Hollard’s acquisition of Regent gets go-ahead, two years down the line
Hollard’s R1.8bn acquisition of Regent from Imperial has been given go-ahead by regulators and will be finalised by the end of this month, Imperial said on Wednesday. The Financial Services Board had approved the deal, in which Hollard will acquire Regent’s life and short-term insurance operations in SA and the rest of Africa, on Monday. The acquisition will cement Hollard’s position as SA’s second-largest short-term insurance company, increasing its lead on Old Mutual Insure, formerly Mutual & Federal. Santam, majority owned by Sanlam, is the country’s largest short-term insurer with a 24% share of industry premiums, according to figures from KPMG. “Acquiring Regent is an important milestone for Hollard, given our objectives of increasing our African footprint and building scale in our South African business,” said Nic Kohler, CEO of Hollard Insurance Group. “The deal expands our life distribution capability and significantly enhances our presence and capability in the commercial v...
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