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Hollard joins forces with ICE

In an exciting development for the Mozambican insurance market, Hollard Seguros Mozambique, a subsidiary of Hollard International, will acquire the portfolio of International Commercial and Engineering (ICE) Seguros, subject to approval by the Competition and Regulatory Authority.
Hollard joins forces with ICEIn terms of the transaction, ICE will transfer its business to Hollard Seguros Mozambique. The move is aimed at creating a primary insurer that can operate at scale and compete effectively in the fiercely competitive Mozambique insurance market.

Speaking from Maputo, CEO of Hollard Seguros, Henri Mittermayer, said, “This transaction will expand our footprint in Mozambique as well as further highlighting our commitment to the Mozambican insurance market. We’ve been a part of the Mozambican insurance market for more than twenty years and firmly believe that the move is in the best interests of Hollard’s customers, partners, and shareholders as well as the market in general.“

The CEO of ICE, Robert Lewis said, “The security of our clients and the risk management relationships we have developed and sought to maintain are of paramount importance and Hollard provides that security. I am excited by the Hollard approach to relationships in general, and I know that our customers will be in great hands.”

Said Mittermayer “Rob has created a significant business in a relatively short space of time and we are grateful for his support during the transaction. Even more encouragingly, Rob has made himself available to provide support to the larger business in the medium term and will play a role in maintaining and extending international corporate relationships.

We are also excited about the prospect of working with the pan-African team and network that has been established by ICE to support their international clients. Along with the involvement of the Hollard International team, this will significantly bolster Hollard Seguros’ goals of facilitating the relevant and sustainable growth of our corporate and multinational business in the important emerging market of Mozambique.”

“We believe that this transaction represents a vote of confidence in the Mozambican insurance market and will see Hollard Seguros going from strength to strength. However, we will never let such transactions cause us to lose touch with our policyholders and brokers – we know they are our life blood and deserve our empathy, understanding and support at all times,” concluded Mittermayer.

21 Sep 2021 12:40