Hollard Mozambique, an insurer operating in both general and life insurance segments, has completed the merger of Hollard Seguros, Hollard Vida and Global Alliance, consolidating into a single company operating under one brand. The transaction, whose regulatory approval process was announced recently, allows the insurer to consolidate its operations and broaden its product and service offering in the domestic market.
According to a company statement, Hollard Mozambique intends to widen access to insurance for individuals, small businesses and sectors with limited financial protection, leveraging the combined capabilities of Hollard Seguros, Hollard Vida and Global Alliance following their merger. The insurer aims to extend its market reach and develop more inclusive solutions tailored to the needs of the national market.
"The company's ambition is to consolidate its already established presence in the country and play an even greater role in extending insurance protection to more Mozambicans. We are now in a stronger position to draw on this experience and broaden our reach," said Henri Mittermayer, CEO of Hollard Mozambique.
Under a single brand, Hollard will be able to offer its clients and distribution partners the full range of non-life and life insurance products, as well as pension fund management services. Beyond conventional insurance, Hollard Mozambique will also continue to explore solutions aimed at promoting financial inclusion, including agricultural insurance, education insurance plans, hospital assistance cover, a digital motor third-party liability product (Paga Leve), and other micro-insurance products. These solutions can help facilitate access to financing for activities in traditionally underserved sectors.
"Insurance has an important role to play in supporting economic development. When farmers, entrepreneurs and businesses have access to adequate protection, they are better positioned to manage risk, access financing, invest in their operations and pursue growth opportunities," Mittermayer said.
"Our ambition is to continue growing alongside Mozambique, helping more people and businesses access insurance, supporting economic activity and contributing to a better future for the communities we serve." — Pravin Kalpagé, Executive Director, Hollard International
The company identifies opportunities to increase insurance coverage across the country and intends to develop solutions tailored to local needs. The strategy also includes strengthening the customer experience and investing in technology and digital innovation to improve efficiency, simplify client interactions and reinforce claims processes. "We see significant potential to broaden the insurance sector's participation in Mozambique. Our focus is on developing practical solutions that address local needs and help more people and businesses participate confidently in the economy," Mittermayer added.
"As part of the Hollard Group, the Mozambican operation will continue to combine local market knowledge with access to an international network of insurance and reinsurance partners, and will also benefit from the support of Japanese insurer Tokio Marine," the statement read.
Pravin Kalpagé, Executive Director of Hollard International, framed this new phase within the group's long-term commitment to Mozambique. "Our ambition is to continue growing alongside Mozambique, helping more people and businesses access insurance, supporting economic activity and contributing to a better future for the communities we serve," Kalpagé said, adding that "the strengthening of the Mozambican operation also aims to create opportunities for companies with a pan-African presence to benefit from the insurer's offering."
With a workforce of 160 employees, Hollard Mozambique plans to relocate its offices to the Baixa district of Maputo. The company links this decision to its intention to contribute to the development of the communities in which it operates. "The decision to move to Baixa reflects our commitment to shared value and the belief that businesses can contribute to the revitalisation of communities through the way they choose to establish and expand their operations," Mittermayer said.
The acquisition, integration and merger process was led by Axis Advisory, headed by Marcelo Tertuliano, in coordination with the insurers' internal teams. Mittermayer acknowledged the contribution of all those involved in the consolidation of the company and in launching this new phase of activity.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=559123
