{"id":31161,"date":"2023-08-02T17:20:20","date_gmt":"2023-08-02T17:20:20","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/?p=31161"},"modified":"2023-08-02T18:04:24","modified_gmt":"2023-08-02T18:04:24","slug":"lidwala-aquisitions-united-health-insurance-health-book","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/lidwala-aquisitions-united-health-insurance-health-book","title":{"rendered":"LIDWALA AQUISITIONS UNITED HEALTH INSURANCE HEALTH BOOK"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>The acquisition by Lidwala Insurance Company Limited of United Health Insurance Limited\u2019s Health book is among six acquisitions approved by the Eswatini Competition Commission acquisitions in the last quarter of the financial year 2022\/23.<\/b><\/p>\n

The commission examines merger notifications in order to make a determination on the effects of such transactions on competition and then either gives approval without any conditions, or subject to specific conditions or prohibits the transactions based on the outcome of the analysis.<\/p>\n

This commission\u2019s function is supported by Section 35 of the Act and Competition Commission Regulations Notice, 2010 as well as internal and external merger guidelines.<\/p>\n

The total transactional value of international transactions notified and approved during the fourth quarter stood at approximately E2.2 billion, while the total transactional value for domestic transactions was an approximately 5, 3 million.<\/p>\n

The total combined annual turnover of both international and domestic transactions stood at approximately E552 453 895 896.00 in sectors including commercial property, insurance, agriculture, construction and wildlife sectors in Eswatini.<\/p>\n

As such, in this case the acquiring firm was Lidwala Insurance, a company incorporated and registered in accordance with the laws of Eswatini.<\/p>\n

Furthermore, Lidwala insurance is in the provision of short-term insurance services in the country, offering customer trade Alternative Risk Transfer Solutions (ART) for the insuring public. The insurance company is also an authorised insurer, registered with the financial services Regulatory Authority (FSRA).<\/p>\n

The target business was United Health Insurance\u2019s health book.<\/p>\n

United Health Insurance is in the business of providing health\/medical insurance and is registered with FSRA.<\/p>\n

The Competition Commission considered the products of the firms and concluded that the relevant market was the provision of health insurance in Eswatini.<\/p>\n

The transaction only related to an acquisition of an asset, the health book belonging to a failing firm.<\/p>\n

Venturing<\/p>\n

As Lidwala Insurance is venturing into a new market of health insurance, as a result the commission decided that there were no overlaps and as such the transaction was categorised as a phase one.<\/p>\n

The market shares in the relevant market and market concentration would not change as a result of the transaction. Other factors such as countervailing power and barriers to entry would not be affected by the transaction.<\/p>\n

As such the commission concluded that the transaction is not likely to result in a substantial lessening or prevention of competition in the market.<\/p>\n

Therefore, the transaction was approved without conditions.<\/p>\n

Another acquisition was by CIH Projects No. 41 (pty) ltd of 100 per cent of the shares Pamtro Investments No. 11 (Pty) Ltd as well as the remaining shares in Conlog (pty) ltd.<\/p>\n

The acquiring firm, CIH41 is a special purpose vehicle which does not have any employees or conduct any business operations and has its principal business address at Building 3, Ashlea Gardens Office Park, 180 Garsfontein Road, Pretoria, 0181, South Africa.<\/p>\n

The target firms are Conlog; Pamtro; Conlog Metering Solutions; and CIG Metering and their operations are based in Durban, South Africa at the Dube Trade Port with satellite offices in Lagos, Nigeria and Johannesburg, South Africa. Pamtro is controlled by Consolidated Infrastructure Group Limited while Conlog Metering Solutions and CIG Metering are indirectly controlled by CIG.<\/p>\n

The commission considered the products of the firms and concluded that the relevant market was the supply of smart electricity meters and ancillary services in Eswatini.<\/p>\n

The commission decided that there were no overlaps between the activities of the merging parties in the relevant market because the acquiring firm did not manufacture, supply or distribute electricity meters in Eswatini. The transaction was categorised as phase 1 because the combined market share post-merger was below 15 per cent.<\/p>\n

Post-merger, the market shares in the relevant market, market concentration, countervailing power and barriers to entry would not be affected and hence the transaction was unlikely to result in the substantial lessening of competition in the country. The transaction was approved without conditions.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. The acquisition by Lidwala Insurance Company Limited of United Health Insurance Limited\u2019s Health book is among six acquisitions approved by the Eswatini Competition Commission acquisitions in the last quarter of the financial year 2022\/23. The commission examines merger notifications in order to make a determination on the effects of such transactions on […]<\/p>\n","protected":false},"author":84,"featured_media":31160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,248,249],"class_list":["post-31161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nLIDWALA AQUISITIONS UNITED HEALTH INSURANCE HEALTH BOOK - Eswatini<\/title>\n<meta name=\"description\" content=\"The acquisition by Lidwala Insurance Company Limited of United Health Insurance Limited\u2019s Health book is among six ac ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/lidwala-aquisitions-united-health-insurance-health-book\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LIDWALA AQUISITIONS UNITED HEALTH INSURANCE HEALTH BOOK\" \/>\n<meta property=\"og:description\" content=\"The acquisition by Lidwala Insurance Company Limited of United Health Insurance Limited\u2019s Health book is among six ac ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/lidwala-aquisitions-united-health-insurance-health-book\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-02T17:20:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-02T18:04:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/08\/sm_1690974631.027269.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/lidwala-aquisitions-united-health-insurance-health-book#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/lidwala-aquisitions-united-health-insurance-health-book\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"LIDWALA AQUISITIONS UNITED HEALTH INSURANCE HEALTH BOOK\",\"datePublished\":\"2023-08-02T17:20:20+00:00\",\"dateModified\":\"2023-08-02T18:04:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/lidwala-aquisitions-united-health-insurance-health-book\"},\"wordCount\":655,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/lidwala-aquisitions-united-health-insurance-health-book#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/08\/sm_1690974631.027269.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/lidwala-aquisitions-united-health-insurance-health-book#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/lidwala-aquisitions-united-health-insurance-health-book\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/lidwala-aquisitions-united-health-insurance-health-book\",\"name\":\"LIDWALA AQUISITIONS UNITED HEALTH INSURANCE HEALTH BOOK - 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