Douw Steyn, South African Tycoon And Friend Of Mandela, Dies At 72

South African business is poorer this week for the passing of larger-than-life billionaire and philanthropist Douw Steyn, whose eye for the limelight was as bright as his once flame-red hair. He died on February 4, aged 72, after a life of building companies, lavish parties, and interactions with Nelson Mandela, Oprah Winfrey and Michael Jackson.

Steyn may have been secretive about his private life, but was never afraid to splash out in public. He spent his working life carving out an international name in the insurance business with the massive companies he founded - Auto General and BGL Insurance.

He always had an eye on the future and was among the first to modernise his insurance business with call centres and telesales. Another innovation was monthly policies covering both home and car, which proved hugely successful.

When it was time to expand into the UK, Australia and Turkey, Steyn's operations delivered on their multi-national potential.

"Douw was a leading visionary and exceptional businessman with skills unmatched today," says Neil Gopul, the CEO of the South African Property Owners Association.