South African Business Mogul Douw Steyn Passes Away at 72
Douw Steyn, a renowned South African businessman and billionaire, has died at the age of 72. Steyn, who founded the BGL Insurance Group, was a close friend of the late South African statesman Nelson Mandela.
A Visionary Entrepreneur
Steyn was regarded as a “visionary” and an “exceptional entrepreneur” in South Africa. He achieved global success in the insurance industry and built a business empire that spanned seven countries.
Friendship with Nelson Mandela
Steyn first met Mandela shortly after his release from prison in 1990. The two formed a close friendship, with Steyn providing support to Mandela during his transition to freedom. Mandela even spent six months at Steyn’s home in Johannesburg, where he edited his autobiography, “Long Walk to Freedom.”
Business Legacy
Steyn’s business career began in 1975 when he founded Steyn’s Insurance Brokers. He went on to establish Auto & General, one of South Africa’s leading insurance groups, and later founded BGL Insurance in the UK. BGL is the parent company of Compare The Market, a popular price comparison website.
Philanthropy
Steyn was also known for his philanthropic efforts. His family trust donated significantly to South Africa’s Covid-19 relief efforts, supporting small businesses and providing food security for families affected by lockdown. The Steyn Foundation, established through Steyn City Properties, also supports impoverished townships.
Personal Life
Steyn is survived by his wife and three children. His death was confirmed by Steyn City Properties, the company behind the luxury golf estate he founded and developed.
