Insurtech investor Envest has recruited Hollard Commercial Insurance (HCi) CEO Richard Heilig to help expand its insurance business.

He will take up the newly created Chief Commercial Officer role on July 1, a spokesman told insuranceNEWS.com.au.

Envest calls his recruitment a “major coup” for the business as it looks to build on its presence in the industry, where it has made significant investments in insurtechs and holds an interest in a group of 11 brokers operating under the Aviso Group brand.

“In the next 6-12 months, Envest will be actively looking to increase our investment in entrepreneurial, future-focused insurance businesses and grow our insurance distribution network,” Envest MD Greg Mullins said. [His] experience and commercial acumen will help us achieve this.

“We’ve worked closely together on a number of other businesses in the Envest portfolio that started out as Hollard partners, so [he] has a very good understanding and appreciation of what we do.”

Hollard Insurance CEO Richard Enthoven says Mr Heilig is leaving his company “on the best of terms” after many years with the business.

Mr Heilig joined Hollard Insurance Group in South Africa in 1998 and relocated to Australia in 2008, according to the insurer’s website. He has worked in a number of senior roles across the organisation including as head of Hollard Business Partners and COO.

Mr Enthoven says the new HCi CEO will be recruited internally, with CFO Jack Joubert filling the role on an interim basis.

The arrangement is “consistent with Hollard’s preference for prioritising internal promotions,” he told insuranceNEWS.com.au.

“[Mr Joubert] is a qualified actuary and has held a number of leadership positions in the Hollard Group and has, most recently, served as the CFO of HCi. He is therefore intimately familiar with the HCi business.”