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Jul 2003 Steffan Gilbert is leaving his position as Chief Executive at Munich Reinsurance Company of Africa, a subsidiary of Munich Re, to replace John Van Zyl at the head of the Santam property insurance company. Gilbert will take office on July 14th, date on which Santam, that holds 54.1% of Santam, will start its reorganization around 4 poles: life insurance (Santam life), property insurance (Santam Investment Management, Santam links trusts and Innofin) and banking (Gensec Bank and Absa).