BOTSWANA: HOLLARD INSURANCE ACQUIRES REGENT BOTSWANA GROUP
Hollard Insurance has acquired Regent Botswana Group from Imperial Holdings in a ground-breaking deal that will result in the creation of Botswana’s largest short-term insurance company
Hollard Insurance operations in Botswana include Hollard Insurance Botswana, a short-term insurance company and Hollard Life Insurance Botswana, a life assurance company.
The Regent Botswana Group comprises of Regent Life Botswana, a life assurance company, and Regent Insurance Botswana, a short-term insurance company.
Briefing the media on Tuesday Hollard regional head, Mr Frans Prinsloo said acquisition had been approved by both the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) of Botswana and the Competition Authority of Botswana and the merger was expected to be completed by July 2017.
He said both companies had built sterling reputations based on their business stability, knowledge of the Botswana market, professional business practices, strong broker relationships and innovation track records
Mr Prinsloo highlighted that together, Hollard and Regent in Botswana reported gross written insurance premiums of approximately P714 million in their most recent financial year.
She further said their brokers and customers will benefit from this partnership with even stronger service delivery and cover for both individual and commercial insurance needs