Rex Insurance Appoints Richard Hardy as Non Executive Director
Rex Insurance Limited, Nigeria’s preferred insurance company, has announced the appointment of Richard Hardy as a Non Executive Director to its Board. He will represent BlueOrchard Finance, one of the company’s strategic investors.
Welcoming a Strategic Leader
Ike Chioke, Chairman of the Board of Directors, described Hardy’s arrival as a milestone for Rex Insurance.
“I am delighted to welcome Mr. Richard Hardy to the Board of Directors at Rex Insurance. Mr. 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.”
According to Chioke, Hardy has spearheaded major initiatives in risk management, product innovation and operational excellence. As a result, his expertise will be central as Rex Insurance deepens customer centric solutions, digital adoption and market expansion.
The company has already secured the required approval from the National Insurance Commission (NAICOM). Consequently, Hardy’s leadership is expected to accelerate progress, strengthen corporate governance, sharpen competitive advantage and open new opportunities for growth.
Global Experience Meets Local Ambition
Hardy’s appointment reflects Rex Insurance’s ambition to strengthen its Nigerian operations while aligning with global best practices. His experience includes directorship roles in African insurers and innovative insurtech firms. This background is particularly aligned with Rex Insurance’s vision of becoming a digital-first, customer-focused company.
Currently, Hardy serves as Investment Director for African Private Equity at BlueOrchard Finance. In this role, he manages impact investments across the African continent. Previously, he worked as Principal at Ethos Private Equity in South Africa. There, he helped deliver landmark transactions and played a vital role in shaping strategy.
Proven Track Record in Deals and Governance
At Ethos, Hardy led commercial due diligence for Virgin Active’s $350 million rights issue. He also managed the restructuring of Neopak and contributed to the successful $450 million exit of iDwala Industrial Holdings.
Moreover, Hardy’s actuarial background developed over five years in South Africa and the United Kingdom provides a strong foundation in risk assessment and financial analysis. Therefore, his approach combines technical expertise with strategic foresight.
Driving Innovation in Insurance
At BlueOrchard, Hardy leads investments for the InsuResilience Investment Fund (IIF). Under his leadership, IIF has backed several high-impact firms. These include Vanguard Assurance in Ghana, Pula in Switzerland, Fido in Mauritius, and Naked Insurance in South Africa.
In addition, he represents IIF on the boards of portfolio companies and often chairs Audit and Risk committees. This role ensures strong governance and alignment with long-term growth strategies.
Education and Professional Background
Hardy holds an MBA from the University of Cape Town and a Bachelor of Commerce in Actuarial Science from the University of Stellenbosch. He is based in Zurich and works across BlueOrchard’s key African markets.
Rex Insurance Limited has decades of experience in Nigeria’s insurance sector. Licensed by NAICOM, the company offers a wide range of general and special risk products. With a vision of becoming the “Preferred Nigerian Insurance Company,” it aims to increase gross premium written and become a top-tier player in the next five years.
The appointment of Richard Hardy underscores Rex Insurance’s focus on growth, governance and global collaboration. With his expertise, the company is well positioned to deliver innovative products, enhance customer trust and drive long-term value for stakeholders.
About BlueOrchard Finance
BlueOrchard Finance is a global impact investment manager committed to inclusive and sustainable growth. Founded in 2001, it provides private equity, credit and sustainable infrastructure solutions to leading institutions worldwide.
