Hollard International (HINT), Johannesburg-headquartered Hollard Group Insurance's international business, has taken a bold step forward in its Africa growth strategy with the successful completion of two major acquisitions -- one of Global Alliance Seguros in Mozambique and the other of Absa Life Botswana.
Mozambique
In Mozambique, Hollard Moçambique Seguros has acquired 100% of the shareholding in Global Alliance Seguros, marking a significant milestone in its 24-year presence in the country. 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.
Over the next 18 months, Hollard will fully integrate Global Alliance Seguros into its operations, aligning leadership, systems, and service platforms.
Botswana
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. This move aligns with Hollard’s Africa expansion strategy to build scale, strengthen partnerships, and provide greater value in markets where insurance penetration remains low, but potential is high.
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.
Hollard International CEO, Mr Pravin (PK) Kalpagé, said, “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.”
“The acquisitions form a core pillar of our long-term growth strategy and expansion plans into the continent. Central to this strategy is our commitment to understanding the distinct social dynamics of each market to deliver insurance solutions that respond to real community needs,” said Mr Kalpagé.
“Our vision is to leverage the strengths of the businesses we have acquired to unlock long-term value for customers, partners, and the communities we serve. The move supports four strategic pillars: market expansion, enhanced customer service, product innovation, and operational efficiency.
Over the past 24 months, Hollard International has expanded in other markets across the continent, having partnered with East Africa’s APA Insurance, a leading insurance company in Kenya. Hollard currently operates in eight African countries.
“These acquisitions in southern Africa and partnerships in East Africa and other parts of Africa are a deliberate and sustained strategy to build a connected pan-African insurer. We want to continue in our efforts to build a resilient, inclusive, and forward-thinking insurance ecosystem that contributes to Africa’s economic and social development,” said Mr Kalpagé.