Yusuf Bodiat steps down as FEM CFO


FEM CFO Yusuf Bodiat has resigned and will step down later this year, when he takes up a new opportunity at another insurer.

Yusuf Bodiat will be leaving his role as CFO of The Federated Employers Mutual Assurance Company (FEM) at the end of June.

“My decision to leave FEM was definitely not an easy one, given the impactful work that FEM is involved in. However, I needed to weigh this up against the opportunity for me to further my own personal growth and ambitions,” he says.

Yusuf has been the CFO at FEM since February 2019, and was nominated for the 2022 CFO Awards for his achievements in the role. He was also a finalist in SAICA’s top 35 under 35 competition in 2021.

He explains there are several achievements he celebrates from his time in the role. Seeing the company achieve the R1 billion premium income milestone for the first time in its 87-year history is one of them.

Yusuf is also proud of the professional relationships he built during his tenure at FEM, and believes many of these relationships will continue into the future.

“I am most proud to have been part of an organisation that actively looks for ways to make a meaningful difference and positive impact in everything it does, and I have grown as an individual because of this,” he adds.

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Yusuf will start a new role in July at another insurer. He says that, as much as he is sad to be leaving FEM, he is also very excited about the opportunity that he will be pursuing.

Yusuf is a qualified CA(SA) and 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.

FEM is currently recruiting for Yusuf’s replacement.

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