Hollard International strengthens its presence in East Africa

Hollard International, the international business unit of South Africa's Hollard Insurance Group, has signed an agreement on 31 October 2023 to acquire a substantial stake in Apollo Investments Limited, parent company of Kenyan insurer APA Insurance.

This strategic investment will allow Hollard to access a vast market and take advantage of its growth opportunities. Hollard will also become the Kenyan group's second international investor, after Swiss Re, which acquired a stake in APA Insurance in 2014.

The Hollard Group is present in Southern and West Africa through 6 subsidiaries based in Botswana, Ghana, Lesotho, Mozambique, Namibia and Zambia.

The transaction is still pending regulatory approval.