Hollard Insurance acquires insurance activities of the Commonwealth Bank of Australia

The South African insurer Hollard Insurance has signed an agreement with the Commonwealth Bank of Australia (CBA) for the acquisition of its non-life activities. The transaction amounts to 468 million USD and shall be completed in 2022.

The agreement also includes a 15-year strategic partnership between both companies. This collaboration enables Hollard to take over the distribution of homeowner’s and motor products to CBA's customers in Australia.