Hollard Insurance Group Announces a ground-breaking partnership with Tokio Marine Group.
Recently The Hollard Insurance Group announced a ground-breaking partnership with the Tokio Marine Group, the largest insurance group in Japan, and among the largest in the world. Tokio Marine will acquire a 22.5% stake in Hollard South Africa and Hollard International for approximately R5 billion, fulfilling Hollard’s long-held goal of partnering with a major international insurance group.
The Tokio Marine Group was established in 1879 and incorporates Japan’s oldest Insurance company, Tokio Marine Insurance. The Group employs almost 39000 people in 38 countries and, reported an income of just over 5 232 billion Yen (R725 billion at today’s exchange rate).
This is a game-changer for Hollard, as not only does it represent a significant vote of confidence in Hollard, but also in South Africa and in the African continent as a whole. The transaction is aligned with President Cyril Ramaphosa’s call for $100 billion to be invested in SA over the next five years, and is an endorsement of the well-regulated South African financial services sector. The access to capital this partnership provides will help to accelerate our ambitious plans in Africa and Asia.
AWCA investment Holdings would like to congratulate Hollard this big honor.