Rex Insurance Limited has appointed Richard Hardy, a non-executive director to the Board of the Company, representing BlueOrchard Finance, one of the strategic investors in the company.
Speaking on this appointment, Ike Chioke, chairman, Board of Directors said, “I am delighted to welcome Richard Hardy to the Board of Directors at Rex Insurance.
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 (NAICOM), and I am confident that 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.”
As Rex Insurance continues its ambitious growth journey, we will be counting on his deep 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.
Richard Hardy is a seasoned investment professional currently serving as investment director for African Private Equity at BlueOrchard Finance. In this role, he is responsible for sourcing, executing, and managing impact investments across the African continent for the Zurich-based firm.
Hardy brings a wealth of experience from his previous tenure as a principal at Ethos Private Equity, a premier investment team in South Africa. During his seven years at Ethos, he played a key role in several landmark transactions, demonstrating expertise in deal origination, financial modeling, due diligence, and portfolio company governance. His significant achievements include leading the commercial due diligence for Virgin Active’s $350 million rights issue, managing the complex restructuring of Neopak, and contributing to the successful $450 million exit of iDwala Industrial Holdings.
His actuarial background, developed over five years with firms in South Africa and the United Kingdom, provides a strong foundation in risk assessment and financial analysis, which underpins his investment approach.
At BlueOrchard, Hardy leads investments for the InsuResilience Investment Fund (IIF). He has been the driving force behind IIF’s strategic investments into innovative financial technology and insurance companies, including:
