigger event.”
As head of finance and investment, Yusuf aims to build strong financial controls, and strategically plan and execute the company’s mandate. “My goal is to learn the business, identify areas for improvement, and make informed decisions to maximise strengths and address weaknesses,” he explains. He also plans to bring his industry experience and prior learnings to assist the team in strategic planning and execution.
The company’s efforts in disaster relief, specifically in addressing droughts in Africa, resonate with me.
Yusuf sees large corporations and multinationals contributing to climate-related risks as a key driver of growth and profitability for ARC Ltd. He also emphasises the importance of balance sheet management, upskilling staff and instilling a culture of integrity and big-picture thinking. “I don’t believe in micro-management, and I am generally comfortable to step back and give employees the freedom to do their job as required, as long as the desired result is achieved,” he says.
Yusuf emphasises the importance of considering the impact of decisions on all stakeholders, including shareholders, employees and customers. “I believe in big-picture thinking, always being aware of how any action or interaction impacts the company,” he says.
As he departs from his previous role as CFO at FEM, Yusuf expresses gratitude for the experience and opportunities he had to make a meaningful impact. “I’m honoured to have served FEM, and I look forward to seeing the company prosper further,” he says. “The work that FEM is involved in is truly remarkable, and I am very grateful to have been part of making a meaningful impact to our stakeholders.”
I don’t believe in micro-management, and I am generally comfortable to step back and give employees the freedom to do their job as required, as long as the desired result is achieved.
Yusuf started his career at Deloitte, where he gained experience in insurance, banking, medical aid, pension funds, private equity and parastatal industries. He later joined Lion of Africa Insurance in the role of manager: financial and regulatory reporting, and also served as the company’s acting CFO for a year.
He has been serving as an independent non-executive director on the board of Legal Expenses Insurance Southern Africa (LEZA) since February 2022.
Yusuf Bodiat began his new role as head of finance and investment of African Risk Capacity Limited on 1 July 2024.
