Old Mutual Namibia has appointed Carmen Forster as Designate Managing director of its Corporate Segment, effective 1 January 2026, with her formal appointment as Managing director set to take effect on 1 April 2026.
Forster will succeed Patricia Olivier, who is scheduled to retire in May 2026 following what the company described as a long and distinguished career with Old Mutual.
Old Mutual Namibia Group chief executive officer Tassius Chigariro said the appointment reflects the group’s focus on leadership continuity and long-term growth within its corporate business.
“We are confident that Carmen’s strategic vision, industry expertise and passion for excellence will ensure continued growth and innovation for our Corporate Segment business,” Chigariro said.
Forster has more than 25 years’ experience in the financial services sector, having held senior actuarial, investment and operational leadership roles across Namibia and South Africa. Old Mutual said she has been involved in building actuarial teams, developing new products and leading business transformation initiatives.
She holds an honours degree in economic science from the University of the Witwatersrand, with majors in actuarial science and economic science, and is a fellow of the Institute and Faculty of Actuaries in the United Kingdom as well as the Actuarial Society of South Africa. She is also a Chartered Financial Analyst charterholder.
Beyond her executive roles, Forster has served as president of the Society of Actuaries of Namibia and as vice-chairperson of the Namibia Insurance Association.
Commenting on her appointment, Forster said she was honoured to take on the role and looked forward to building on the foundation established by Olivier.
“I am honoured to be entrusted with this leadership role and excited to build on the strong foundation laid by Patricia Olivier. I look forward to working with our team and clients to drive innovation, growth and positive impact,” Forster said.
Old Mutual paid tribute to Olivier, crediting her leadership with strengthening the Corporate Segment’s position and reputation in the market. The company said her retirement would mark the end of a significant chapter for the business as it transitions to new leadership in 2026.
