Naicker was previously chief operating officer of OUTsurance and was with the company for 18 years.
He officially assumed his CEO duties with effect from 1 January 2022 and will also serve as a member of the Santam group executive team.
Otto was a founding member of Santam-owned MiWay, which was launched 14 years ago.
MiWay has some 347 000 clients, which paid almost R1.6 billion in premiums during the six months to end-June last year, according to Santam’s latest financial results.
The company offers car, household and business insurance.
“René has played a critical role in successfully building a solid foundation for MiWay from inception. He’s been instrumental in instilling a culture of innovation, transparency, and most importantly, putting clients first and steered MiWay into a successful business over the years,” Naicker said in a statement.
