Hollard partners with Cigna to broaden its footprint in Africa
Insurer Hollard planned "significant acquisitions" on the continent in the next few years and was partnering with global health insurer Cigna to offer health insurance to companies operating in Africa, said Brooks Mparutsa, executive director of Hollard’s international business. Hollard, which already has offices in Zambia, Namibia, Mozambique, Botswana and Ghana, hoped to finalise the acquisition of a health insurance company in Kenya by the end of 2017, Mparutsa said last week. It wanted to secure a life insurance licence in Ghana by August and conclude a transaction in Nigeria in the next 18 months. Hollard was also in discussions over a possible partnership with Resolution Insurance in East Africa and was keen to do an acquisition in West Africa, Mparutsa said. Hollard is a privately held insurance company, majority-owned by the Enthoven family, which also own Nando’s. At the end of 2015, it was SA’s second-largest short-term insurer, with an 11% share of the industry’s total pr...
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