Insurance tycoon and property developer douw Steyn dies at 72
Douw Steyn, a South African insurance tycoon and luxury property-estate developer, died at 72.
The founder of local insurer Auto & General and the UK’s BGL Group also set up Steyn City, a private residential estate on Johannesburg’s northern outskirts that’s four times the size of Monaco.
Telesure Investment Holdings, which owns Steyn’s insurance brands including Budget, 1st for Women, Dialdirect and hippo.co.za, disclosed his death in an emailed statement Tuesday.
Nelson Mandela, the anti-apartheid activist who became the country’s first Black president, broke ground at Steyn City in 2007. He stayed at the tycoon’s former Johannesburg house when freed after 27 years in prison, and worked on his autobiography as well as the nation’s first democratic constitution there, Telesure said.
Steyn is survived by his wife, Carolyn, his three children and their families.
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