Otto takes over at Channel Life

René Otto who was appointed as CEO of listed PSG subsidiary, Channel Life, took over officially from 1 September, replacing Leon de Wit, who takes over as chairman of the board.

Otto, who is best known for his conceptualisation, strategic development, launch and stewardship of OUTsurance into a leading short-term insurance company, was hand-picked to take Channel Life into the next stage of its development, says outgoing CEO, De Wit.

Otto, a lawyer by profession, has wide ranging business experience garnered in the short-term and IT sectors. He prefers a business approach instead of an industry specific approach, and consequently does not see the life insurance industry as widely different from the short-term industry.

He believes that the life industry may well be ready for a shake-up following some bad performances of late.