Insurance entrepreneur and founder of Steyn City Douw Steyn has died. The family confirmed this in a statement this morning.

Steyn is also the founder of Auto and General Insurance company.

Along with his friend Guiseppe Plumari, the two developed the R9-billion Steyn City residential estate north-west of Johannesburg.

In a statement, the family says Steyn built global businesses with deep-seated commitment to South Africa and its people.

Steyn is survived by his wife Carolyn, his children TJ, Louis and Tanya.