Africa-Press – Mozambique. In an exciting development for the national insurance market, Hollard Moçambique Companhia de Seguros (Hollard Seguros), a subsidiary of the insurance group Hollard, based in South Africa, will acquire the client portfolio of ICE (International Commercial and Engineering) Seguros, SA, an action that is still subject to approval by the Regulatory and Competition Authority and by the Insurance Supervision Institute of Mozambique.
In practice, ICE Insurance will transfer its business to Hollard Seguros. The move is aimed at creating a preferred insurer that can operate on a larger scale and compete effectively in the Mozambican insurance market.
Hollard Seguros CEO Henri Mittermayer said: “This transaction will increase our presence in Mozambique, as well as further enhance our commitment to the Mozambican insurance market. We have been in the national market for over twenty years and we firmly believe that the change will be beneficial to our customers, partners and shareholders of Hollard Seguros, as well as to the financial scenario in general. ”
On the one hand, ICE Insurance CEO Robert Lewis said: “The safety of our clients and the risk management relationships that we develop and that we seek to maintain are of utmost importance. This partnership with Hollard Seguros guarantees that security. I am very excited about Hollard Seguros’ approach and know that our clients will be in very good hands.”
Mittermayer added: “Rob has created a significant business in a relatively short time and we are grateful for all his support during the negotiations. In addition to being part of the process, he was also available to support the entire operation of Hollard Seguros in the medium term and will always have a role in the relationship with clients and the international insurance market. We are also excited about the prospect of working with the pan-African team and network that has been established by ICE Seguros to support its international clients. Together with the involvement of our team, this will significantly reinforce Hollard Seguros’ objectives of growing in a relevant and sustainable manner in business involving multinational companies operating in Mozambique and leverage the important growth of the Mozambican economy.”
“We believe that this transaction represents a vote of confidence in the Mozambican insurance market and will promote growth for Hollard Seguros. However, we are conscious of not letting this transaction distract us from our clients and our insurance brokerage partners – we know they are our life-blood and deserve our attention and support at all times,” Mittermayer concluded.
About Hollard
Established in 1980, Hollard Insurance Group offers life and short-term insurance as well as investment products to a wide range of clients, including individual consumers, commercial entities and corporate clients.
Hollard is among a growing number of companies that value an inclusive growth model, focusing not only on contributing to its shareholders, but also on the social dividends it generates. Hollard Insurance Group is a company passionate about the insurance world.
In 2018, Tokio Marine Group, Japan’s largest insurance group and one of the largest in the world, acquired a 22.5% stake in Hollard South Africa and Hollard International, fulfilling Hollard’s long-term goal of partnering with a large international group.
Hollard South Africa and Hollard International operate in a number of countries, including South Africa, Botswana, Ghana, Lesotho, Mozambique, Namibia, Zambia and the Philippines.
