Hollard International (HINT), Hollard Group Insurance’s international business has taken a bold step forward in its Africa growth strategy. The successful completion of two major acquisitions – one with Global Alliance Seguros in Mozambique and another with Absa Life Botswana.
In Mozambique, Hollard Moçambique Seguros has acquired 100% of the shareholding in Global Alliance Seguros, S.A. The integration of Global Alliance Seguros is aimed at strengthening Hollard’s ability to support high-growth sectors such as energy, infrastructure, mining, and agriculture, which are key drivers of Mozambique’s economic development.
This move is set to significantly strengthen Hollard’s portfolio and diversify its existing expertise for the business to better serve businesses of all sizes, from SMEs to individual policyholders and large corporations.
In Botswana, Hollard International has completed the acquisition of Absa Life Botswana, bringing 100% of Absa Group’s shareholding in the life insurance business of Botswana into Hollard’s fold.
Both transactions form part of a broader deal with Absa Group, which includes the acquisition of Absa’s insurance businesses in Mozambique and Botswana– with general insurance operations in Mozambique trading under the Global Alliance brand.
Pravin (PK) Kalpagé, Chief Executive Officer (CEO) of Hollard International says, “Africa offers immense growth potential for insurers, driven by the rapid expansion of its economies and a vibrant, youthful population. These acquisitions will enable us to expand our offering across the continent to meet the diverse market needs, scale impact, and empower more people to create and secure better futures. This aligns with our vision to deepen our footprint across the continent and serve a broader, more diverse customer base.”
“These are more than just commercial transactions – but strategic and values-driven investments into the continent’s insurance sector,” commented Kalpagé.
As Hollard continues to grow its African footprint, its strategy is anchored in building strategic partnerships to expand access to insurance and financial services for individuals, SMEs and corporates, and in leveraging technology to drive innovation in underwriting, servicing and claims.
Sources: https://insurancebiz.co.za/
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